Friday, June 1, 2012

America Lost 129,000 Millionaires in 2011

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Published: Thursday, 31 May 2012 | 11:59 AM ET 
By: Robert Frank
CNBC Reporter & Editor
 America’s millionaire population declined last year for the first time since the financial crisis, according to a new report.

The population of U.S. millionaire households (households with investible assets of $1 million or more) fell to 5,134,000 from 5,263,000 in 2011, according to The Boston Consulting Group’s Global Wealth study. 

Total private wealth in North America fell by 0.9 percent, to $38 trillion.
The ultra-rich were the largest losers in dollar terms. Households in North America with investible assets of more than $100 million saw their wealth decline 2.4 percent. Their population declined slightly to 2,928 from 2,989. 

The main reason for all this wealth loss? Stocks.  READ MORE

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