The finance and investments industry produces the highest number of millionaires. This is mainly becausethe geographically small country has a relatively open economy with crude oil reserves of about 102 billion barrels, according to Forbes. 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. A staggering 61.6% of the global HNWI population now live in these four countries, up from 61.1% at the start of 2018. At a respective 285,000 and 205,400, San . With 539 billionaires down 87 since last year with a collective nearly $2 trillion, China is still the country with the second-most billionaires. Not only did more Americans enter the elite ranks of the high-net-worth (HNW) population in 2021, but the rich got richer, with their net worths increasing by about 14%. Entrepreneurialism can thrive in any economic conditions, but some studies have shown that wealth growth is most closely aligned with GDP growth. While Singapores tax scheme is a bit less liberal than that of Hong Kong, it is also territorial in nature. Which Countries are Buying Russian Fossil Fuels? Total population:6.7 million, according to Government of Canada 2021 Census report. Ranked: The Largest Bond Markets in the World. [Online]. The U.S. houses the largest amount of billionaires in the world and continues to dominate the rankings for the world's richest people. All rights reserved. Leave a comment below. 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. Access your favorite topics in a personalized feed while you're on the go. The ranks of rich Americans continued to swell last yearand the economic recovery from the pandemic certainly helped the rich continue to get richer. Connecticut was ranked second in median household income and in 2016 stood at roughly $72,889. That pace of growth is higher than the additions in the next nine . The Netherlands was the only new entrant into the top 10, swapping places from 10th to 11th with Australia. One possible reason is that the pay gap ratio between Japanese CEOs and the average worker is much lower than other developed nations. Statista. Monaco is home to 12,261 millionaires in less than one square mile. 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. Terms & Conditions. Forbes Knight Frank's Wealth Report Hurun Global Rich List Opinions expressed by Forbes Contributors are their own. Another country shedding billionaires: Russia. Where are Clean Energy Technologies Manufactured? San Francisco had the highest number of billionaires of any city on the list. In 2014, it was the . Luxembourg. The US dominates the list with a total of 6 cities in the top 20. Kuwait is the fifth richest country in the world, as measured by GDP per capita, with $70,914 per person. 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 . Profit from the additional features of your individual account. However, thats where the similarities end. CareersPartner With UsBecome A VendorBook Us For SpeakingRequest An InterviewSocial Responsibility, ExpatFinanceOffshoreGlobal CitizenEntrepreneurCryptocurrency, ABOUT CONTACT +1 (979) 966-6623. In 2019 the median home value was more than $2,000,000now, in 2022, Zillow reports that the typical home value in the California city is a whopping $4,150,436. The U.S. scores highly on all three and its millionaire population is continuing to expand, growing by 675,000 since 2018. 3 University Park, Texas Brooks Kraft // Getty Images Ghanem said this is borne out by data from its World Wealth Reports of recent years. (May 28, 2020). 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. In, Kiplinger. Hong Kong More than 200,000 residents of this Special Administrative Region of China - about 8.8% to be exact - are US dollar millionaires. Hong Kong. See below for more comprehensive results. The richest man in Switzerland isErnesto Bertarelli, who inherited pharmaceutical giant Serono. Ratio of millionaire households per capita. Show publisher information This industry has 371 billionaires that work within it, not to mention millionaires. 4. Weve advised our clients on more than 100 citizenship options, from often-overlooked ancestry programs, to fast-tracked investment options, and even exclusive programs for HNWIs. In fact, the data shows that both nations top the lists for both mean and median wealth. he worlds billionaires hail from all over the globe, with citizens of 75 countries or territories on six continents claiming a spot on Forbes 36th annual billionaires list. Lets see how this shakes out when ranking the worlds most affluent countries. And yet Los Alamos has more millionaires per capita than almost anywhere else in the country. Total population: 19.6 million, according to National Bureau of Statistics of China (last reported in 2010). 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. 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. Shutterstock/RossHelen The number of millionaires increased by 12% between 2013 and 2018, according to the 2019 Knight Frank. According to this methodology, Virginia is currently the best state for retirement. In 2007, he sold it to Merck for $9 billion (5.7 billion). Powered and implemented by Interactive Data Managed Solutions. If youre a successful business owner or investor, you may be tired of getting hit with higher taxes and scorn from your home country. 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. Total population:815,000, according to the US Census Bureau. With 107 billionaire residents . 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. 9.72 %. 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The firm defines millionaires as anyone with $1 million or more in investable assets. 