What Recession? – World’s Wealthiest Individuals increase their Wealth


The “World Wealth Report 2011”, published by finance conglomerates Merrill Lynch and Capgemini, has shown that the amount of wealth held by the world’s wealthiest elite increased by almost 10% in 2010.  The number of ‘High Net Worth Individuals’ (i.e. those with investable assets of over $1million) also rose last year – to 10.9 million.

The wealth of these individuals has risen to $42.7trillion, or an average of almost $4.3million each.

The report also reveals that the number of Ultra High Net Worth Individuals – those with over $30million to invest – increased by 10% to 103,000.

The report fails to point out that there are currently 925 million people in the world who cannot afford enough to eat.

WORDS: Gregor Kerr