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Even during these tough times, there are more millionaire households in the world than at any other time, with the growth highest in China and Europe.

The total number of millionaire households in the world (ie. those with assets of $US1 million or more) now stands at 9.6 million.

This represents only 0.7% of all households, owning $US33.2 trillion. This is a staggering one third of the world’s entire wealth which just goes to show the inequality of wealth.

Here’s the Top 10 of millionaire households, and I’ve also included the countries’ ranking for households with in excess of $US100 million (with Australia added on, given our Australian roots).

No. 1: USA

Total millionaire households: 4,585,000

Total population: 301,139,947
Total $100 million+ households: 2,300 (rank: 1)

Bill & Melinda Gates, and Warren Buffet

No. 2: Japan

Total millionaire households: 830,000
Total population: 127,433,494
Total $100 million+ households: 1,300 (rank: 2)

Softbank President Masayoshi Son with Actress Ava Ueto

No. 3: Britain

Total millionaire households: 610,000
Total population: 60,776,238
Total $100 million+ households: 810 (rank: 3)

Virgin Group founder, Sir Richard Branson

No. 4: Germany

Total millionaire households: 350,000
Total population: 82,400,996
Total $100 million+ households: 620

No. 5: China

Total millionaire households: 310,000
Total population: 1,321,851,888
Total $100 million+ households: 180 (rank: 13)

No. 6: Italy

Total millionaire households: 270,000
Total population: 58,147,733
Total $100 million+ households: 530 (rank: 5)

No. 7: France

Total millionaire households: 265,000
Total population: 63,713,926
Total $100 million+ households: 260 (rank: 9)

No. 8: Taiwan

Total millionaire households: 220,000
Total population: 22,858,872
Total $100 million+ households: unknown

No. 9: Switzerland

Total millionaire households: 205,000
Total population: 7,554,661
Total $100 million+ households: 300 (rank:8)

No. 10: Brazil

Total millionaire households: 190,000
Total population: 190,010,647
Total $100 million+ households: 210 (rank: 10)

No. 13: Australia

Total millionaire households: 135,000
Total population: 20,434,176
Total $100 million+ households: 150 (rank: 14)

PBL Chairman, James Packer

Simon Turner

FYI: Read related articles on The World’s Most Expensive…; Luxury Homes; and Warren Buffet

More information: Figures taken from a study by Boston Consulting Group

This is a question on many people’s lips and our colleague in San Fransisco, Jim Walberg, has some great points worthy of noting.

THE key to our economic recovery is real estate values and consumer confidence. Real estate is the oil that fuels our economic engine. Generally, real estate is having a similar feel that we are seeing in the stock market today. Volatility!

  • New home building starts are down to a trickle
  • Interest rates are GREAT and will get even better in the coming weeks.
  • Rentals are now commanding premium prices.

At some point, consumers will be the driving force that stabilises the real estate market, which will in turn send the message to the markets that the bottom of the market has been found.

In fact, Warren Buffet made a comment recently that when people bail out of the markets because of FEAR, he gets greedy. There are companies valued at 50% of their true value today. Warren Buffet is buying up these values with BILLIONS of dollars today.

Again, we will know the roller coaster ride of the markets is over when real estate hits the bottom and starts to the bounce back up. Pay attention to that event and you may well have timed the market perfectly to participate in some of the best values we will see for years to come.” Wise words indeed. Simon Turner

FYI: Read more articles on Real Estate, Stock Markets, Warren Buffet, and Luxury Homes

The world is changing fast. The credit crunch has hit, stocks have plummeted and wealth has been redistributed to where? India!  It’s a global competition and Australians have every opportunity to punch with the very best of them. Out of the 5 wealthiest people in the world, 2 are from India. It is a changing of the guard and it is very rapid to the point where we have to reassess the world order.

Out of the top five 1 is Mexican, 2 are Americans and 2 are Indians. We are concerned that Australia has cut grants to entrepreneurs in the latest Government “brainstorm” and support for business has been held back. James Packer seems to have lost his way and Australia’s richest man Andrew Forrest ($AUS 8 Billion) is likely to suffer from the world downturn in commodity prices.

Where does this leave us as Australians wanting to move the world? MTLH are wondering the same thing and are more than just dipping our feet in unchartered territory to find out. We’re here in the United States amongst some of the most successful real estate professionals ever and absorbing as much information as possible.

So how can you be successful in an increasingly toughening market? Well I guess you need to brace yourself for the fact that long-lived success never comes easy regardless of the timing, come up with something original, back yourself, recognize a trend, recognize that you’re living in a global market, and face your fear! It’s no longer acceptable to just think yourself lucky that you are Australian – you need to prove it! For inspiration, look to the world’s top 5 richest people right now:

1. Warren Edward Buffett – US – $62 Billion

2. Carlos Slim Helú & Family – Mexico – $60 Billion

3. Bill Gates – USA – $58 Billion

4. Lakshmi Mittal – India – $45 Billion

5. Mukesh Ambani – India – $43 Billion

Michael Marquette

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