which country has the most millionaires per capita?

Eight of the 10 richest people in the world are American, led by the worlds number one richest, Elon Musk, whos worth an estimated $219 billion. 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. 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. A paid subscription is required for full access. Thats up from 724 billionaires a year ago. 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). 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. "Countries with the highest proportion of millionaires in 2021." Capgemini estimates that as of the end of April, global wealth among HNW individuals had already declined about 4% from 2021 levels. San Francisco had the highest number of billionaires of any city on the list. 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. In fact, the data shows that both nations top the lists for both mean and median wealth. Jeff Bezos has been smiling all the way to the. While Singapores tax scheme is a bit less liberal than that of Hong Kong, it is also territorial in nature. But one country stands out on the list: Sweden (No. This two-island country in the West Indies wereamong the first islands in the Caribbean to be settled by Europeans. The richest man in Switzerland isErnesto Bertarelli, who inherited pharmaceutical giant Serono. Last year, Beijing was the city home to the most billionaires in the world. Total population:Approximately 3.9 million, according to the US Census Bureau. But have you ever thought about where the best place is to retire? Hong Kong. Asset price inflation and/or U.S. dollar depreciation can temporarily flatter the wealth growth figures, but cannot alter the longer-term trends. mixed system of high-tech capitalism and extensive welfare benefits. Total population: Approximately 200,000, according to United Nations (last reported in 2017). Looking to retire outside of the U.S.? This creates new wealth, adding to the ranks of the existing asset-rich HNWIs there. Visualizing the Flow of Energy-Related CO2 Emissions in the U.S. The ideal entry-level account for individual users. However, due to Iceland's small population, Iceland makes number 8 in the list. In 2014 it was the world's biggest capital exporter, with a trade surplus of $285 billion. 3. Learn more about how Statista can support your business. In this article on Chile residency we discuss the benefits of Chilean residency and the process of Nomad Capitalist has helped 1,000+ high-net-worth clients grow and protect their wealth safe from high taxes and greedy governments. The Golden State boasts the largest economy in the U.S., with a gross state product of about $3 trillion. Countries With The Most Millionaires. See the full list of the top 20 millionaire metropolises and megalopolises below. Total population:815,000, according to the US Census Bureau. 5. [Online]. Tokyo came in second place with 290,300 people whose investments and assets top $1 million while London fell from first to fourth place with 258,000. Total population:37.3 million, according to World Population Review. Globally, the population of those with more than a million in assets grew by about 8%. 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. If youre a successful business owner or investor, you may be tired of getting hit with higher taxes and scorn from your home country. Use Ask Statista Research Service, Most affluent women worldwide 2022, by net worth, U.S. wealth distribution 1990-2022, by income percentile, To download this statistic in XLS format you need a Statista Account, To download this statistic in PNG format you need a Statista Account, To download this statistic in PDF format you need a Statista Account. 12, 14 billionaires, population 9.56 million). WalletHub ranked each state using 47 metrics across three dimensions. 2 . If you are an admin, please authenticate by logging in again. FORTUNE may receive compensation for some links to products and services on this website. 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. 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. The continent's largest economy also has the most numbers of millionaires in Europe. Ranked: The Worlds 25 Richest Countries by GDP per Capita, Ranked: The 25 Poorest Countries by GDP per Capita, The Growing Auto Loan Problem Facing Young Americans, Ranked: The Worlds Wealthiest Cities, by Number of Millionaires. This statistic is not included in your account. 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. 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. With reducing income inequality as a priority for many countries around the world, how might this list change in coming years? 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. The median wealth for this group reaches $100, which is close to the average value. Connecticut The 5,567 square mile state of Connecticut ranked third in the US in the number of millionaires per capita. Christos Lazari is worth $2.2 billion (1.4 billion) and is a self-made billionaire from London property investments. global citizen in the 21st century and how you can join the movement. A show of the countrys growing economy and influence, that percentage has been increasing. 