By: Robert Frank
CNBC Reporter &
Editor
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The population of U.S. millionaire
households (households with investible assets of $1 million or more) fell to
5,134,000 from 5,263,000 in 2011, according to The Boston Consulting
Group’s Global Wealth study.
Total private wealth in North
America fell by 0.9 percent, to $38 trillion.
The ultra-rich were the largest
losers in dollar terms. Households in North America with investible assets of
more than $100 million saw their wealth decline 2.4 percent. Their population
declined slightly to 2,928 from 2,989.
The main reason for all this
wealth loss? Stocks.
With the wealthy today
increasingly dependent on stocks for wealth, last year’s stalled stock market
shrunk the population of millionaires and nicked the fortunes of existing
millionaires. According to BCG, the amount of wealth held in equities declined
3.6 percent last year.
Globally, the picture looked a
little brighter. Virtually all of the growth in global millionaires came from
emerging markets last year. While the United States lost nearly 130,000
millionaires, the rest of the world added 175,000 millionaires. There are now
12.6 million millionaire households globally, according to BCG.
The country with the highest
“millionaire density” – proportion of population who are millionaires – was
Singapore. More than 17 percent of Singapore’s households are millionaires.
While 2011 saw declines in U.S.
millionaires, the future looks brighter, BCG said. They expect wealth held by
millionaires globally to grow at around six percent a year in Asia-Pacific. “We
are in a two-speed world,” said the report. “All of the growth is being driven
by developing markets.”
-By CNBC's Robert Frank