Disposable income - about $52 billion
Surge in number of Israeli millionaires
Number of Israelis with with $1 million or more in financial assets reaches 10,153 in 2010, according to 15th annual World Wealth Report – up 20.6% compared to 2009
The number of millionaires living in Israel
grew by 20.6% in 2010, compared to a global increase of 8.3%, according to the 15th annual World Wealth Report, released Wednesday by Merrill Lynch Global Wealth Management and Capgemini.
The number of millionaires in Israel in 2010 totaled 10,153 compared to 8,419 last year. Their disposable income is about $52 billion, compared to financial wealth of some $43 billion the previous year (a 20.9% increase).
Millionaires, according to the report, are those with $1 million or more in financial assets, not including capital invested in assets and deducting any debts.
New Record
Yaniv Halily and AP
Six of Israel's wealthiest people named among world's billionaires this year for first time – or after long absence. World's richest man is Carlos Slim of Mexico
Israel had 99 multimillionaires in 2010 compared to 83 the previous year – a 19% rise. Multimillionaires are those whose wealth exceeds $30 million, not including capital invested in assets and deducing any debts.
The impressive growth in the number of millionaires in Israel is the result of a 20.6% increase in financial holdings in the capital market and a 16% rise in prices for non-financial assets (such as real estate).
Addressing global figures, the number of millionaires worldwide and their capital set a new record in 2010, exceeding their number in 2007 – the last year to record a growth before the global financial crisis broke out.
The number of millionaires worldwide in 2010 was 10.9 million, an 8.3% rise. Their financial wealth grew 9.7% to reach $42.7 trillion.
The number of multimillionaires worldwide grew by 10.2% in 2010 to 103,000. Their financial wealth went up by 11.5%, totaling $16 trillion.
These figures on the wealth of the world's millionaires and multimillionaires point to a continued recovery in the world's financial market, which has completely erased the losses of 2008.
Erez Romas contributed to this report
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