Tuesday, June 20, 2006

More Millionaires Now than Ever

According to this article, there are now close to 9 million millionaires in the world. More interesting (but not surprising if you know about millionaires) is that they are investing aggressively in emerging markets around the world.

The ultra-rich (more than $30 million net worth) topped 85,700 around the world and grew at a faster pace than the overall number. The article points out that the fastest growing area is the Middle East and the leader is Dubai. Why? Low barriers to entry, no unions, cheap startup costs and no taxes.

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