which country has the most millionaires per capita?

The ranks of rich Americans continued to swell last yearand the economic recovery from the pandemic certainly helped the rich continue to get richer. Singapore is one of the wealthiest countries with aper capita GDP higher than that of most developed countries. As soon as this statistic is updated, you will immediately be notified via e-mail. "}.mw-parser-output .srn-white-background{background:#fff}.mw-parser-output .static-row-numbers tr:hover{background:#eaf3ff}, List of countries by number of millionaires, Regions by number and percentage of millionaires, Countries by number and percentage of millionaires, List of countries by number of billionaires, List of countries by share of income of the richest one percent, https://en.wikipedia.org/w/index.php?title=List_of_countries_by_number_of_millionaires&oldid=1148270893, This page was last edited on 5 April 2023, at 03:47. Entrepreneurialism can thrive in any economic conditions, but some studies have shown that wealth growth is most closely aligned with GDP growth. Perhaps the most famous Israeli billionaire right now isbachelor Teddy Sagi, who made his money setting up gambling software maker Playtech. The territory funds much of its limited government by property taxes, and imposes a territorial system of taxation where income earned from non-Hong Kong sources isnt taxed at all. Kiplinger. 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. In its Global Wealth Report last October, Credit Suisse analysis found this trend was particularly prevalent following the financial crisis, as the Chinese and Indian economies grew at super-normal rates. 2023 Fortune Media IP Limited. But Stefan. When it comes to wealth per capita, its clear that Australia and Switzerland lead the pack. currently looking to buy out the embattled Plus500 trading firm. 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More U.S. Tech Companies are Adopting Unequal Dual-Class Voting Structures, How Gen Z Feels About Its Financial Future, Affordability (7 metrics worth 40 points), Quality of Life (22 metrics worth 30 points), Affordability: Cost of living and taxation, Quality of Life: Quality of elder-abuse protections and crime rates, Health Care: Number of health professionals per capita and life expectancy. Email reporterAlicia Adamczyk to share your story for a future article. Christos Lazari is worth $2.2 billion (1.4 billion) and is a self-made billionaire from London property investments. Which of these most millionaires countries would you prefer to live in? 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 is only going to get stronger. See which states score the highest in terms of affordability, quality of life, and health care. Total population:9.7 million, according to Seoul Solution. Directly accessible data for 170 industries from 50 countries and over 1 million facts: Get quick analyses with our professional research service. California and New York are the top two U.S. states with the most billionaires, each claiming more than 100 billionaire residents. In North America, 32% of millionaires total investments is in stocks, compared to just 29% of the global average. Iceland used to have 6 billionaires on its shores before the financial crisis and now it is down to 1 - investorThor Bjorgolfsson. Its important to remember that this ranking is purely based on data and the methodology above, and may not be tailored to your individual preferences. 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. The size of the countries economies and the ease of doing business there will continue to draw in the top entrepreneurial talent from around the globe. During the second world war, Los Alamos was. The best of the best: the portal for top lists & rankings: Strategy and business building for the data-driven economy: Industry-specific and extensively researched technical data (partially from exclusive partnerships). 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%. However, it still has five billionaires under its belt. The United States boasts 41% of the world's millionaires, but it's clear that the fruits of labor are enjoyed by only a select groupaverage wealth ($403,974) is almost seven times higher than median wealth ($61,667). Currently, you are using a shared account. 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. Lansdown is worth $2.1 billion (1.3 billion) after co-founding British financial-services firm Hargreaves Lansdown. 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 Netherlands was the only new entrant into the top 10, swapping places from 10th to 11th with Australia. All told, there are 614 U.S. citizens on Forbes' 2020 World's. Access your favorite topics in a personalized feed while you're on the go. If you said the United States, youd be wrong. Timeline: Cannabis Legislation in the U.S. Visualizing the Relationship Between Cancer and Lifespan, Global EV Production: BYD Surpasses Tesla. With 4.45 million individuals, China has the second highest millionaire population and it grew by 158,000 since 2018. Monaco is home to 12,261 millionaires in less than one square mile. Chart. Third-placed Colorado is a mirror of Florida, offering excellent health care but a lower quality of life in comparison. The ideal entry-level account for individual users. "American states with highest ratio of millionaire households per capita in 2020." This growing inequality gap knocks the country down to 18th place for median wealth. Characteristic. The number of U.S. millionaires increased by about 13.5% last year. All rights reserved. Although Los Altos isn't the wealthiest city in the U.S., it does boast the highest median home value. American states with highest ratio of millionaire households per capita in 2020 [Graph]. For this reason, weve compared this number to median wealth for each country, providing a separate angle on which countries really have the most wealth per capita. 