Richest countries in the world: Canada ranks 7th for millionaires as number of rich soars

The number of millionaires in Canada leapt 7.7 per cent in 2012, according to researchers who also found the group controls more than a quarter of Canada’s wealth.

According to consultancy firm WealthInsight, the number of high net worth individuals (with assets of $1 million U.S. or more) in Canada grew to 422,000 in 2012, accounting for about 1.2 per cent of the population.

The millionaires control about $1.53 trillion in assets, or about 26 per cent of the privately held wealth in Canada, WealthInsight found.