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. You may opt-out by, Counter-clockwise from top-left: India, Germany, U.S., China, Counter-clockwise from top-left: Ashwin Nagpal/Getty Images, George Pachantouris/Getty Images, Sylvain Sonnet/Getty Images, Alan Schein/Getty Images, Karsten May/Getty Images, Xiaoyang Liu/Getty Images, Waitforlight/Getty Images, Forbes' 36th Annual World's Billionaires List: Facts And Figures 2022, Where The Richest Live: The Cities With The Most Billionaires 2022, Billionaires 2022: These 4 Countries Got Their First Billionaire This Year, Forbes 36th Annual Worlds Billionaires List: Facts And Figures 2022, Trumps Net Worth Has Jumped An Estimated $600 Million Since He Left Office, How MacKenzie Scott Has Given Away BillionsAnd Is Still One Of The Worlds Richest Women, The Wealthiest Person In Crypto Climbs Into Worlds 20 Richest. Altogether, Americas billionaires are worth $4.7 trillion, up from $4.4 trillion on last years list. Use of this site constitutes acceptance of our Terms of Use and Privacy Policy | CA Notice at Collection and Privacy Notice| Do Not Sell/Share My Personal Information| Ad Choices I write about wealth, the wealthy and investment. The collective wealth of the countrys billionaires has fallen from $584 billion last year to $320 billion this year. That includes everything from cash, checking, and savings accounts to investments in stocks, government bonds, and mutual funds. 9.72 %. Cyprus's economy grew at an average rate of about 4% during the first five years of European Union membership but later tanked following the eurozone sovereign debt crisis of 2010. 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). Total population:6.7 million, according to Government of Canada 2021 Census report. You need at least a Starter Account to use this feature. For example, if you believe that health services will be very important during retirement, you may rank Minnesota (#1 in terms of health care) much higher than eighth place. Although Los Altos isn't the wealthiest city in the U.S., it does boast the highest median home value. 2023 Fortune Media IP Limited. You may even want to move to one of these places. May 28, 2020. In fact, the United States doesnt appear on the list of most millionaires per capita, nor is it the richest country in the world. Japan has more millionaires per capita than any other country in the world. Learn more about how Statista can support your business. 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. Norway Total number of billionaires: 15 Billionaires per million people: 2.9. 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. Tough Times For Brazil And India And Its Millionaires highly developed and successful free-market economy and is corruption-free. Our animated chart this week uses data from the ninth Credit Suisse Global Wealth report, which ranks countries by average wealth, calculated as gross assets per adult citizen. 3 University Park, Texas Brooks Kraft // Getty Images The strength of U.S. equity markets, with the S&P 500 rising 28.9%, was the main reason wealth growth in North America outpaced that of Asia-Pacific for the first time since 2012 last year, he said. American states with highest ratio of millionaire households per capita in 2020. The US dominates the list with a total of 6 cities in the top 20. (September 1, 2022). Sweden is famed for its high standards of living as well as itsmixed system of high-tech capitalism and extensive welfare benefits. 2. There are 1826 billionaires in the world and there are some countries that have hundreds of them. I'm trying to figure out how we compare to other cities across the country when it comes to homeless populations per capita. In 2014, it was the . ", 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. 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. Itis the world's third-largest natural gas exporter and seventh largest oil exporter. Then you can access your favorite statistics via the star in the header. 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. Offers may be subject to change without notice. Mapped: Asias Biggest Sources of Electricity by Country. The final scores (visualized as the bars in the infographic above) represent each states weighted average across all metrics. In all, we found 2,668 ten-figure fortunes this yeardown from 2,755 last year. According to a new report published today by Henley & Partners, a firm that tracks wealthy individuals across the globe, New York tops the list of 20 cities with the most millionaires in the world. Some of the biggest losers include oil magnate Vagit Alekperov and Alexey Mordashov, previously the richest person in Russia. 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. To use individual functions (e.g., mark statistics as favourites, set The Godfather of A.I. just quit Google and says he regrets his lifes work because it can be hard to stop bad actors Fauci says the general public somehow didnt get his messaging that the vulnerable are really, really heavily An upstate New York school may keep its Native American logo and Warriors nicknamebecause the local Seneca tribe is CA Notice at Collection and Privacy Notice, Do Not Sell/Share My Personal Information. 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. With 107 billionaire residents . FORTUNE is a trademark of Fortune Media IP Limited, registered in the U.S. and other countries. The Future of 5G: Comparing 3 Generations of Wireless Technology. The richest man in Switzerland isErnesto Bertarelli, who inherited pharmaceutical giant Serono. Are you interested in testing our business solutions? Total population: 5.1 million, according to the Australian Bureau of Statistics (last reported in 2021). Chart. 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. However, it has also fostered 23 billionaires as of this year. Lets see how this shakes out when ranking the worlds most affluent countries. PlayTech is currently looking to buy out the embattled Plus500 trading firm. It has one of the most technologically advanced market economies in the world. Fortune wants to hear how inflation is affecting your budget. Total population: 2.3 million, according to the United States Census Bureau. 