RJ and Makay

In the past two months, investors’ confidence in their outlook for global growth and corporate profits substantially slipped, according to a May Bank of America Merrill Lynch survey of global fund managers.

The proportion of respondents who believe the world economy would be strengthening in the next 12 months fell to a net 10%, down from 27% in April and 58% as recently as February. Only 9% of respondents are expecting corporate profits to improve in the coming year.

In a newly issued report, the Deloitte Center for Financial Services predicts that total global wealth of millionaire households in 25 major economies will more than double by the end of this decade to $202 trillion from $92 trillion this year.

Millionaire wealth in emerging economies could grow by 260%, while in developing nations, a rise of 107 % is expected.

You'd never expect it because of the economy, but there are actually more billionaires — 199 more, to be exact — than last year.

According to Forbes magazine's annual billionaire headcount, there are now 1,210 billionaires worldwide. The top three on the list are the same as last year: Mexican media mogul Carlos Slim ($74 billion), Microsoft founder Bill Gates ($53 billion), and Investor Warren Buffet ($50 billion). However, all of the list's newcomers are from outside the U.S. and reside mainly in BRIC countries (Brazil, Russia, India and China), reflecting dramatic change in the global economy.