The number of U.S. households with a net worth of $1 million or more, not including primary residence, jumped 16% to 7.8 million in 2009 from 6.7 million the year before, according to a report released today by Spectrem Group.
The millionaires are back.
The number of U.S. households with a net worth of $1 million or more, not including primary residence, jumped 16% to 7.8 million in 2009 from 6.7 million the year before, according to a report released today by Spectrem Group.
That follows the 27% decline in the millionaire population in 2008.
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The number of Ultra High Net Worth households, or those with a net worth of $5 million or more (not including primary home), rose 17% to 980,000 in 2009.
The millionaire population is still far short of the 9.2 million counted by the Chicago wealth-research firm at the peak in 2007. But the trend shows that the recovery is well underway–at least for the wealthy.
“The nation’s millionaires–together with its Ultra High Net Worth households–are bouncing back from the recession,” said George H. Walper Jr., president of Spectrem Group.
To read the full story, visit wsj.com
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