Rich Getting Richer

Even as the world went through the worst recession since the 1930s the rich still managed to grow richer last year. Remarkable! A furious stock market rebound helped the world's list of millionaires climb 17 percent to 10 million, while their total wealth rose 19 percent to $39 trillion. Stock values rose by half and hedge funds recouped most of their losses from 2008. Bank of America wealth management chief Sallie Krawcheck said, "We are already seeing distinct sings of recovery and, in some areas, a complete return to 2007 levels of wealth and growth." The fastest growth in wealth took place in India, China and Brazil. Asia's millionaires rose to 3 million, matching Europe for the first time. Asian millionaire's wealth surged 31 percent to $9.7 trillion, surpassing Europe's $9.5 trillion. In North America, the number of millionaires rose 17 percent and their wealth grew 18 percent to $10.7 trillion. The United States was home to the most millionaires in 2009 with 2.87 million.