Israeli millionaires drop by 28 percent

Israeli millionaires drop by 28 percent

JERUSALEM (JTA) — The number of Israeli millionaires has fallen by 28 percent, nearly twice the global total.

According to the Merrill Lynch World Wealth report released June 25, Israel now has 5,900 “high net worth individuals,” defined as those with at least $1 million in liquid financial assets, down 2,300 from the 2008 report.

The number of global millionaires fell by 14.9 percent, according to the report.

In the United States, the number dropped by 18.5 percent. Hong Kong lost the most millionaires, 61 percent, from the previous year.

According to the report, the number of Israeli “ultra-high net worth individuals,” with liquid assets of at least $30 million, fell by 24.6 percent, from 97 to 73.