The wealth of rich Asians has surpassed Europe’s millionaires for the first time as the region’s stock and property prices rebounded from the global recession, a report showed Wednesday.
The wealth of Asia’s high net worth individuals – those with liquid assets of at least $1 million – jumped 31 percent last year to $9.7 trillion, surpassing Europe’s $9.5 trillion, according to a report by Merrill Lynch Wealth Management and Capgemini. For the first time, the size of Asia’s rich population equaled that of Europe at 3 million.
