Asia’s Rich Top Europe for First Time, Merrill Lynch Says
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Millionaires in the Asia-Pacific region outnumbered those in Europe for the first time in 2010, according to a report by Capgemini SA and Merrill Lynch Global Wealth Management.
The wealth of 3.3 million high-net-worth individuals in the Asia-Pacific region climbed 12.1 percent last year to $10.8 trillion, exceeding the $10.2 trillion accumulated by 3.1 million people in Europe, according to the 2011 World Wealth Report released yesterday. Global wealth held by people with at least $1 million of investable assets climbed 9.7 percent to $42.7 trillion.