Study: America Lost 129,000 Millionaires in 2011
Because of the sliding stock prices, the number of millionaires in US fell by l29,000, from 5, 263, 000 to only 5, 134,000.00 today. Their private wealth only stands at $38.00 trillion. The decrease stands at 0.9%. This is according to the BCG.
The rest of the world however gained l76,000 millionaires (are you one of them?) The global number of millionaires stand at 12.6 million
One of the hardest hit was Mark Zuckerberg of FB. Bloomberg estimates that of his original networh of $19.4 billion, it is now down to $l5.l billion. (only paper losses)
The stock prices continue to plummet since 2011 on concern of rising US debt and the Eurozone debt crisis. 49% of Americans watch the Eurozone events, with l6% of them very closely.
Do PHL economists watch the Eurozone crisis? How about you? Do you? How is it going to affect you?
The US stock market affects the Euro debt crisis which in turn affect brings the US stock market in a vicious cyle.
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