Friday, Jul 14, 2006

The Number of Millionaires

Daily Mail: 100 new millionaires created a day

A hundred new millionaires a day are being created thanks to the astonishing rise in wealth in Britain, according to new figures. A combination of the power of the City, the remorseless growth of the property market and the rise of globalisation mean there are more rich people in the country than ever before, an analysis found.

By 2011 there will be 760,000 millionaires as house prices continue to go up, it predicted. The current number of millionaires, including all assets, is just under 600,000.

Posted by jason @ 07:52 AM (615 views)
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1. sebastian said...

Haha, I often joke about one day we will all be millionaires!!

Friday, July 14, 2006 08:29AM Report Comment

2. inbreda said...

This article reminds me of why I don't read the daily mail. It's complete nonsense. It might as well say "Int high house prices brilliant!" and end there. The suggestion that trickle down works is bull***t, and the fact that so many people are becoming millionaires because of 'ever rising house prices' is not in fact an example of trickledown. It is merely a transfer of wealth from young to old and not a social improvement. The fact that Labour have accepted the Thatcherite Tory concept of trickle down is spot on, and nothing to be proud of.


Friday, July 14, 2006 09:12AM Report Comment

3. Blindleadtheblind said...

as house prices rise...genius of new...trickle down economics...ooohh purleeze pass me the bucket.

Friday, July 14, 2006 09:17AM Report Comment

4. uncle tom said...

And how many would still be millionaires if you factored out the value of their home?

It's a great ambition to set your sights on, but a huge anticlimax when you get there..

- trust me!

Friday, July 14, 2006 09:44AM Report Comment

5. Sloth said...

just shows the rise of M4 and thus inflation.

Friday, July 14, 2006 10:23AM Report Comment

6. Powerswitch_gd said...

Yay, soon we'll all have a swimming pool each, private jet planes...

Friday, July 14, 2006 10:40AM Report Comment

7. Retiredbanker said...

Just over 40 years ago when I got married, being a millionaire really meant something. Since then there has been
at least 20 fold inflation ( ignore the official statistics, the study of inflation has always been rather a hobby of mine ),
remember that the top prize on Ernie used to be 50k and it is now 1m.
The Edwardian terraced house that my wife and I bought in 1965 for just under 4k is now apparently worth(?) in excess of 325k, and in that same year we bought a new Triumph Spitfire sports-car for 665.

We car since moved upwards on the property ladder, and taking all our other assets into account are now millionaires,
although we are certainly not wealthy.

Inflation makes a nonsense of stupid newspaper articles like this one. If you look in estate-agents windows in areas
such as Barnes, Hampstead, Highgate, Islington etc., there hardly seems to be any properties on offer for much
less than 1m.

Millionaires ain't what they used to be!

Friday, July 14, 2006 11:30AM Report Comment

8. Sighmoon said...

Hyperinflation comes to the UK.

Friday, July 14, 2006 11:44AM Report Comment

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