- Millionaire households in U.S. has jumped by more than 700,000 in the last year
- The U.S. now has a record of more than 11 million millionaire households
- Surging stock prices and housing values have helped the growth
- There are double the number of millionaire households has doubled since the financial crisis of 2008
The number of millionaire households in the U.S. has risen by more than 700,000 in the last year alone.
Much of the growth is due to surging stock prices and rising house values.
The U.S. now has more than 11 million millionaire households, according to a new report by the Spectrem Group.
Spectrem defines millionaire households as those with at least $1 million in investible assets, not including their primary residence.
'It was the equity markets that really pulled these folks up,' said George Walper, president of Spectrem Group. 'This is the group that has the most equity holdings, so the biggest change is at the high end.'
Looking at the figures, it becomes clearer as to why such wealth has been created.
The S&P 500 gained 19 percent last year and the Dow was up 25 percent.
In 2009, there under 6 million millionaire households and it has gown every year since.
Richer multimillionaires have done the best according to CNBC, since they have the largest share of stocks relative to their overall wealth.