The wealth of world's rich people dropped nearly 20 per cent to USD 32.8 trillion, while India saw the second largest decline in the number of High Net Worth Individuals at the end of 2008, says a report.
The population of HNWIs shrank by about 15 per cent to 8.6 million and in India, the numbers came down by 31.6 per cent to 84,000, says the World Wealth Report from Merrill Lynch and Capgemini.
HNWIs are referred to those who have at least USD one million in investable assets, excluding primary residence, collectibles, consumables, and consumer durables.
"At the end of 2008, the worlds population of HNWIs was down 14.9 per cent from the year before to 8.6 million, and their wealth had dropped 19.5 per cent to USD 32.8 trillion.
The population of HNWIs shrank by about 15 per cent to 8.6 million and in India, the numbers came down by 31.6 per cent to 84,000, says the World Wealth Report from Merrill Lynch and Capgemini.
HNWIs are referred to those who have at least USD one million in investable assets, excluding primary residence, collectibles, consumables, and consumer durables.
"At the end of 2008, the worlds population of HNWIs was down 14.9 per cent from the year before to 8.6 million, and their wealth had dropped 19.5 per cent to USD 32.8 trillion.
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