There were 587,000 new millionaires created in the U.S. last year, more than double the number that joined the ranks in Japan, the country with the second most high net worth individuals (HNWI). SingaporeNot far behind Hong Kong in the race for economic freedoms top spot, Singapore is home to the worlds second highest number of millionaires by capita at 17.1%. KuwaitThanks to its significant oil reserves, 11.8% of Kuwaitis are US-dollar millionaires. To help break it down, weve visualized data from personal finance platform, WalletHub, which ranked the best U.S. states for retirement as of 2023. The US dominates the list with a total of 6 cities in the top 20. This industry has 371 billionaires that work within it, not to mention millionaires. These places tend to create a domestic base of entrepreneurs and also attract talent and capital more broadly, thus acting as a hub, he said. (September 1, 2022). Iceland used to have 6 billionaires on its shores before the financial crisis and now it is down to 1 - investorThor Bjorgolfsson. Accessed May 02, 2023. https://www.statista.com/statistics/294941/largest-ratio-millionaire-households-per-capita-us/, Kiplinger. From this perspective, the golden age at the start of the century was probably due to a favorable combination of factors, most especially the rapid transformation of China from an emerging nation in transition to a fully-fledged market economy, Credit Suisse said. San Francisco had the highest number of billionaires of any city on the list. [Online]. If you are an admin, please authenticate by logging in again. Please create an employee account to be able to mark statistics as favorites. How Does U.S. Electricity Generation Change Over One Week? California and New York are the top two U.S. states with the most billionaires, each claiming more than 100 billionaire residents. Capgeminis agreed to a point in its World Wealth Report 2020 this month. However, due to Iceland's small population, Iceland makes number 8 in the list. Not only did more Americans . And four countries that did not have a billionaire last year now have at least one citizen on the Forbes list: Uruguay, Estonia, Bulgaria and Barbados, which now has one very famous face (Rihanna) on the ranking. The Swiss franc currency has been on quite a roll in recent years, too, remaining a top safe haven currency in Europe. Total population:37.3 million, according to World Population Review. 9.76 %. Total population:9.7 million, according to Seoul Solution. 3. The Nordic countries of Norway and Denmark can be found in the top ten for average wealth, but they drop to 12th place ($80,054) and 19th place ($60,999) respectively for median wealth. The finance and investments industry produces the highest number of millionaires. Perhaps the most famous Israeli billionaire right now isbachelor Teddy Sagi, who made his money setting up gambling software maker Playtech. After a $13 billion (8.3 billion) bailout, a raft of a capital controls, and unemployment rising to 16%, Cyprus has struggled to grow again. This two-island country in the West Indies wereamong the first islands in the Caribbean to be settled by Europeans. This is a list of countries by their number of billionaire residents, based on annual assessments of the net worth in United States Dollars of wealthy individuals worldwide. Chart. Concentration of millionaires: 4.87% Rank: 46 (Unchanged from last year) Median income for all households: $49,861 Median home value: $147,900 Alabama is another state where you don't need a. The thirteenth edition of the Global Wealth Report shows continued wealth growth across all regions led by North America and China. Total population: 19.6 million, according to National Bureau of Statistics of China (last reported in 2010). The collective wealth of the countrys billionaires has fallen from $584 billion last year to $320 billion this year. FORTUNE may receive compensation for some links to products and services on this website. In 2007, he sold it to Merck for $9 billion (5.7 billion). In order to be considered HNW, individuals must have a net worth of more than $1 million, excluding their primary residence, as well as assets like collectibles and cars. That pace of growth is higher than the additions in the next nine . A paid subscription is required for full access. In 2007, he sold it to Merck for $9 billion (5.7 billion). Characteristic. Although the Southeastern state does not excel in any one dimension, it scores consistently well across all three to create a very balanced retirement profile. Terms & Conditions. New York has the most millionaires of any world city, but lost 12% of them in the first half of 2022. Total population: 5.1 million, according to the Australian Bureau of Statistics (last reported in 2021). The G7 nations, plus China and Switzerland, make up nine of the 10 countries with the most millionaires in the world (see chart below) and experts say their domination as global centers of wealth. The 25 countries with the highest HNWI populations. Another country shedding billionaires: Russia. 