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More millionaires than New Yorkers

(Dubai, United Arab Emirates-AP) June 20, 2006 - There's word Tuesday that the number of millionaires around the world rose to 8.7 million last year.

That's half-a-million more than the population of New York City.

The report from Merrill Lynch and a consulting firm finds the millionaires are investing more aggressively. They're putting cash in emerging markets and taking it out of more conservative fixed-income holdings.

The Middle East saw nearly 10 percent growth in millionaires. Record oil revenues and soaring stock markets pushed 300,000 people over the million dollar mark.

North America held a slight edge over Europe in the population of millionaires, with 2.9 million to Europe's 2.8 million.

Posted 11:28am by Bryce Mursch

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