1 in 50 Dubliners is a millionaire

Brendan Burgess

Brendan Burgess

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According to a report in the Irish Times

http://www.irishtimes.com/business/...every-50-dubliners-is-a-millionaire-1.1876745

“For Dublin itself, an abundance of millionaires could help the city claw back its financial prowess from 2008’s collapse,” he added.


WealthInsight defines a millionaire as an individual with net assets of $1 million or more, excluding their primary residence.
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Doesn't sound right to me.

What is the population of Dublin? 1.5m?

That is 30,000 millionaires.
 
Does it include pension fund values or, for those with DB pensions, the value of what it would cost to find their pensions? If it does then most retired Gardai, most retired senior Civil Servants and many many others from the banking sector would qualify but it would be ridiculous to think that they are really millionaires.
 
If I move to Dublin does that mean I have a 1 in 50 chance of becoming a millionaire
 
roker said:
If I move to Dublin does that mean I have a 1 in 50 chance of becoming a millionaire
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Just keep buying return tickets to Dublin, telling yourself every time that you are "Moving to Dublin", until a chauffeur appears at the end of the platform holding a placard with your name on it.

Better odds that the Lotto I imagine. "If you're not in..." ;):p
 
Brendan Burgess said:
Doesn't sound right to me.

What is the population of Dublin? 1.5m?

That is 30,000 millionaires.
Click to expand...

Sounds perfectly feasable to me. How many houses in Dublin are worth a million, how many half a million, add in pension, cash, other assets, inheritances and there you have your 30,000 millionares. I assume they didn't know off mortgages for the calculations.
 
Bronte said:
Sounds perfectly feasable to me. How many houses in Dublin are worth a million, how many half a million, add in pension, cash, other assets, inheritances and there you have your 30,000 millionares. I assume they didn't know off mortgages for the calculations.
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"WealthInsight defines a millionaire as an individual with net assets of $1 million or more, excluding their primary residence."...that would rule out the houses. I'm not sure if pensions are included if they are not readily accessible?
 
Hello,

Assuming the original quote is intended to show the dollar sign & I imagine, refers to US$, then it's approx. €800k.

Given the considerations raised above (such as pensions, property assets (excl. family home) etc.) then one in fifty does not seem unrealistic.
 
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