3. Fortune wants to hear how inflation is affecting your budget. Are you interested in testing our business solutions? Finally, wealth in Japan is fairly evenly distributed among its large middle class, which lands it in seventh place on the median wealth list at $103,861. The biggest reason for the drop? At a respective 285,000 and 205,400, San . Hong KongMore than 200,000 residents of this Special Administrative Region of China about 8.8% to be exact are US dollar millionaires. Third-placed Colorado is a mirror of Florida, offering excellent health care but a lower quality of life in comparison. In North America, 32% of millionaires total investments is in stocks, compared to just 29% of the global average. List of countries by number of billionaires, List of countries by number of millionaires, List of countries by share of income of the richest one percent, "The 15 top countries for billionaires, ranked by how many live there", "Hurun Report - Info - Hurun Global Rich List 2022", https://en.wikipedia.org/w/index.php?title=List_of_countries_by_number_of_billionaires&oldid=1149285975, This page was last edited on 11 April 2023, at 08:25. [Online]. So it's surprising that it counts only three people as billionaires as its residents. Check out this graphic on the top 25 countries to retire in. Having been voted the freest economy in the world for years now, Hong Kong is far from the worst place to be a millionaire. And yet Los Alamos has more millionaires per capita than almost anywhere else in the country. Thor Bjorgolfsson. As a Premium user you get access to background information and details about the release of this statistic. currently looking to buy out the embattled Plus500 trading firm. ", Credit Suisse, Countries with the highest proportion of millionaires in 2021 Statista, https://www.statista.com/statistics/262687/countries-with-the-highest-rate-of-millionaires/ (last visited May 02, 2023), Countries with the highest proportion of millionaires in 2021 [Graph], Credit Suisse, September 1, 2022. This includes, Swedish video game programmer and designer. The US dominates the list with a total of 6 cities in the top 20. To use individual functions (e.g., mark statistics as favourites, set SwitzerlandSome 9.5% of the Swiss are millionaires, placing the central European country fourth. This is a list of countries by the number of millionaires by net worth (in United States dollars) based on an annual assessment of wealth and assets compiled and published by the Swiss bank Credit Suisse. $58,905. Lansdown is worth $2.1 billion (1.3 billion) after co-founding British financial-services firm Hargreaves Lansdown. Which country has the most millionaires per capita? If youre a successful business owner or investor, you may be tired of getting hit with higher taxes and scorn from your home country. Thanks to said oil riches, residents pay zero income tax and very few other taxes. However, it has also fostered 23 billionaires as of this year. Access your favorite topics in a personalized feed while you're on the go. Total population:791,000, according to World Population Review. "Countries with the highest proportion of millionaires in 2021." Lets see how this shakes out when ranking the worlds most affluent countries. Timeline: Cannabis Legislation in the U.S. Visualizing the Relationship Between Cancer and Lifespan, Global EV Production: BYD Surpasses Tesla. Facebook: quarterly number of MAU (monthly active users) worldwide 2008-2022, Quarterly smartphone market share worldwide by vendor 2009-2022, Number of apps available in leading app stores Q3 2022, Profit from additional features with an Employee Account. The United Kingdom and Canada are fourth and fifth with around . The total net worth of all millionaires stood at around $158.261 trillion. It has one of the most technologically advanced market economies in the world. President Vladmimir Putins invasion of Ukraineand the swift backlash of the international communitysent Russian markets into a freefall in February. The number of U.S. millionaires increased by about 13.5% last year. Email reporterAlicia Adamczyk to share your story for a future article. Bjorgolfsson is worth around $1.28 billion (817 million). If you are an admin, please authenticate by logging in again. Taxes are largely levied by cantons and some offer flat rates. Between the skyscrapers and bright lights, it seems like millionaires just can't pull themselves away from allure of the concrete jungle. Mapped: Asias Biggest Sources of Electricity by Country. How Much Student Debt Does Each State Hold? Connecticut was ranked second in median household income and in 2016 stood at roughly $72,889. Looking at Minnesota once more, we can see that the state is also one of Americas most expensive. Jeff Bezoss $13 billion one day gain this week underlined the U.S.s status as the worlds center of wealth, but its not just him getting richer. Learn from our R&D playbook and meet like-minded people at our annual event. High inflation since the start of 2022 and talk about interest rate hikes from central banks have spurred stock market