Millionaire numbers shrink

According to the Merrill Lynch / Capgemini World Wealth Report, the number of people with more than US$1 million (A$1.25 million) in assets, excluding the family home, dropped from 10.1 million at the end of 2007 to 8.6 million as of end 2008.

Australia’s millionaire club shrank by 39,500 to 129,200 the report said, pushing Australia out of the top 10 ranking to number 11.

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Written by Staff Reporter

Last Updated: 09 March 2022

Published: 26 June 2009