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. How Does U.S. Electricity Generation Change Over One Week? ", Kiplinger, American states with highest ratio of millionaire households per capita in 2020 Statista, https://www.statista.com/statistics/294941/largest-ratio-millionaire-households-per-capita-us/ (last visited May 02, 2023), American states with highest ratio of millionaire households per capita in 2020 [Graph], Kiplinger, May 28, 2020. 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%. There are 34 fewer Russian billionaires this year, as share prices cratered, the ruble plummeted in value and sanctions hit Russian oligarchs assets. Total population:9.7 million, according to Seoul Solution. Looking at Minnesota once more, we can see that the state is also one of Americas most expensive. Across the world, Abu Dhabi and Dubai appear to have some of the fastest growing populations of millionaires, according to the report. Thor Bjorgolfsson. Forbes Knight Frank's Wealth Report Hurun Global Rich List Terms & Conditions. Are you a single adult who lives alone? 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. How Much Student Debt Does Each State Hold? Available: https://www.statista.com/statistics/294941/largest-ratio-millionaire-households-per-capita-us/, American states with highest ratio of millionaire households per capita in 2020, Immediate access to statistics, forecasts & reports, Number of people with wealth over one million U.S dollars 2021, by country, Countries with the highest millionaire rate in 2021, Ultra high net worth individuals: population of global 1 percent 2021, by country, Number of millionaire households U.S. 2006-2020, U.S. high net worth individuals 2008-2021, North America wealth of high net worth individuals 2008-2021, Asset allocation of high net worth individuals in North America 2021, U.S. distribution of assets by category and wealth percentile Q1 2021, Share of households who are millionaires by state U.S. 2020, Number of households who are millionaires. 1. This gives it a slight advantage over second place Florida, which excels in quality of life and affordability, but falls further behind in terms of health care. Some argue, for example, that calculating the mean doesnt factor in the gap between the richest and poorest in a populationalso known as wealth inequality. Total population: 19.6 million, according to National Bureau of Statistics of China (last reported in 2010). Size isnt everything either, Antonucci added, pointing out that the Netherlands completes the top 10, with Australia in 11th. The largest economic sectors in California are agriculture, media, tourism, and technology. And with roughly 40 million residents, it's also the most populous state in the country. 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. bank this year as Amazon's share price surged. Confiscatory tax rates, along with double taxation, are prohibited by the constitution. With 4.45 million individuals, China has the second highest millionaire population and it grew by 158,000 since 2018. Share to Linkedin. wealth growth in North America outpaced that of Asia-Pacific for the first time since 2012. The millionaires in the state account for approximately 7.75% of the population. Use Ask Statista Research Service, Most affluent women worldwide 2022, by net worth, U.S. wealth distribution 1990-2022, by income percentile, 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. Heres a list of countries with the highest number of US dollar millionaires per capita and it may surprise you. 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. Total population:9 million, according to London Datastore. Total population:1.83 million, according to the Zurich Department of Mayor (last reported in 2011). However, thats where the similarities end. Which Countries are Buying Russian Fossil Fuels? 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 U.S. scores highly on all three and its millionaire population is continuing to expand, growing by 675,000 since 2018. 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, U.S. states with lowest ratio of millionaire households per capita 2019, Number of centa-millionaires Pakistan 2006-2026, Number of millionaires Australia 2015-2025, Number of centa-millionaires Singapore 2006-2026, Share of millionaire households in selected European countries in 2014, Share of inflows of HNWIs Australia 2016 by city, Number of multi-millionaires Vietnam 2006-2026, Number of millionaires in Taiwan 2017-2021, Highest net inflows of HNWIs Australia 2016 by city, Ultra high net worth households in India 2010-2016, Number of centa-millionaires Malaysia 2006-2026, Number of multi-millionaires Thailand 2018-2024, Number of millionaires Sri Lanka 2006-2026, Number of centa-millionaires Thailand 2006-2026, Number of centa-millionaires Sri Lanka 2006-2026, Investments of high-net-worth individuals, Find your information in our database containing over 20,000 reports. Andrew Henderson wrote the #1 best-selling book that redefines life as a diversified, New York has the most millionaires of any world city, but lost 12% of them in the first half of 2022. The top five industries for producing millionaires are: Finance and Investments Technology Manufacturing Fashion and Retail Healthcare Capgeminis agreed to a point in its World Wealth Report 2020 this month. SwitzerlandSome 9.5% of the Swiss are millionaires, placing the central European country fourth. 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. 9.44 %. New Jersey. 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.

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