corrections that are accelerating, the researchers write. According to the Boston Consulting Group, the United States leads the pack with around 7,085,000 households being millionaires in 2017. Japan has more millionaires per capita than any other country in the world. The combination of higher asset ownership and that ability to lure the top entrepreneurial talent looks set to reinforce the status quo of the countries with the most millionaires. What is the most important aspect of retirement planning? Instant city The city has always been unique. by state U.S. 2020, U.S. states with highest ratio of millionaire households per capita 2020, U.S. metropolitan areas with the highest share of millionaire households 2020, Richest self-made women in the United States 2022, based on net worth, Distribution of UHNW individuals by gender U.S. 2019, Share of U.S. families who are millionaires 2016, by ethnicity, U.S. Distribution of billionaires 2022, by gender, States with the most billionaires in the U.S. 2022, Combined value of billionaire wealth in the United States 2020-2022, Opinion of U.S. adults on whether billionaires are a good or bad thing 2021, by age, Opinion of U.S. adults on whether billionaires should pay a wealth tax by party 2020, Ultra high net worth individuals 2021, by country, Share of the world's billionaires by region 2021, Global fastest growing markets for centi-millionaires 2022-2032, Cities with the highest number of UHNW individuals worldwide 2020, Youngest billionaires globally 2022, by net worth, Value added to the wealth of the world's leading billionaires during pandemic 2021, Leading countries with the most millionaire households 2013, U.S. states with lowest ratio of millionaire households per capita 2019, Average AGI of the 400 highest earning Americans 2000-2009, by source of income, Countries with the most millionaires 2018-2019, Global per capita net financial worth in 2007, by wealth category, Italy: number of super-rich individuals 2016, Average AGI of very high-income taxpayers in the U.S. 2000-2009, by source of income, Number of millionaires Australia 2015-2025, Most popular wearable devices among ultra high net worth households in India 2016, Number of millionaires in Poland 2008-2019, Share of inflows of HNWIs Australia 2016 by city, Ultra high net worth households in India 2010-2016, Number of millionaires in China by geographic region 2015, Number of centa-millionaires in Taiwan 2006-2026, Number of centa-millionaires Singapore 2006-2026, Number of centa-millionaires Pakistan 2006-2026, Liabilities & investment distribution in Russian private banks 2017-2019, Investments of high-net-worth individuals, Find your information in our database containing over 20,000 reports. Germany 1,199,000 The eurozone's largest economy also has the most millionaires in Europe. In 2014 it was the world's biggest capital exporter, with a trade surplus of $285 billion. as well as other partner offers and accept our, mass migration of its moneyed classes in the past several years. Monaco is the playground of the super-rich due to its tax haven status and small and exclusive population that live in enviable climates and a seriously high standard of living. In the first group, wealth is distributed more evenly, with the disparity between the lowest-paid and highest-paid being $300. Our flagship service for entrepreneurs and investors, Use our decades of experience to invest in foreign real estate, Claim a second passport based on familial connections, Click here to see all our products and services, Discover the worlds best passports to have in an ever-changing world, Discover the worlds best beaches on the basis of available services, Explore the citizenship options using our interactive citizenship map, Click here to see all of our research and interactive tools. This is mainly becausethe geographically small country has a relatively open economy with crude oil reserves of about 102 billion barrels, according to Forbes. Connecticut. During the second world war, Los Alamos was. Thats up from 724 billionaires a year ago. Kiplinger. This is a list of U.S. states and federal district by the number of billionaires as of 15 Sep 2020; the total of 642 billionaires includes 19 people whose state of residence is unknown at 15 Sep 2020, most of whom hold dual U.S. citizenship. Credit Suisse. 9.44 %. Singapore is one of the wealthiest countries with aper capita GDP higher than that of most developed countries. per capita GDP at$54,800 (34,988). 