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. Capgeminis agreed to a point in its World Wealth Report 2020 this month. Maryland. Here are some examples of what each dimension measures: Visit the source for the full list of metrics. Are you a single adult who lives alone? [Online]. You need at least a Starter Account to use this feature. To use individual functions (e.g., mark statistics as favourites, set Germany 1,199,000 The eurozone's largest economy also has the most millionaires in Europe. Here are the 20 countries and territories with the biggest number of the world's billionaires: 1. According to estimates, in the middle of 2021 there were 56 million people worldwide whose assets exceeded one million dollars, of whom nearly 40% lived in the United States. Accessed May 02, 2023. https://www.statista.com/statistics/262687/countries-with-the-highest-rate-of-millionaires/, Credit Suisse. ", 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. Opinions expressed by Forbes Contributors are their own. 9.72 %. Well send our best articles, videos, and exclusive content right to your inbox. Which Countries are Buying Russian Fossil Fuels? Andrew Henderson wrote the #1 best-selling book that redefines life as a diversified, Thanks to said oil riches, residents pay zero income tax and very few other taxes. The firm defines millionaires as anyone with $1 million or more in investable assets. Total population:9 million, according to London Datastore. 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. If you said finances, youre probably right. The 25 countries with the highest HNWI populations. Oil wealth is evident in the country, as youd think they had invented the uber-luxury shopping mall just by walking around Doha. Terms & Conditions. 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. Its richest person is fine art dealerDavid Nahmad with a net worth of $1.85 billion (1.2 billion). Denmark. Texas had the second highest number, with 566,000, followed by New York with 465,000. Last year, Beijing was the city home to the most billionaires in the world. [1][dubious discuss], * indicates links to articles on the economy of the country or territory. While the economy here is almost entirely based on oil exports, the government is investing a tidy sum in diversifying it into other areas to continue their success. Directly accessible data for 170 industries from 50 countries and over 1 million facts: Get quick analyses with our professional research service. Based on the evidence since the financial crisis, secular global wealth growth appears to be closely aligned with global GDP growth. While China is growing more millionaires than any other country, Hong Kong has some of the most millionaires per capita 5. Businesses and wealthy individuals moving to Switzerland can negotiate their own tax rate with the canton, with some seemingly tripping over each other promote their rock-bottom rates in presentations to entrepreneurs. Learn more about how Statista can support your business. Visualizing the Flow of Energy-Related CO2 Emissions in the U.S. While Singapores tax scheme is a bit less liberal than that of Hong Kong, it is also territorial in nature. Taiwan's billionaires have a combined net worth of $117.1 billion ($75.1 billion) after a boom in its financial services sector and strong trade links with China. Switzerland was the country with the highest rate of millionaires worldwide in 2021, with 16.4percent of the adult population owning assets worth more than one million U.S. dollars. By clicking Sign Up, you also agree to marketing emails from both Insider and Morning Brew; and you accept Insiders. Connecticut was ranked second in median household income and in 2016 stood at roughly $72,889. Dont limit yourself; let Nomad Capitalists unbiased approach help you find the best option. In 2014, it was the . Total population:Approximately 3.9 million, according to the US Census Bureau. $58,905. There is no reason to expect that comparable conditions will occur in the near future.. This is mainly becausethe geographically small country has a relatively open economy with crude oil reserves of about 102 billion barrels, according to Forbes. Total population:4.4 million, according to Australian Bureau of Statistics (last reported in 2011). Hong KongMore than 200,000 residents of this Special Administrative Region of China about 8.8% to be exact are US dollar millionaires. Ratio of millionaire households per capita. Norway is rich with natural resources and has a vibrant private sector, so it's little wonder how it managed to carve out 10 billionaires. This industry has 371 billionaires that work within it, not to mention millionaires. Welcome to our ultimate guide for obtaining a French residence permit in 2023. In the second group, this gap climbs to $495, and the median wealth drops sharply to only $30. So where you can do to fit in if you have a big suitcase of money? This includesSwedish video game programmer and designerMarkus Alexej Persson who founded the Mojang video game company which made the insanely popular Minecraft video game. Chart. Globally, the population of those with more than a million in assets grew by about 8%. In, Credit Suisse. Approved Index, a UK-based business-networking group, crunched the numbers from Forbes' 2015 billionaire list using this week's data and found that the most billionaire-dense nations across the world are pretty surprising. Quintet Private Bank chief economist Daniele Antonucci said from property rights to the rule of law, capital availability, efficient public administration and taxation systems, and flexible labor markets, these countries lead the way in creating an overall environment that fosters entrepreneurship. How Does U.S. Electricity Generation Change Over One Week? Copyright 2012-2023, Nomad Capitalist Limited. You may even want to move to one of these places. One possible reason is that the pay gap ratio between Japanese CEOs and the average worker is much lower than other developed nations. While using such a metric certainly gives a quick snapshot of wealth per capita, it doesnt necessarily show the complete picture. Its free. Total population:23 million, according to National Bureau of Statistics of People's Republic of China (last reported in 2010). A recent study has ranked Fredericksburg as the top Texas city for millionaires per capita, which might not be a surprise to those familiar with the area's high-class homes and amenities. By clicking Sign up, you agree to receive marketing emails from Insider Thats up from 724 billionaires a year ago. The United Kingdom and Canada are fourth and fifth with around . New York has the most millionaires of any world city, but lost 12% of them in the first half of 2022. 