The number of millionaires in the world increased by 8.3 percent in 2006, with about 9.5 million individuals now estimated to have more than a million dollars in financial assets, a report said Wednesday. The survey by financial services group Capgemini and US investment bank Merrill Lynch said strong global economic growth and gains on the stock market explained the expansion of the exclusive club of ‘High Net Worth Individuals’ (HNWIs). The financial assets owned by the group totalled 37.2 trillion dollars (27.7 trillion euros), an increase of 11.4 percent from 2005, with Singapore, India, Indonesia and Russia producing the greatest number of new millionaires. ‘Real GDP and market capitalisation growth rates, two primary drivers of wealth generation, accelerated throughout 2006, which helped to increase the total number of HNWIs around the world as well as the amount of wealth they control,’ the report said. The number of Ultra-HNWIs — individuals with financial assets exceeding 30 million dollars — increased by 11.3 percent in 2006, with the global population of this extremely affluent group now estimated at 94,970 people. The financial assets of Ultra-HNWIs increased by 16.8 percent compared with 2005, illustrating a trend whereby […]