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  1. Wealth
November 5, 2013updated 14 Sep 2016 9:41am

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

By Zahra Al-Kateb

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.

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