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 . Bjorgolfsson is worth around $1.28 billion (817 million). S&P Index data is the property of Chicago Mercantile Exchange Inc. and its licensors. You can find more videos, talks, and other content related to Finance & Global Citizen on our YouTube channel. He founded theTrendy International Group of Guangzhou in China, which countsLVMH's financial vehicle L Capital as an investor. 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. San Francisco had the highest number of billionaires of any city on the list. You may notice that prioritizing one dimension will often come at a trade-off in others. FORTUNE may receive compensation for some links to products and services on this website. 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. As a Premium user you get access to the detailed source references and background information about this statistic. Kuwait is the fifth richest country in the world, as measured by GDP per capita, with $70,914 per person. 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. Profit from the additional features of your individual account. Visualized: The Largest Trading Partners of the U.S. Visualizing 90 Years of Stock and Bond Portfolio Performance, Visualizing the Link Between Unemployment and Recessions, Timeline: The Shocking Collapse of Silicon Valley Bank, Decoding Googles AI Ambitions (and Anxiety), Ranked: Americas 20 Biggest Tech Layoffs Since 2020, Infographic: Generative AI Explained by AI, Ranked: The Best U.S. States for Retirement, Ranked: The U.S. Banks With the Most Uninsured Deposits, De-Dollarization: Countries Seeking Alternatives to the U.S. Dollar. Show publisher information 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). highly developed and successful free-market economy and is corruption-free. to incorporate the statistic into your presentation at any time. There are 1826 billionaires in the world and there are some countries that have hundreds of them. According to the Boston Consulting Group, the United States leads the pack with around 7,085,000 households being millionaires in 2017. The richest man in Switzerland isErnesto Bertarelli, who inherited pharmaceutical giant Serono. New York has the most millionaires of any world city, but lost 12% of them in the first half of 2022. Looking at Minnesota once more, we can see that the state is also one of Americas most expensive. Total population: 8.4 million, according to the US Census Bureau. 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. Despite this difference, these countries also provide a strong safety netincluding access to healthcare and educationto more vulnerable citizens. Another country shedding billionaires: Russia. Countries by the number of billionaires by net worth (USD) in 2017 No data or 0 1-5 6-10 11-50 51-100 101-500 501+ 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. Taiwan. 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. Total global wealth grew by 9.8% and wealth per adult reached USD 87,489. The richest man in Switzerland isErnesto Bertarelli, who inherited pharmaceutical giant Serono. Total population: 5.1 million, according to the Australian Bureau of Statistics (last reported in 2021). "American States with Highest Ratio of Millionaire Households per Capita in 2020. According to this methodology, Virginia is currently the best state for retirement. CareersPartner With UsBecome A VendorBook Us For SpeakingRequest An InterviewSocial Responsibility, ExpatFinanceOffshoreGlobal CitizenEntrepreneurCryptocurrency, ABOUT CONTACT +1 (979) 966-6623. Size isnt everything either, Antonucci added, pointing out that the Netherlands completes the top 10, with Australia in 11th. QatarAmong the most liberal of the Middle East states, Qatar is home to nearly 50,000 millionaires, and a whopping 17.5% of all Qataris are US dollar millionaires. 3. Qatar also benefits from substantial oil exporting and is working to diversify its economy into other sectors like tourism and with its world-leading Qatar Airways. However, due to Iceland's small population, Iceland makes number 8 in the list. Asset price inflation and/or U.S. dollar depreciation can temporarily flatter the wealth growth figures, but cannot alter the longer-term trends. But Capgemini warns that while 2021 was a strong growth year, 2022 could see different trends. Total population:1.83 million, according to the Zurich Department of Mayor (last reported in 2011). Show sources information Not only did more Americans . However, due to Iceland's small population, Iceland makes number 8 in the list. Consumption of Fuel and Materials per Capita, The Periodic Table of Commodity Returns (2013-2022), Visualizing 25 Years of Lithium Production, by Country, Ranked: The Worlds Largest Copper Producers, Mapped: Air Pollution Levels Around the World in 2022. Not every countrys ultra-rich set is worse off this year, however. There are a record 735 billionaires in the U.S., which remains the leading country for billionaires. (May 28, 2020). 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. 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). Where are Clean Energy Technologies Manufactured? This includes, Swedish video game programmer and designer.

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