A recent study on U.S. wealth by the Spectrem Group concluded there were 8.4 million American millionaires at the end of 2010.
That’s 800,000 less than in 2007!
You might think the real estate bust explains the disappearance of these 800,000 millionaires… but that isn’t the whole story.
You see, the number of new millionaires in other parts of the world soared by 3.8 million over the same time.
So why is the wealth of Americans vanishing while the rest of the world gets richer?