World's Richest People: Asia Poised to Pass U.S.

As Asia's economic growth races ahead of that of the U.S., the investment portfolios of Asia's wealthiest people are picking up enough momentum to launch them past their North American counterparts.

A report released on Oct. 13 by Merrill Lynch and consulting firm Capgemini Financial Services projects that with the global recession easing, the total net worth of Asia-Pacific's wealthy — those with at least $1 million in investable assets — is set to grow at a faster pace than the holdings of rich people in other parts of the world. If this trend takes hold, the total value of assets held by Asia's rich could surpass the combined assets of North America's wealthy by 2013.

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