The U.S. Now Has More Millionaires Than Sweden or Portugal have People

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The number of wealthy households in the U.S. reached a new high last year, roughly equivalent to the entire population of Sweden or Portugal. 

More than 10.2 million households had a net worth of $1 million to $5 million, not including the value of their primary residence, according to a survey by the Spectrem Group. 

Even as the ranks of the mass affluent grew, the pace slowed because of “weakening global economic growth and a contentious U.S. political environment,” said Spectrem Group President George Walper.Ultra-high net worth households -- those with assets between $5 million and $25 million -- increased 3.7 percent to about 1.4 million in number, while those in excess of $25 million grew by about 0.6 percent to 173,000, according to the survey. 

The number of Americans in the wealthiest category has more than doubled since the Great Recession, the survey found, even as the rate of increase has eased.Read the full article on Bloomberg.