wealth

Millionaires hurting (a bit), but billionaires sitting pretty

Sep. 17, 2012 at 11:08 AM ET

Would you believe that despite everything that's happened in the economy, there are more billionaires this year than last? 2,160 of them, to be exact. That's a 9.4 percent increase, according to a report by research company Wealth-X. Billionaires even made more billions, increasing their total wealth 14 percent to $6.2 trillion.

However, not everyone in the “ultra high net worth individual” category, those making $30 million plus, went unscathed by the global economic turmoil. Folks in the $200 million to $249 million bracket saw their fortunes tumble by 12 percent, and their ranks thin by 8.1 percent, said the report, which used data through July 31.

Even when both groups can afford to have fresh caviar helicoptered in daily, guess the richer still get richer and the not-nearly-as-rich can’t take as many expensive vacations.

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