Millionaires’ Ranks Shrank by 15% Last Year, According to New Survey

The number of millionaires worldwide shrank by 15 percent in 2008, an ominous sign for philanthropy.

The survey by Capgemini and Merrill Lynch found that the recession cut the number of millionaires to 8.6 million, according to Bloomberg news service. Their assets dropped 20 percent, to $32.8-trillion, after a 9.4 percent increase the previous year, according to the companies’ 13th annual World Wealth Report.

Rich people around the globe took a beating. However, the wealth of millionaires in the Asia-Pacific region is expected to surpass that of North American millionaires by 2013, the survey found.

The very rich — those with at least $30-million in assets — were hit even harder by the financial crisis. Their wealth declined by 25 percent, the study said.

The United States still has the largest number of millionaires, followed by Japan, Germany, China, and the United Kingdom.