Asian Millionaires Outnumber Those in North America, Report Says

Asia-Pacific millionaires outnumbered those in North America for the first time last year as the world’s wealthy saw a decline in their fortunes, according to a report by Capgemini SA and RBC Wealth Management.

The number of individuals in Asia-Pacific with at least $1 million in investable assets jumped 1.6 percent to 3.37 million, helped by an increase in rich people in China, Japan, Thailand, Malaysia and Indonesia, according to the World Wealth Report released today. So-called high-net-worth individuals in North America dropped 1.1 percent to 3.35 million.