Western Europe Has Most Millionaires, Study Finds

Publication: National Geographic News   Date: July 11, 2003   View Article

In real life, unlike reality TV, Europe really is the place to meet an honest Joe (or Jo) millionaire, according to a recent report of the world’s richest people. The continent is home to approximately 2.6 million of the deep-pocketed individuals.

“In Europe there is a lot of old and inherited money. There has been capital formation for a number of years, centuries really,” said Jim Wiggins, a spokesman for Merrill Lynch’s Global Private Client Group in New York.

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