News Summary: Asia home to most millionaires

Published June 20, 2012 4:24pm ET



THE NEWS: Asia’s millionaires outnumbered North America’s for the first time last year even as the world’s wealthy saw their fortunes decline amid turbulent financial markets, a new survey says.

THE NUMBERS: The Asia-Pacific region was home to 3.37 million high net-worth individuals, who are defined as having at least $1 million to invest. Their numbers were up 1.6 percent from the year before, although their combined wealth shrank 1.1 percent to $10.7 trillion.

THE RUNNERS UP: North Americans still held the biggest share of world wealth at $11.4 trillion, even though it was down 2.3 percent.