June 1, 2011 at 8:09 AM ET
While many of us were still pinching our pennies as a result of the recent recession, some lucky folks were becoming newly minted millionaires.
A new report from The Boston Consulting Group finds that the number of millionaire households worldwide increased by 12.2 percent in 2010, to 12.5 million.
Although those millionaires represent just 0.9 percent of all households, they control about 39 percent of all global wealth, according to the report. That’s up from 37 percent in 2009.
The general rise in global wealth can largely be attributed to last year’s strong rebound in the financial markets
The United States has the most millionaires of any country, with an estimated 5.2 million households holding assets into the seven figures. But your chances of being a millionaire are better in Singapore, where the report says 15.5 percent of all households have at least $1 million.
The Boston Consulting Group defines millionaires as having $1 million in cash and investments, excluding things like houses, cars and investments in a business.
Tip of hat to The Wall Street Journal, which first reported the story.
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