Millionaires Times Five

America’s very wealthy population is on the up and up, according to a report released earlier this week by the Spectrem Group. The report says U.S. households with a net worth of $5 million or more climbed to 1.14 million in 2006–a 23 percent rise from 2005 and passing the 1 million-mark for the first time in history.

A Wall Street Journal blog captures the report:

The number of “lesser” millionaires and affluent Americans also
increased, according to Spectrem. The group says there are now 9
million households in the U.S. worth $1 million or more, while the
number of affluent households — those with $500,000 or more — grew to
15 million in 2006, up 9% from 2005.

In other words, the fastest population growth was at the top of the
top. Over the past decade, the number of households worth $5 million or
more has more than quadrupled, Spectrem says.

It’s all further proof of the widening gap among the rich — with those
at the top of the top doing better than those at the bottom of the top.

-kc

• Five Million Is the New Million (The Wealth Report, a Wall Street Journal blog)
• U.S. Households Worth $5 Million or More Exceed 1 Million for First Time Ever (PRNewswire release)
• Richest households pass 1 million mark (CNNMoney.com)
• Super-rich population surges in 2006: survey (Reuters.com)