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Rich families in north America are on the rise. There are 3.2m individuals with more than $1m in financial assets and their numbers are expected to grow by 7.7 per cent a year between 2007 and 2012. Of these, 38,000 are so-called "ultra-high net worth", with more than $30m of financial assets.
This section of the market has proved relatively resilient to the global downturn.
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SocGen in Alliance with US Wealth Manager
Scheherazade Daneshkhu
Financial Times
17 June 2008
http://us.ft.com/ftgateway/superpage.ft?news_id=fto061720081327115387&page=2
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