The irony of today's headlines: Reports of more millionaires worldwide, as well as more refugees as a result of poverty and war.
Global millionaires increase: The number of people globally with more than $1 million in net assets rose 6.5 percent in 2005 to 8.7 million, according to a report released on Tuesday. The 10th annual World Wealth Report by Merrill Lynch and consultants Capgemini found this group of millionaires owned $33.3 trillion in net assets in 2005. The figures exclude their primary residence. Those with financial assets of more than $30 million -- known as ultra high net worth individuals -- grew to 85,400.
The number of U.S. millionaires slowed, but it remained home to the greatest number with 2.67 million millionaires. Germany had 767,000 millionaires, the UK had 448,000 and China had 320,000 in 2005, according to the survey. Brazil had 109,000, Russia had 103,000 and India had 83,000.
The survey authors forecast that the financial wealth of millionaires around the globe will reach $44.6 trillion by 2010, growing at an annual rate of 6.0 percent.
Meanwhile, no end in sight for Africa's suffering masses: Veteran correspondent Jeff Koinange ends his report on refugees in Africa with the following statement:
"What makes us revert to our basic, animalistic instinct? What makes one ethnic group want to destroy another? After all, this is the 21st century. Are we not yet civilized? Questions I'll be asking myself for a long time. There seems no end in sight for the agony of Africa's suffering masses."
The first group mentioned sharing some of their wealth with the second group would be a start.
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