Sunday, December 21, 2014
FAIRFIELD-SUISUN, CALIFORNIA
99 CENTS

Survey: Number of millionaires up 2M to record

By
From page B11 | June 20, 2014 |

NEW YORK — Nearly 2 million people around the world became millionaires last year, a year-over-year increase of 15 percent, as surging stock and home markets lifted the fortunes of the wealthy. The increase raised the number of millionaires to a record 13.7 million.

A report from consultant Capgemini and the Royal Bank of Canada estimated the combined net worth of millionaires at $53 trillion in 2013. That was up 14 percent from the year earlier — the second-biggest increase since the two companies began issuing wealth reports with comparable data in 2000.

The accelerating pace of wealth accumulation among the affluent coincides with a widening gap between the rich and everyone else in many developed countries.

Japan gained 425,000 millionaires — a rise of 22 percent, its biggest year-over-year increase since 2000. Japan’s was the largest percentage gain among the 25 countries with the most millionaires.

A big reason for the jump in Japan was surging stocks. The Nikkei 225, the main stock index, rose 57 percent last year. By contrast, the Standard and Poor’s 500, an index of big U.S. companies, rose nearly 30 percent.

Japanese millionaires totaled 2.3 million, second only to the United States. The number of U.S. millionaires rose 570,000, 17 percent, to 4 million.

Globally, a bigger increase in the number of millionaires and in combined wealth occurred in 2009, when many stock markets began rising from multi-year lows.

Much of the world’s stock wealth is concentrated among the rich. In the United States, for instance, 80 percent of stock is owned by the wealthiest 10 percent of households. Rising stock prices have helped boost the net worth of the wealthy and, thanks to dividends, their income.

By contrast, the middle class in many countries has struggled as millions of jobs wiped out in the financial crisis have yet to return. And wages, their primary source of income, have barely kept up with inflation.

In the United States, incomes for the highest-earning 1 percent rose 31 percent from 2009 through 2012, after adjusting for inflation, according to data compiled by Emmanuel Saez, an economist at University of California, Berkeley. For everyone else, income rose an average of 0.4 percent.

The new wealth report tracks net worth of individuals, with assets defined as investments such stocks, bonds, cash, and primary residences. The report is based on a survey this year of more than 4,500 people in 23 countries.

 

The Associated Press

The Associated Press

LEAVE A COMMENT

Discussion | No comments

The Daily Republic does not necessarily condone the comments here, nor does it review every post. Read our full policy

.

Solano News

The Salvation Army serves 1,000-plus across 2 days

By Susan Hiland | From Page: A1, 7 Comments | Gallery

 
Blue Christmas service offers reflection, hope

By Amy Maginnis-Honey | From Page: A1

Shining bright for all to see: Locals deck out yards, homes

By Amy Maginnis-Honey | From Page: C1, 1 Comment | Gallery

 
Time for annual Solano County quiz

By Brad Stanhope | From Page: A2

Bevy of holiday activities at Western Railway Museum

By Amy Maginnis-Honey | From Page: A3 | Gallery

 
State Fair scholarship applications available

By Amy Maginnis-Honey | From Page: A3

 
Get tested, know your status

By Morgan Westfall | From Page: C4

 
Free New Year’s celebration slated

By Amy Maginnis-Honey | From Page: A5

 
 
New development fees start Jan. 1 in Vacaville

By Amy Maginnis-Honey | From Page: A5

New technology chief will join McNaughton Newspapers

By Tanya Perez | From Page: B7 | Gallery

 
A word of warning for Senator Warren

By Bud Stevenson | From Page: B7, 9 Comments

 
Fairfield police log: Dec. 19, 2014

By Susan Hiland | From Page: A9

Suisun City police log: Dec. 19, 2014

By Susan Hiland | From Page: A9

 
Sky-high price has VA rationing hep C drug

By Tom Philpott | From Page: B10

.

US / World

 
Air Force admits nuke flaws, but will fixes work?

