Number of Millionaires in Russia Rises 15% in 2006 - Report

The number of Russian dollar millionaires rose 15.5% in 2006 compared to the previous year, according to an annual report released by investment company Merrill Lynch and the Capgemini Group consultancy.

The World Wealth Report said the global number of millionaires increased 8.3% in 2006 to total 9.5 million with overall wealth of $37.2 billion. The report did not break the figure down into numbers for individual countries.

The document said China and Russia were among the top ten countries with the fastest growing number of superrich, or High Net Worth Individuals (HNWIs).

"The globalization of wealth creation has accelerated," said Bertrand Lavayssiere of Capgemini Financial Services.

"If 2005 was characterized by a flow of investment to international funds from HNWIs, 2006 ushered in a new era whereby emerging economies leaped ahead with direct foreign investment, strong domestic demand, and hefty stock market gains."

Source: RIA-Novosti

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