The Ranks of the Ultrawealthy Grow

About 47,000 people had a net worth of $20 million or more in 2004, the latest available year, according to new estimates by the Internal Revenue Service. While that was up only slightly from 46,000 in 2001, it was up 62% from 29,000 in 1998.

The IRS also reported increases in the number of people with a net worth between $10 million and $20 million: 79,000 people qualified for this group in 2004, up from 77,000 in 2001 and 51,000 in 1998.

Full-text article by Tom Herman is available via the Wall Street Journal, 8.28.08.

Disney Children's Hospital at Florida Hospital will be Model for Pediatric Care Nationwide

Officials from Florida Hospital revealed new details about their visionary plans to shape the 'Children's Hospital of the Future,' which will make a significant impact on children's health throughout Central Florida and be a model for pediatric hospitals beyond the region.

Full-text press release is available via MarketWatch / Disney Children's Hospital at Florida Hospital, 8.27.08.

10 Things Millionaires Won't Tell You

They may not buy the 99-cent paper towels, but millionaires know what it is to be frugal. About 80 percent say they spend with a middle-class mind-set, according to a 2007 survey of high-net-worth individuals, published by American Express and the Harrison Group.

Full-text article by Daren Fonda is available via SmartMoney, 8.29.08.

Where the Money Is: America’s Top Wealth Centers

A new study by Bizjournals identified 10 wealth centers — communities that manage to blend substantial size (populations above 100,000) with considerable affluence.

Full-text article by G. Scott Thomas is available via San Antonio Business Journal, 8.22.08.

Charity Buoyed by Resilience of Wealthy Donors

The economic slump is already causing financially stretched middle-income Americans to curtail their charitable donations, but philanthropic giving by the wealthy is likely to remain strong – if not quite as generous – throughout the rest of the year.

The timing of big gifts could be affected, too, as most large donations tend to be driven by events such as the selling of a piece of appreciated real estate, or liquidating a family business – occasions that could be delayed by volatility in the stock market.

Full-text article by Rebecca Knight is available via the Financial Times, 8.19.08.

US News Sees Drop in Participation

This year’s 46% participation rate in the annual US News and World Report college ranking is down from 51% last year, 58% the year before that, and 67% a few years prior. The drop this year was particularly steep for liberal arts colleges -- to 44% from 55%.

Full-text article by Scott Jaschik via Inside HigherEd, 8.22.08.

Philanthropy Thrives: Queenslanders Give Millions

In tough economic times, state's wealthiest people are proving they have deep pockets as well as impressive bank balances.

Philanthropy is alive and thriving in the Sunshine State as The Sunday Mail Queensland Top 100 Rich List, to be published next week, reveals.

Full-text article by Daryl Passmore is available via The Sunday Mail, 8.24.08.