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Access your favorite topics in a personalized feed while you're on the go. I write about wealth, the wealthy and investment. There are a record 735 billionaires in the U.S., which remains the leading country for billionaires. statistic alerts) please log in with your personal account. Daniel and Richard Tsai are the richest men in the country, with a net worth of $10 billion (6.4 billion), after assuming leadership of financial services giant Fubon Financial. Monaco is home to 12,261 millionaires in less than one square mile. All rights reserved. San Francisco had the. According to estimates, in the middle of 2021 there were 56million people worldwide whose assets exceeded one million dollars, of whom nearly 40% lived in the United States. Statista. But one country stands out on the list: Sweden (No. The Golden State boasts the largest economy in the U.S., with a gross state product of about $3 trillion. It isnt exactly cheap living here, in large part thanks to an astronomical real estate boom, but the price of low taxation is rarely insignificant. New York has the most millionaires of any world city, but lost 12% of them in the first half of 2022. You only have access to basic statistics. Learn how our legal, holistic approach can help you. [1][dubious discuss], * indicates links to articles on the economy of the country or territory. Their census has calculated the top 10 countries with the most billionaires per capita, which are as follows: 10. You can find more videos, talks, and other content related to Finance & Global Citizen on our YouTube channel. Due to high exposure to equity, HNWI wealth in North America is expected to be most impacted followed by Europe, which also copes with the ongoing geopolitical crises, the researchers write. The number of U.S. millionaires grew from 6.6 million in 2020 to 7.5 million in 2021, reflecting a 13.5% increase, according to Capgemini's World Wealth Report 2022. Capgemini estimates that as of the end of April, global wealth among HNW individuals had already declined about 4% from 2021 levels. Visualizing the Flow of Energy-Related CO2 Emissions in the U.S. Ratio of millionaire households per capita. Total population:2.16 million, according to Department of Paris (last reported in 2019). per capita GDP higher than that of most developed countries. If you said finances, youre probably right. American states with highest ratio of millionaire households per capita in 2020. Please do not hesitate to contact me. Countries With The Most Millionaires. Total population: Approximately 200,000, according to United Nations (last reported in 2017). Total population:5.6 million, according to World Bank. The top five industries for producing millionaires are: Finance and Investments Technology Manufacturing Fashion and Retail Healthcare Statista. Total population: 8.4 million, according to the US Census Bureau. In, Credit Suisse. Ranked: The Largest Bond Markets in the World. Total population:23 million, according to National Bureau of Statistics of People's Republic of China (last reported in 2010). The richest man in Switzerland isErnesto Bertarelli, who inherited pharmaceutical giant Serono. Then you can access your favorite statistics via the star in the header. By clicking Sign up, you agree to receive marketing emails from Insider However, both nations also have the highest absolute household debt-to-GDP ratios in the world: in 2018, Switzerlands levels reached nearly 129%, while Australia followed behind at 120%. Not every countrys ultra-rich set is worse off this year, however. Total population:7.4 million, according to World Bank. Singapores status as a low-tax destination, home of clean air and low crime, and hub for finance in growing Southeast Asia has made it a top spot for wealthy individuals and entrepreneurs. Andrew Henderson wrote the #1 best-selling book that redefines life as a diversified, This increased the HNWI (defined as having $1 million or more of investable assets) population in the U.S. to a record 5.91 million at the start of the year pre-Covid-19, ahead of Japan with 3.39 million, according to a report this month by Capgemini. .mw-parser-output table.static-row-numbers{counter-reset:rowNumber}body.skin-minerva .mw-parser-output .static-row-numbers2.sortable{counter-reset:rowNumber -1}body.skin-minerva .mw-parser-output .static-row-numbers2.sortable.static-row-header-two{counter-reset:rowNumber -2}.mw-parser-output table.static-row-numbers tr::before{display:table-cell;padding-right:0.5em;text-align:right}.mw-parser-output table.static-row-numbers tr::before{content:""}.mw-parser-output .static-row-numbers-skip{counter-increment:rowNumber}.mw-parser-output table.static-row-numbers.sortable tbody tr:not(.static-row-header):not(.static-row-numbers-norank)::before,.mw-parser-output table.static-row-numbers:not(.sortable) tbody tr:not(:first-child):not(.static-row-header):not(.static-row-numbers-norank)::before{counter-increment:rowNumber;content:counter(rowNumber);padding-right:0.5em;padding-left:0.5em;vertical-align:inherit}.mw-parser-output .static-row-header-text thead tr::before{content:"No. A staggering 61.6% of the global HNWI population now live in these four countries, up from 61.1% at the start of 2018. 