Ranks of Wealthy Rebound
July 1, 2010
Though world gross domestic product shrank in 2009, high-net-worth individuals managed to almost make up for 2008 losses, according to the Merrill Lynch Global Wealth Management and Capgemini 14th annual "World Wealth Report."
The number of high-net-worth individuals around the world returned to the 10 million mark in 2009 and their wealth soared 18.9%, to $39 trillion.
Emerging markets drove the gains. "The rebound has been, and will continue to be, driven by emerging markets," said Bertrand Lavayssiere, managing director of global financial services at Capgemini.
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