The first time since the Internet bubble burst, the number of millionaires worldwide has declined again. According to the annual wealth report by Merrill Lynch and Capgemini presented, there was last year 8.6 million people who have financial assets of at least one million dollars available. That's almost 15 percent less than in 2007. In Germany, the number of dollar millionaires somewhat less strongly by nearly three percent to 809,700 people. That is: About one hundredth millionaire is German.
One-fifth less on the high edge
Overall, the assets of millionaires 32.8 trillion dollars, reaching the level of 2005. The solid growth in the years 2006 and 2007 has been nullified, informed Merrill Lynch and Capgemini with. Especially the ultra-rich, at least 30 million U.S. dollars have suffered. Their assets shrank by almost 24 percent.
Asset managers get anger
The dwindling wealth led to a massive loss of confidence of millionaires in their banks and asset managers. More than a quarter of the wealthy took the money from the bank or moved from the asset managers. They criticized in particular the lack of availability of products, the fees and the poor communication of the asset managers.
Cash, money and gold instead of shares
In order to preserve their assets, millionaires were massively from their shares. According to the study decreased the proportion of investment assets from 33 to 25 percent. In contrast, safer forms of investment in demand: The more assets flowed into cash, investments and deposit interest securities such as bonds or money. Moreover, the rich bought preferred physical gold bars and coins. Even real estate grew in importance: 18 percent of their assets in real property without the use of self-invested.
Art as refuge in the safety
With luxury goods, the savings are not millionaires. Unchanged quarter they gave their money for cars, yachts and in private. Particularly in demand were art, jewelry and watches. The proportion of works of art increased from 20 to 25 percent. The richest people saw art in times of crisis as an additional means of escape in safety and is particularly valuable, it was said in the study. Jewelry and watches accounted for 22 percent of the luxury assets.
Most millionaires are still in the U.S.. Followed by Japan and Germany. Even in fourth place is China. The Chinese millionaires overtook the British.
Despite the financial crisis is likely worth of the dollar-millionaires long run again. The study's authors estimate that by 2013 the assets to 48.5 trillion dollars is growing. That would be an annual growth rate of around eight percent.