China has more millionaires than FranceAccording to the 2008 Merrill Lynch and Capgemini World Wealth Report China now boasts more millionaires than France. At the end of last year China weighed in with a total of 414,900 people worth more than one million dollars excluding their principal residence, while France had only 394,000 of this group. China is now only behind the U.S., Japan, Germany and Britain in terms of High Net Worth Individuals, or HNWIs as the study calls them.
The way things are going, China could easily bump the U.K. from the number four slot soon. Last year the number of millionaires grew by an eye popping 20.3%, while Britain, with 495,000 HNWIs, saw their numbers grow by only 2.1%. India is also rising fast, minting 22.7% more millionaires last year for a total of 123,000.