Thursday, June 28, 2007

World's wealthy worth $37.2 trillion: report | Reuters

World's wealthy worth $37.2 trillion: report | Reuters: "NEW YORK (Reuters) - The wealth of the world's rich and super rich surged 11.2 percent to $37.2 trillion last year but the elite group gave less than 1 percent of their net worth to charity, a study released on Wednesday said.

For the first time, the 11th annual World Wealth Report detailed philanthropic giving, and estimated that high net worth individuals turned over $285 billion to charitable causes in 2006. That's equivalent to someone worth $100,000 giving about $766 to charity, or 0.76 percent of their wealth.

The 11th annual report said, however, that rich people -- led by the ultra wealthy -- are increasing the financial resources, time and thought that they donate to charities."

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