While millionaires generally favour Republican Presidential
contender Mitt Romney over incumbent Barack Obama, high net worth individuals
under the age of 45 favour the latter candidate, according to a survey.

The results were released a day after Romney and Obama held
the first of their televised debates yesterday evening. Fieldwork for the survey was carried out in the middle of September. Last night’s debate has
been widely described in the media as a success for Romney.

Asked who they favor for the upcoming election, individuals
with $1 million or more in liquid or investable assets said they preferred
Romney over Obama (51 per cent to 37 per cent), with the rest undecided or favoring
others on the list of choices, according to a survey by Phoenix Marketing
International, a research company.

The firm’s The Phoenix Global Wealth Monitor was based on views
of nearly 1,200 affluent and high net worth households in the US.

The study found that age, and not necessarily wealth, was a
much stronger predictor of election preference. 
Millionaires of ages 35-44, favored Obama by a balance of 48 per cent to
41 per cent for Romney.  The results were
even more striking for the youngest millionaires: 57 per cent under the age of
35 favored President Obama to Mitt Romney’s 25 per cent.

“This data clearly shreds the stereotype that the wealthiest
among us will overwhelmingly support Mitt Romney,” said David M. Thompson, Managing
Director of the Phoenix Affluent Practice. 
“It is fascinating to see that those who have accumulated a lot of
wealth early in life do not appear to be as concerned with the tax or spending
platforms of the Democratic party as their older counterparts,” continued
Thompson.