More Millionaires but More Economic Problems. Money News is Up N

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The number of millionaires worldwide has hit an all-time record. Last year, more than 10-million people had at least 1-million-dollars in assets. The combined assets of those making the millionaire cut reportedly equaled about 41-trillion-bucks, which marked a 9-percent increase from 2006. While 1 in 3 millionaires reside in America, the countries with the fastest growth in wealth include China, India and Brazil. Experts link the increase of international millionaires to inflation and world economy expansion.

The most expensive work of art was sold by the well-known Christie’s auction house in Europe on Tuesday. The painting by famous impressionist Claude Monet hit the record books at a sale price of more than 80-million-dollars. This particular artwork, titled ‘Le Bassin aux Nympheas’ or ‘Water Lily Pond’ is one of four oil paintings signed by the artist in 1919. Christie’s auction house began its modern art sale this week.

The Federal Reserve plans to put a stop to the past-9-month rate cuts this week. The decision comes after many economists said they think the US economy will rebound the second half of this year. However, a private business research group surveyed abo

1. By: getthedaily
2. Categories News & Events
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4. Added :26-Jun-08
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