Number of Global Millionaires Grows to 8.7 Million

...More Than New York City's Population

[walkman]

[biz.yahoo.com...]
"North America held a slight edge over Europe in the population of millionaires, with 2.9 million to Europe's 2.8 million. Asia counted 2.4 million, Latin America 300,000 and Africa 100,000.

The world's millionaires are increasingly branching out from their home countries, with 65 percent paying attention to foreign markets and 30 percent buying homes overseas, the study found."

[BillyS]

I don't think being a millionaire is carries much weight anymore. Even being a multi-millionaire doesn't impress much.

To be "rich" you've got to be worth $10 million or more.

[turtlehurricane]

id put rich at 3 million

[walkman]

>> id put rich at 3 million

I would settle for $5 Million.

[digitalghost]

Rich? Wrong word. It's wealthy. ; ) Haven't heard a single person yet, #*$! about 7 figures.

[zCat]

If there are any new millionaires out there who have discovered a million dollars is no longer what it once was and are no longer enamoured with their status, please feel free to send me a sticky mail ;-).

Seriously, I just worked out that if three generations of my family pooled their resources (sell our respective properties, pool various savings etc.) we could easily raise a million US$. Mainly due to house price inflation though.

[vincevincevince]

I wonder what the count is of real millionaires, the sterling type?

[LifeinAsia]

If there are any new millionaires out there who have discovered a million dollars is no longer what it once was and are no longer enamoured with their status, please feel free to send me a sticky mail ;-).

Tell you what- give me a million dollars and I'll do the research for you. Of course, I'll need another million in a few years so I can do the comparison. :)

[walkman]

a million in cash, and a job will be enough for most of us IMO. You don't touch that money for a while and you will be in much better shape 5-6 years later, assuming a 12-15% a year. The peace of mind alone, that comes with having some cash aside, makes you feel like a million bucks IMO :).

All that said, one could spend $100 million in days if they wanted to.

[gamiziuk]

I'm still working on my "first" million...
:-P

[buckworks]

I decided to jump straight to the second million.

[Crush]

I was working out last night with the wife what we need to never work again. You would be shocked.

3000 euro a month to live ( min), 36,000 a year. hopefully live another 50 years so that is 1.8 million euro if I wanted to retire today.

[ken_b]

Number of Global Millionaires Grows to 8.7 Million

How many of them post here?

Does WW have it's fair share, or more?

[LifeinAsia]

hopefully live another 50 years so that is 1.8 million euro if I wanted to retire today.

Did you factor in inflation, interest (on the money sitting there), and taxes on the interest?

[gopi]

As someone said million is not what it used to be, 10 million is the new million...

[Draconian]

I think the whole concept of money has been exhausted. Nobody cares because there's always somebody richer out there.

Ex. "So what if you have 53 million dollars, Oprah has 53 billion".

It's worthless stuff, it's all about possessions now. You can be up the wazoo in bankruptcy and people will still think you're loaded as you "bomb" down the street in your black escalade rolling on 30 inch dubs... We've made it easier to get the things we want without money being an issue.

CREDIT IS EVIL! Don't sell your soul for a dope ride kids...

[gamiziuk]

I think the whole concept of money has been exhausted. Nobody cares because there's always somebody richer out there.
Ex. "So what if you have 53 million dollars, Oprah has 53 billion".

What are you, one of the Illuminati?

I am not looking to "compete" with Oprah or anyone else - I want to collect enough money so I can give up my "day job" and become my own boss. And perhaps take a vacation holiday to the Virgin Islands or some other nice place periodically...

[Draconian]

That's not what I was getting at. It's the fact that people aren't sursprised when they hear so and so has X amount of cash/possesions.

As for the comment about being an Iluminati. I could tell you, but then you'd have to Derive Infinite Equations... :)

[vincevincevince]

It's the fact that people aren't sursprised when they hear so and so has X amount of cash/possesions.

And I don't think they ever were. Social mobility required some alternative label for status and hence millionaire was coined to describe the mose base measure of new social worth.

In the same way you would not be surprised to know that the well-spoken lady you met this morning is Lord Barrowswiggle's daughter, it is not surprising when you learn that the net worth of codswallop retailer Slapfish makes its founders worth $1.1 million.

If you met a rude, poorly spoken and short-sighted lady it would be a surprise to know she was Lord Barrowswiggle's daughter, likewise if a hotdog seller or street cleaner was revealed to be a millionaire, that too would surprise.

I do not feel anyone has been surprised by the application of a label to someone who typifies the class of members.

[Essex_boy]

Reminds me of a true story.

Kerry Packer (Ozzie billionaire) walks in to a casino and sees that a man at the craps table is getting a lot of attention.

He walks over during a break and asks him how come.

The guy replys well thats becuase im an oil Millionaire from Texas, Im worth $100 million dollars.

Kerry Rubs his chins, and says $100 million eh? Ill toss you for it.

Moral of that story there is always someone richer than you around.