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This is an archive article published on August 23, 1999

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Rich get richerSeems like the trickle-down theory needs to be reworked. For the world's dollar millionaires will be 50 per cent richer wi...

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Rich get richer

Seems like the trickle-down theory needs to be reworked. For the world8217;s dollar millionaires will be 50 per cent richer within the next five years after experiencing an excellent year 1998. According to Economiquity, a newsletter brought out by the Centre for International Trade, Economics and Environment CITEE, an annual world health report brought out by Merrill Lynch and Gemini consulting have revealed this finding.

Termed as high net worth individuals HNWI, these dollar millionaires got 12 per cent richer in 1998 when their combined assets reached 21.6 trillion. According to Steven Beck of Gemini Consulting, 8220;HNWIs with well-constructed portfolios were not adversely affected by last year8217;s turmoil and those that rode out the storm made significant gains by the year-end.quot;

 

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