FINANCE STRENGHT
A millionaire is either an individual or any person who resides in a household whose net worth or wealth exceeds one million units of any currency. A female millionaire is called a millionairess. A multimillionaire has a net worth of more than two million units of currency and a hectomillionaire has a net worth of more than 100 million units of currency, but the technically incorrect centimillionaire is more often used to mean the same thing. While statistics regarding financial assets and net worth are presented by household, the term is also often used to describe only the individual who has amassed the assets as millionaire. Thus the term statistically refers only to households, while in common language use it may only refer to an individual. A certain level of prestige is associated with being a millionaire, which makes that amount of wealth a goal for many. However, due to inflation, the status of millionaire is no longer as exclusive as it once was. The increasing number of millionaires is partially due to inflation: a million dollars, for example, provides far less purchasing power today than it did in the 19th century. However it still ensures a comfortable lifestyle for those becoming millionaires. Recently there has been some controversy over how to correctly determine a person's status as a millionaire. One of the two most commonly used measurements is net worth, which counts the total value of all property owned by a household minus the household's debts. According to this definition a household owning an $800k home, $50k furnishing, two cars worth $60k, a $60k IRA, $45k in mutual funds and a $325k vacation home with a $250k mortgage, $40k in car loans and $25k in credit card debt, would be worth $1,025,000 and every individual in this household would thus be a millionaire. However, according to the financial assets measurement, equity in one's principal residence is excluded. So are all other fixed assets such as the car and furniture. While millionaires constitute only a small percentage of the population, they hold vast control over economic resources with the most powerful and prominent individuals usually ranking among them. Forbes and Fortune magazines maintain lists of people based on their net worth and are generally considered authorities on the subject. According to Forbes' 19th annual list of the richest people published in 2006 there are 793 US-dollar billionaires in the world. The number of millionaires is much higher.
Multimillionaire, Another commonly used term is multimillionaire. As the term implies, multimillionaire applies to those individuals residing in households with a net worth or wealth of two million or more. Only a small minority of millionaire households are indeed multimillionaire households, yet many of the stereotypical millionaires shown in televisions programs such as "The OC" are actually multimillionaires. The term also has a more prestigious connotation than millionaire. Roughly 0.9% of high net worth individuals (HNWIs) can also correctly be identified as ultra-high-net-worth individuals (ultra-HNWIs), those who reside in households with a net worth or wealth of 30 million or more. There are approximately 70,000 ultra-HNWIs in the world with 54,000 or 77% residing in the United States and Europe
Multimillionaire, Another commonly used term is multimillionaire. As the term implies, multimillionaire applies to those individuals residing in households with a net worth or wealth of two million or more. Only a small minority of millionaire households are indeed multimillionaire households, yet many of the stereotypical millionaires shown in televisions programs such as "The OC" are actually multimillionaires. The term also has a more prestigious connotation than millionaire. Roughly 0.9% of high net worth individuals (HNWIs) can also correctly be identified as ultra-high-net-worth individuals (ultra-HNWIs), those who reside in households with a net worth or wealth of 30 million or more. There are approximately 70,000 ultra-HNWIs in the world with 54,000 or 77% residing in the United States and Europe
NUMBER OF MILLIONAIRES IN THE WORLDThe "World Wealth Report" is a report on individuals with a net worth of at least $1 million in all assets except their "primary residence". The report is compiled annually by Merrill Lynch and Capgemini. The 2006 report for the year 2005 tells that "8.7 million people globally each hold more than US$1 million in financial-asset wealth, an increase of 6.5% over 2004." The number of millionaires grew faster than the number of people in the world in 2005 (1.2%) Some growth in international wealth and the number of high net worth individuals can be attributed to the weakness of the US dollar, as stated in the report.
