Another lot of millionaires doing quite well

From YNet, word that Israel is no exception to the rule that in today’s so-called recovering, it’s only the rich who are recovering.

The number of millionaires in Israel increased last year by 42.7%, from 5,900 in 2008 to 8,419 in 2009, according to the 14th Merrill Lynch Capgemini World Wealth Report. . .

According to the report, the number of millionaires in the world rose in 2009 by 17.1%, to some 10 million, despite the economic downturn. Israel takes third place in the increase of millionaires after Hong Kong and India, where the number of millionaires grew by 104% and 50.9% respectively.

The report defines a millionaire as anyone with at least $1 million in liquid funds, not including invested capital, and after all debts are deducted. In 2009, the world’s millionaires held a total of $39 trillion – an increase of 18.9% compared to the previous year. [Emphasis added — esnl.]

The number of multimillionaires (who have at least $30 million) grew by 15.4%, to some 90,000. The total wealth held by these multimillionaires grew last year by 21.5%.


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