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The Super-Rich Lost Money in 2011

Written by Gary North on June 20, 2012

The top 100,000 people in the world with very high net worth — at least $30 million to invest — lost money in 2011. They are down an estimated 5%.

They are not yet in bread lines, of course. But it reminds us that the capital markets are unpredictable. There can be down years, even for the rich.

Meanwhile, the news from Asia is that Asia now has slightly more millionaires than North America does. Of course, there are far more people in Asia.

The total number is about 3.4 million people with at least $1 million to invest.

This is the first time Asia rated first — just barely.

Their total wealth was down 1.1%: to $10.7 trillion.

North Americans had a little more wealth: $11.4 trillion. This was down 2.3%

Europe was third: 3.2 million of these people, with $10.1 trillion.

So, there are about 11 million people with over $1 million to invest. Their total net worth was $42 trillion.

The fact that there are now more millionaires in Asia than in North America does not make North Americans poorer. When others get rich, we all should rejoice. Envy should not motivate us: the desire to pull down successful people.

It is always better to trade with successful people than with unsuccessful people. They have more to trade.

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2 thoughts on “The Super-Rich Lost Money in 2011

  1. Let's take a closer look at Barack Obama………….

    1). Occidental College records – SEALED.

    2). Columbia College records – SEALED.

    3). Columbia Thesis paper – SEALED.

    4). Harvard College records – SEALED.

    5). Selective Service Registration – SEALED.

    6). Medical Records – SEALED.

    7). Illinois State Senate schedule – SEALED

    8). Illinois State Senate records – SEALED.

    9). Law Practice client list – SEALED.

    10). Certified Copy of original Birth Certificate – SEALED.

    11). Signed Embrossed paper Certification of Live Birth – SEALED.

    12). Baptism Record – SEALED.

    13). Michelle Obama can no longer practice law as an attorney – WHY?

    14). Michelle Obama has 22 assistances, when other first ladies had only one – WHY?

    15). Barack Obama received "foreign student aid" as a college student…..

    16). Used _??_ country's "passport" when he visited Pakistan in 1981………

    17). Barack Obama is a member of the Communist Party of America (CPUSA).

    18). Barack Obama stated to the SEIU on 8/17/2007 – Your agenda has been my agenda….

    19). Barack Obama stated to La Raza on 7/13/2008 – We rise and fall together as one people,
    ….And together,…we will transform this nation (America).

    20). The Communist Party of America (CPUSA) has endorsed Barack Obama in
    2004, 2008 & in 2012.

    21). Barack Obama has very close ties with George Soros & William Ayers.

    22). In 2007 & again in 2012, Barack Obama has received 10's of millions from the government of China.

    23). On 1/17/2008 – Barack Obama stated "If someone wants to build a coal-powered plant,
    they can, it's just that it will bankrupt them… under my plan of cap and trade system, electricity
    rates will necessarily skyrocket )."

  2. Displeased By Greed says:

    I should feel sorry for the rich who lose money when I am forced to make ends meet. Tea party must be smoking that weed again. I could care less about the uber-rich. They create jobs? Bull hockey!!! Where are the GOP jobs that are being promised? As long as they keep trying to make Obama look bad, by not creating any jobs, who suffers? Not them by any means. When wars are started, where are the children of the rich? Not fighting, that's for sure. So why should we (or me ) care?