Meet the Secretive Rich Funding Efforts to Keep Others Poor

Source: Common Dreams
by Sam Pizzigati

“America, a new report details, is minting millionaires at a record pace. Some 37% of the world’s millionaires, analysts at the wealth advisory firm Henley & Partners calculate, now call the United States home. And these analysts are talking real millionaires, not those Americans who rate as ‘millionaires’ only because they’re living in homes that have wildly appreciated in value since their purchase decades ago. Those appreciations have left typical 50-something American homeowners, the latest Federal Reserve stats show, with personal net worths a bit over $1 million. The researchers from Henley and their partners at New World Wealth don’t count these house-rich homeowners as millionaires. They only rate as millionaires those households with over $1 million in investible assets — and the United States, their research finds, hosts far, far more of these honest-to-goodness millionaires than any other nation on Earth.” (04/03/24)