Asian Millionaires Now Surpass North American Millionaires
The United States has always been the best country for entrepreneurs to succeed in and generate wealth, right? Perhaps those that hold this view dearly should think again and take a look at the facts that may suggest otherwise.
According to a report by CNN Money, millionaires in Asia now control more assets than those in North America, Europe and other regions.
The publication cited data from the World Wealth Report from Capgemini, a consulting group that found Asian millionaires improved their wealth by 9.9 percent in 2015 compared to North American millionaires who only became 2.3 percent richer last year.
The total wealth of Asia's richest and elites totaled $17.4 trillion in 2015, nearly double from 2006's $8.4 trillion level. On the other hand, North America's wealthiest individuals were valued at $16.6 trillion last year and $11.2 trillion in 2006.
Roughly 5.1 million individuals in Asia can claim to be a millionaire, while 4.5 million Americans can make a similar claim.
The report also pointed out that the world's wealthiest individuals now hold $58.7 trillion in assets but by 2025; this figure is expected to surge past the $100 trillion mark.
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