The US has 9 million millionaires!

Last Updated: Saturday, March 16, 2013 - 20:13

New York: A study has found that almost 9 million households in the United States are members of the millionaires club of the country, which has grown since 2008 following the recession.

According to a report from a Chicago-based research firm Spectrem Group, 8.99 million US households boasted of a net worth of at least one million dollars by the end of 2012, the New York Daily News reports.

However, the study stated that the current number is less than the pre-recession high of 9.2 million in 2007.

Spectrem Group president George H Walper Jr. said that the rebound in equities after the recession is responsible for the spurt in wealth in many affluent households, in a similar way as the stock market crash triggered a steep drop in the net worth of wealthy investors.


First Published: Saturday, March 16, 2013 - 20:13

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