NEW YORK -(Dow Jones)- The world's millionaires continued to recover in 2010 from the recent financial meltdown, with their population and assets climbing back past the 2007 pre-crisis peak.
In 2010 the number of high-net-worth individuals in the world -- those with at least $1 million in investable assets excluding primary residences -- grew 8.3% to 10.9 million, and their wealth rose 9.7% to $42.7 trillion, according to the 15th annual World Wealth Report, compiled by Bank of America Corp.'s (BAC) Merrill Lynch Global Wealth Management and Capgemini Financial Services.
At the end of 2007, the high-net-worth population was at 10.1 million people with $40.7 trillion assets. But then 2008 wiped out two years of growth, shrinking the high-net-worth population by 14.9% and their total wealth by 19% to levels below that of 2005.
In 2010 the population of ultra-high-net worth individuals -- those with investable assets of at least $30 million -- rose 10.2% to 103,000, as their wealth rose 11.5%. A disproportionate amount of wealth remains in the hands of the ultra-high-net-worth: at the end of 2010 the group represented only 0.9% of the global high-net-worth population, but held 36.1% of its wealth, a slight increase from 2009.
Wealth is still concentrated in the U.S., Japan and Germany, which accounted for 53% of the world's high-net-worth population, although their share is down from 54.7% in 2006. The U.S. is still the country with largest high-net-worth segment, with 3.1 million individuals.
Wow. Based on the above data, 100,000 people (.9% of the ultra wealthy) own approximately $15 trillion (36% of the 42 trillion) in wealth. So these special 100,000 people own on average $150 million worth of assets. Incredible.