It’s a bit rich

THERE ARE 650 people to every wealthy person in the world, according to the World Wealth Report just released by investment bank, Merrill Lynch and business consultancy, Capgemini.

If “wealthy” is defined as someone with after-tax assets of at least $US1 million (excluding the value of their home and items such as cars), then there are 10.1 million wealthy people in the world, an increase of 9.4 per cent in 2007.

The report found that the number of wealthy people in India increased by 22.7 per cent to 123,000 (about one for every 9,186 people) and by 20.3 per cent in China (to 415,000 or one for every 3,185 people). In Australia, according to the report, you’ll find one wealthy person for every 119 people.


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