Ranks of Israeli millionaires swell 13%
Merrill Lynch: Israel had 7,200 millionaires with $35 billion in aggregate assets in 2006.
Shay Niv 27 Jun 07 17:08
Commenting on the Merrill Lynch and Capgemini “World Wealth Report”, Merrill Lynch Israel senior VP private banking Ori Goldfarb says, “The rapid rise and unprecedented yields in emerging markets, especially Brazil, Russia, India and China, caused the world’s high net worth individuals in Israel and other countries to make aggressive investments in these markets, with a focus on high yield and high risk products, such as real estate, goods and capital markets.”
The “World Wealth Report” says that Israel had 7,200 persons in 2006 with net liquid assets in excess of $1 million, 12.9% more than in 2005. In addition, the number of Israeli multimillionaires - people with more than $30 million in liquid assets - rose by 15% in 2006, compared with 2005, to 87 persons, most of whose wealth is in the capital market.
The aggregate wealth of Israel’s rich totaled $35 billion in 2006, 17% more than the $30 billion in 2005.
Published by Globes [online], Israel business news - www.globes.co.il - on June 27, 2007