Ranks of millionaires jumped last year

http://www.msnbc.msn.com/id/35778277/ns/business-personal_finance/

updated 10:58 a.m. ET, Tues., March. 9, 2010
The number of U.S. households with a net worth of at least $1 million jumped 16 percent last year after dipping sharply during the financial crisis, an industry consulting group said on Tuesday.

Households with a net worth of $1 million or more, excluding their primary residence, totaled 7.8 million in 2009, up from 6.7 million in 2008, according to Spectrem Group.

The number of millionaire households shrank by 27 percent in 2008, it said.

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The study also found ultra high net worth families -- those with at least $5 million -- grew 17 percent last year to 980,000, Spectrem said.

Households with $500,000 or more topped 12.7 million, up 12 percent.

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