Editor’s note: This article was first published in June 2010. All figures refer to 2009, including 143,000 millionaires in Spain, 16,000 of them new, so currently means 2010.
We consider a person rich or a millionaire when their wealth exceeds one million euros/dollars in investment assets, not counting their main home or consumer goods.
2009 was a year of economic recession, which is why 16,000 people in Spain decided to look for new business alternatives.
While much of the country was frightened by the crisis, and the fear of investing in the stock market led some investors to sell their shares in a hurry, others seized the moment, knowing that the time you really make money on the stock market is when the market is falling, not when it is rising.
That’s why 2009 was the year in which stock market investors made the biggest profits. This, together with the fall in interest rates, swelled the ranks of large fortunes in Spain.
Add another 16,000 new rich people to those who already existed, and you get a total of 143,000 millionaires in Spain.
In short: in Spain there are currently 143,000 people with assets of more than one million euros.
It’s yet another example of how, in times of crisis, some people complain while others take advantage. Do you still doubt that “crisis equals opportunity“?
Further reading
- How to become a successful entrepreneur (part 1)
- The cashflow quadrant
- Differences between a Spanish and an American entrepreneur
- What to invest in during a crisis
Featured image: Luis García, CC BY-SA 3.0, via Wikimedia Commons.
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