FINANCE MILLIONAIRE,HNWIs (more than $1 million, in 2005)
Global: 8.7 million
Europe: 2.8
North America: 2.9
Asia-Pacific: 2.4
Latin America: 0.3
Middle East: 0.3
Africa: 0.1
FINANCE MILLIONAIRE, Ultra-HNWIs (Ultra-HNWIs Account for 0.9% of All HNWIs) (more than $30 million, in 2003) :-
Global: 70,000
North America: 29,000
Europe: 25,000
Asia-Pacific: 12,000
Latin America: 2,000
Middle East: 1,000
Africa: 1,000
South East Asia Rich List,Forbes magazine annually lists the world's wealthiest individuals - The World's Richest People. What follows is the list of billionaires (in US dollars) in South East Asia, for 2005 Rank Name Age Country Worth ($mil):-
Robert Kuok 81 Malaysia, 4.1 billion
Ananda Krishnan 66 Malaysia, 3.5 billion
Kwek Leng Beng 63 Singapore, 2.8 billion
Rachman Halim 57 Indonesia, 2.3 billion
Ng Teng Fong 76 Singapore, 2.3 billion
Quek Leng Chan 63 Malaysia, 2.3 billion
Wee Cho Yaw 75 Singapore, 2.3 billion
R. Budi Hartono -- Indonesia, 2.2 billion
Lee Seng Wee 79 Singapore, 1.9 billion
Lim Goh Tong 86 Malaysia, 1.9 billion
Teh Hong Piow 74 Malaysia, 1.8 billion
Lucio Tan 70 Philippines, 1.6 billion
Chaleo Yoovidhya -- Thailand, 1.6 billion
Henry Sy 79 Philippines, 1.4 billion
Dhanin Chearavanont 65 Thailand, 1.3 billion
Thaksin Shinawatra 55 Thailand, 1.2 billion
Putera Sampoerna 56 Indonesia, 1.0 billion
Tiong Hiew King 68 Malaysia, 1.0 billion
Francis Yeoh 50 Malaysia, 0.87 billion
Jaime Zobel de Ayala 70 Philippines, 0.80 billion
BUSINESS, The number of American millionaires rose to a record level last year, and they're disproportionately located in four counties in California, according to an analysis released Tuesday. Other states with counties that boast the highest number of millionaires across the country are Illinois, Arizona, Texas, New York, Florida and Massachusetts. Nationwide, households with a net worth of at least $1 million excluding primary residences rose 8 percent to a record high 8.9 million, according to an annual report by TNS Financial Services, a market research and polling firm. The firm's survey found that the millionaire households had an average net worth, excluding principal residence, of nearly $2.2 million, of which more than $1.4 million was in liquid, or investable, assets. Their overall debt levels, meanwhile, fell by 8 percent, from $179,000 to $165,000. Who's heading these households? TNS found the median age of the head of millionaire households is 58, and 45 percent are retired. Roughly 19 percent own in whole or part a professional practice or privately held business. Over 50 percent of the millionaires surveyed said they had become more conservative in their investment approach over the past year. Their wealth is the result of long-term wealth accumulation. Although real estate is not their sole source of wealth, it remains a staple for many. Forty-six percent of those surveyed own investment real estate like a second home or rental properties.
Seventy percent of the households, meanwhile, owned stocks and bonds, and 68 percent owned mutual funds.
FINANCE MILLIONAIRE,HNWIs (more than $1 million, in 2005)
Global: 8.7 million
Europe: 2.8
North America: 2.9
Asia-Pacific: 2.4
Latin America: 0.3
Middle East: 0.3
Africa: 0.1
FINANCE MILLIONAIRE, Ultra-HNWIs (Ultra-HNWIs Account for 0.9% of All HNWIs) (more than $30 million, in 2003) :-
Global: 70,000
North America: 29,000
Europe: 25,000
Asia-Pacific: 12,000
Latin America: 2,000
Middle East: 1,000
Africa: 1,000
South East Asia Rich List,Forbes magazine annually lists the world's wealthiest individuals - The World's Richest People. What follows is the list of billionaires (in US dollars) in South East Asia, for 2005 Rank Name Age Country Worth ($mil):-
Robert Kuok 81 Malaysia, 4.1 billion
Ananda Krishnan 66 Malaysia, 3.5 billion
Kwek Leng Beng 63 Singapore, 2.8 billion
Rachman Halim 57 Indonesia, 2.3 billion
Ng Teng Fong 76 Singapore, 2.3 billion
Quek Leng Chan 63 Malaysia, 2.3 billion
Wee Cho Yaw 75 Singapore, 2.3 billion
R. Budi Hartono -- Indonesia, 2.2 billion
Lee Seng Wee 79 Singapore, 1.9 billion
Lim Goh Tong 86 Malaysia, 1.9 billion
Teh Hong Piow 74 Malaysia, 1.8 billion
Lucio Tan 70 Philippines, 1.6 billion
Chaleo Yoovidhya -- Thailand, 1.6 billion
Henry Sy 79 Philippines, 1.4 billion
Dhanin Chearavanont 65 Thailand, 1.3 billion
Thaksin Shinawatra 55 Thailand, 1.2 billion
Putera Sampoerna 56 Indonesia, 1.0 billion
Tiong Hiew King 68 Malaysia, 1.0 billion
Francis Yeoh 50 Malaysia, 0.87 billion
Jaime Zobel de Ayala 70 Philippines, 0.80 billion
BUSINESS, The number of American millionaires rose to a record level last year, and they're disproportionately located in four counties in California, according to an analysis released Tuesday. Other states with counties that boast the highest number of millionaires across the country are Illinois, Arizona, Texas, New York, Florida and Massachusetts. Nationwide, households with a net worth of at least $1 million excluding primary residences rose 8 percent to a record high 8.9 million, according to an annual report by TNS Financial Services, a market research and polling firm. The firm's survey found that the millionaire households had an average net worth, excluding principal residence, of nearly $2.2 million, of which more than $1.4 million was in liquid, or investable, assets. Their overall debt levels, meanwhile, fell by 8 percent, from $179,000 to $165,000. Who's heading these households? TNS found the median age of the head of millionaire households is 58, and 45 percent are retired. Roughly 19 percent own in whole or part a professional practice or privately held business. Over 50 percent of the millionaires surveyed said they had become more conservative in their investment approach over the past year. Their wealth is the result of long-term wealth accumulation. Although real estate is not their sole source of wealth, it remains a staple for many. Forty-six percent of those surveyed own investment real estate like a second home or rental properties.
Seventy percent of the households, meanwhile, owned stocks and bonds, and 68 percent owned mutual funds.
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