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, due to Iceland's small population, Iceland makes number 8 in the list. While using such a metric certainly gives a quick snapshot of wealth per capita, it doesnt necessarily show the complete picture. During the second world war, Los Alamos was. bank this year as Amazon's share price surged. The US dominates the list with a total of 6 cities in the top 20. Beyond its storied tradition as a banking haven and stable economy, Switzerland offers a unique taxation opportunity for those that live there. New York has the most millionaires of any world city, but lost 12% of them in the first half of 2022. $60,999. Are you interested in testing our business solutions? statistic alerts) please log in with your personal account. (September 1, 2022). However, it still has five billionaires under its belt. Total population:2.16 million, according to Department of Paris (last reported in 2019). What is the most important aspect of retirement planning? 9.44 %. Texas had the second highest number, with 566,000, followed by New York with 465,000. Size isnt everything either, Antonucci added, pointing out that the Netherlands completes the top 10, with Australia in 11th. SwitzerlandSome 9.5% of the Swiss are millionaires, placing the central European country fourth. How Much Student Debt Does Each State Hold? 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. 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. The total net worth of all millionaires stood at around $158.261trillion. Having been voted the freest economy in the world for years now, Hong Kong is far from the worst place to be a millionaire. See the full list of the top 20 millionaire metropolises and megalopolises below. 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). Then you can access your favorite statistics via the star in the header. 5. It has one of the most technologically advanced market economies in the world. *Hong Kong is an autonomous territory of China. Directly accessible data for 170 industries from 50 countries and over 1 million facts: Get quick analyses with our professional research service. Heres a list of countries with the highest number of US dollar millionaires per capita and it may surprise you. Please do not hesitate to contact me. As soon as this statistic is updated, you will immediately be notified via e-mail. 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. I write about wealth, the wealthy and investment. Lebanon has a free-market economy and now houses seven billionaires, including telecoms magnate and former Prime MinisterNajib Mikati. Entrepreneurialism can be found in many places, but its where its easier to do business that income and wealth creation can pick up momentum. I'm trying to figure out how we compare to other cities across the country when it comes to homeless populations per capita. 2023 Fortune Media IP Limited. May 28, 2020. Taiwan. Profit from the additional features of your individual account. 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. ", 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. There is no reason to expect that comparable conditions will occur in the near future.. Total population: 8.4 million, according to the US Census Bureau. 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. mixed system of high-tech capitalism and extensive welfare benefits. It's sole billionaire is the elusive Jacky Xu, who is originally from China. Privacy Policy and Cookie PolicyNomad Capitalist and Go Where Youre Treated Best are registered trademarks. Here is a full ranking of the top 20 countries by mean and median wealth: The United States boasts 41% of the worlds millionaires, but its 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). 2. Mapped: The State of Democracy Around the World, Mapped: The Largest 15 U.S. Cities by GDP, Visualized: The Most (and Least) Expensive Cities to Live In, Mapped: The Population of Indias States Compared with Countries, Charted: 30 Years of Central Bank Gold Demand, Visualizing U.S. Total population:791,000, according to World Population Review. In recent years (since 2015) the impact of equity markets on HNWI population growth is more important than GDP growth as economic growth stabilizes across markets, ie the stabilizing of the high growth period seen by emerging markets like China and India.. California had the most millionaires in total 885,000 but it ranked 10th in terms of per capita. Perhaps the most famous Israeli billionaire right now isbachelor Teddy Sagi, who made his money setting up gambling software maker Playtech. The millionaires in the state account for approximately 7.75% of the population. The ideal entry-level account for individual users. Instant city The city has always been unique. 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. Globally, the population of those with more than a million in assets grew by about 8%. 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%. 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. But one country stands out on the list: Sweden (No. United States Andrew Burton/Getty Images The US has 724 billionaires, led by Elon Musk, the CEO. per capita GDP higher than that of most developed countries. 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. 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. 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. Connecticut. "Countries with the highest proportion of millionaires in 2021." [1][dubious discuss], * indicates links to articles on the economy of the country or territory. Learn from our R&D playbook and meet like-minded people at our annual event. Currently, you are using a shared account. Last year, Beijing was the city home to the most billionaires in the world. Accessed May 02, 2023. https://www.statista.com/statistics/262687/countries-with-the-highest-rate-of-millionaires/, Credit Suisse. Kiplinger. All told, there are 614 U.S. citizens on Forbes' 2020 World's. Not every countrys ultra-rich set is worse off this year, however. Hong Kong is seen as the financial gateway into mainland China and has a free market economy. Available: https://www.statista.com/statistics/262687/countries-with-the-highest-rate-of-millionaires/, Countries with the highest proportion of millionaires in 2021, 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.
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