One out of every 15 Americans is a millionaire, UBS says

msn.com

7 pointslxm8 comments

This used to be Credit Suisse global wealth report. It was really good and comprehensive.

Now it's just 40 page crude overview.

>This used to be Credit Suisse global wealth report

'This' being UBS? or Fortune?

UBS bought Credit Suisse. Credit Suisse Global Wealth Report was produced by their research team.

Fortune is just 'womens magazine' for businessmen. Their rankings are completely useless gossipy data.

Got it. Are you disputing the UBS, ie can I, research? 1 in 15 American are millionaires?

He's just sad because it used to be even better. I agree.

Did they count their liabilities? If I "owned" a million dollar home that I own more than a million dollars on, I'd be a millionaire too otherwise.

From the UBS report, page 33:

> Net worth or “wealth” is defined as the value of financial assets plus real assets (principally housing) owned by households, minus their debts.