How the rich are winning
You may have been hearing a lot of doom and gloom about the economy recently.
OK, so the news on jobs, real estate and retail sales has been dismal. Yes, maybe it's true the middle class is broke, in debt, under water, out of work and in despair.
But look on the bright side. One group of people is doing just fine. The rich.
. . . . .
According to consultants Cap Gemini, the wealthy saw their net worth bounce back sharply last year. And while those with $1 million or more did pretty well, the real story was the boom among the ultra rich: Those with more than $30 million to invest. "Ultra-HNWIs (High Net Worth Individuals) increased their wealth by a striking 21.5% in 2009, far more than the average in the HNWI segment as a whole," Cap Gemini reported, adding: "A disproportionate amount of wealth remained concentrated in the hands of Ultra-HNWIs."
Read the full article here. Discuss below.
Posted on July 24, 2010
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