1. $60,999. The Czech Republic (or Czechia, as its known to its inhabitants) is a landlocked country situated smack bang in the middle of Europe. Based on the evidence since the financial crisis, secular global wealth growth appears to be closely aligned with global GDP growth. Based on this piece from last Summer, there were 1,479 homeless people being sheltered in Portland, over 500 who were "local homeless" (ie, not asylum seekers) ().This puts Portland at about 730 homeless persons per 100k residents, assuming the 500 number is correct and . wealth growth in North America outpaced that of Asia-Pacific for the first time since 2012. See the full list of the top 20 millionaire metropolises and megalopolises below. You need at least a Starter Account to use this feature. Flat Tax Regime in Greece: The Ultimate Guide for Foreigners, How to Get a French Residence Permit: The Ultimate Guide, How to Get Colombian Residency and Citizenship in 2023, How to Get Chile Residency: The Ultimate Guide. However, the companys findings suggest rather than merely resulting in short-term fluctuations, asset prices actually surpassed GDP growth as the key driver of global wealth from 2015. Below, weve visualized a hypothetical example of two groups of people, each earning various sums of money, to show how average (mean) and median calculations make a difference. Taiwan. It has low unemployment and a highper capita GDP at$54,800 (34,988). Japan came third with 3.03 million and 187,000 newcomers. The San Francisco area, which came in second, saw its billionaire index increase 4% over that time frame, according to data collected by the intelligence firm New World Wealth. global citizen in the 21st century and how you can join the movement. Where are Clean Energy Technologies Manufactured? bank this year as Amazon's share price surged. The median wealth for this group reaches $100, which is close to the average value. Germany . Please create an employee account to be able to mark statistics as favorites. You may even want to move to one of these places. Total global wealth grew by 9.8% and wealth per adult reached USD 87,489. Which Countries are Buying Russian Fossil Fuels? It's richest resident is Li Ka-Shing, the self-made billionaire worth $33.5 billion (22.3 billion). N ew York City has taken back its crown. In all, we found 2,668 ten-figure fortunes this yeardown from 2,755 last year. Its capital and largest city, Prague, boasts a population of 1.3 million, while other major cities include Brno, Ostrava and the beer- capital of Europe, Pilsen. Christos Lazari is worth $2.2 billion (1.4 billion) and is a self-made billionaire from London property investments. 12, 14 billionaires, population 9.56 million). But Stefan. With 4.45 million individuals, China has the second highest millionaire population and it grew by 158,000 since 2018. Learn more about how Statista can support your business. On the whole, the US had the highest representation of any country on the list, with six of its major metropolitan areas claiming spots within the top 20. Show publisher information Opinions expressed by Forbes Contributors are their own. Chart: Automakers Adoption of Fuel-Saving Technologies, Explainer: What to Know About the Ohio Train Derailment, Infographic: 11 Tech Trends to Watch in 2023. Scaling up this example to the true wealth of nations, we can see how the median wealth provides a more accurate picture of the typical adult, especially in societies that are less equal. Overview and forecasts on trending topics, Industry and market insights and forecasts, Key figures and rankings about companies and products, Consumer and brand insights and preferences in various industries, Detailed information about political and social topics, All key figures about countries and regions, Market forecast and expert KPIs for 600+ segments in 150+ countries, Insights on consumer attitudes and behavior worldwide, Business information on 70m+ public and private companies, Detailed information for 35,000+ online stores and marketplaces. However, it has also fostered 23 billionaires as of this year. Dont limit yourself; let Nomad Capitalists unbiased approach help you find the best option. The U.S. scores highly on all three and its millionaire population is continuing to expand, growing by 675,000 since 2018. (May 28, 2020). Entrepreneurialism can thrive in any economic conditions, but some studies have shown that wealth growth is most closely aligned with GDP growth. You have Microsoft founder Bill Gates who tops the overall wealthiest people in the world list with a net worth of $79.4 billion (50.9 billion) and legendary investor Warren Buffett with $67.3 billion (43.2 billion) at third. Which of these most millionaires countries would you prefer to live in? The richest man in Switzerland isErnesto Bertarelli, who inherited pharmaceutical giant Serono. Across North America, the HNW population grew by 13.2%. The island nation boasts 19 billionaires, many of whom made their fortunes through real estate and banking, such asproperty tycoons Robert and Philip Ng with a net worth of $8.6 billion (5.5 billion). Welcome to our ultimate guide for obtaining a French residence permit in 2023. Phoenix . In, Kiplinger. Getting ready for retirement? Ghanem said this is borne out by data from its World Wealth Reports of recent years. Here are the 20 countries and territories with the biggest number of the world's billionaires: 1. 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