At the end of 2003, there were about 7,7 Million individuals roaming this planet with one common denominator: each of them was worth 1 Million Dollars in financial assets (not counting their immobilized assets such as houses...): their total worth increased by 7,7% compared to 2002 and together they weighed 28,8 TRILLION dollars. At this rate, their total worth will reach 40 Trillion dollars by the year 2008.
These guys only carry 10% cash, the rest is being invested in all sorts of financial instruments ... and that paid off well, from the first time since the dot-com-crash.
Most of these millionaires live in Europe and the USA.
More surpisingly: there are about 70.000 individuals with assets estimated at (at least) over 30 million dollar each.
It makes me think about an old friend who, staring from his hot tub at the sunset over a splendid Northern Lake, whispered the following words:
"Another shitty day in Paradise...."
Then he sipped his Rum 'n' Tim's and firmly declared
"I really wonder what the poor people are doing"