By The Associated Press | From Page: A1

 
Officials: Missing dog was dyed to deceive

By The Associated Press | From Page: A5

Immigrants build document trails to remain in US

By The Associated Press | From Page: A5

 
California officer kills teen after machete attack

By The Associated Press | From Page: A5, 2 Comments

 
4 teens die in fiery head-on crash in Pennsylvania

By The Associated Press | From Page: A6

 
2 dozen injured in southern Indiana bus crash

By The Associated Press | From Page: A6

Texas ranchers seeking alternative incomes

By The Associated Press | From Page: A7, 1 Comment

 
North Korea proposes joint probe over Sony hacking

By The Associated Press | From Page: A10

2 car bombs rock southern Sweden’s city of Malmo

By The Associated Press | From Page: A10

 
Bombings kill 12 in Iraq

By The Associated Press | From Page: A10, 1 Comment

US sends 4 Afghans back home from Guantanamo

By The Associated Press | From Page: A10

 
Panama’s Noriega in prison 25 years post-invasion

By The Associated Press | From Page: A10

Burying the dead after Pakistan’s school massacre

By The Associated Press | From Page: A11

 
A chance to breach divide for young in Cuba and US

By The Associated Press | From Page: A12

.

Opinion

Editorial Cartoon: Dec. 21, 2014

By Daily Republic Syndicated Content | From Page: A8, 1 Comment

 
New school finance strategy lacks accountability

By Dan Walters | From Page: A8

Season’s greetings from the Obamas

By Alexandra Petri | From Page: A8, 1 Comment

 
Sound off for Dec. 21, 2014

By Daily Republic | From Page: A8

 
.

Living

Today in History: Dec. 21, 2014

By The Associated Press | From Page: A2, 4 Comments

 
Vatican offers olive branch to US nuns

By The Associated Press | From Page: C3, 1 Comment

Why celebrate Christmas?

By Noel Reese | From Page: C3, 2 Comments

 
Horoscopes: Dec. 21, 2014

By Holiday Mathis | From Page: C4

Should I ask grandson why we weren’t included in wedding photos?

By Kathy Mitchell and Marcy Sugar | From Page: C4

 
.

Entertainment

Publisher hopes to sell books through Twitter

By The Associated Press | From Page: C6

 
Chris Colfer has multi-book deal

By The Associated Press | From Page: C6

Jerry Lee Lewis: Sustained by brief blaze of glory

By The Associated Press | From Page: C6

 
Review: ‘Five’ by Ursula Archer is intriguing

By The Associated Press | From Page: C6

PUBLISHERS WEEKLY BEST-SELLERS

By The Associated Press | From Page: C6

 
TVGrid

By Daily Republic Syndicated Content | From Page: B11

.

Sports

Interim coaching jobs present challenges in bowls

By The Associated Press | From Page: B1

 
49ers squander 21-point lead in 4th straight loss

By The Associated Press | From Page: B1

New Giants 3B McGehee eager to play back home

By The Associated Press | From Page: B1

 
No. 11 Lady Vols trounce No. 7 Stanford 59-40

By The Associated Press | From Page: B3

Eagles near elimination, fall 27-24 to Redskins

By The Associated Press | From Page: B3

 
Raiders place cornerback Brown on injured reserve

By The Associated Press | From Page: B3

Big moves bring big hope for Chicago baseball

By The Associated Press | From Page: B4

 
US skier Nyman wins Gardena downhill for 3rd time

By The Associated Press | From Page: B4

Vonn wins women’s World Cup downhill in France

By The Associated Press | From Page: B4

 
This date in sports history for Sunday, Dec. 21, 2014

By The Associated Press | From Page: B5

 
.

Business

Your info has been hacked. Now what do you do?

By The Associated Press | From Page: B7

 
On the money: 4 ways to hold on to your cash when renting a car

By The Associated Press | From Page: B7

 
Recalls this week: Bean bag chairs, toy monkeys

By The Associated Press | From Page: B8

 
Scarecrows outnumber people in dying Japan town

By The Associated Press | From Page: B12

.

Obituaries

Dominic C. Scolaro

By Nancy Green | From Page: A4

 
Barbara Jean Bidstrup Braker

By Nancy Green | From Page: A4

Perry Michael Smetts

By Nancy Green | From Page: A4

 
Luzdivina B. Banks

By Susan Hiland | From Page: A4

Arnold Howard Evans

By Susan Hiland | From Page: A4

 
Anthony Hanson Elder

By Susan Hiland | From Page: A4

Marian Kay Zutz

By Nancy Green | From Page: A4

 
Bart Ferro

By Nancy Green | From Page: A4

.

Comics