which country has the most millionaires per capita?

There is no reason to expect that comparable conditions will occur in the near future.. "American States with Highest Ratio of Millionaire Households per Capita in 2020. Jeff Bezos has been smiling all the way to the. The top five industries for producing millionaires are: Finance and Investments Technology Manufacturing Fashion and Retail Healthcare 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. Opinions expressed by Forbes Contributors are their own. "Countries with the highest proportion of millionaires in 2021." However, thats where the similarities end. Although Los Altos isn't the wealthiest city in the U.S., it does boast the highest median home value. 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. All rights reserved. Then you can access your favorite statistics via the star in the header. 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. 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 Capgeminis World Wealth Report 2022. [1][dubious discuss], * indicates links to articles on the economy of the country or territory. $58,905. 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. Total population: Approximately 200,000, according to United Nations (last reported in 2017). Ratio of millionaire households per capita. 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. Not only did more Americans . Bjorgolfsson is worth around $1.28 billion (817 million). In North America, 32% of millionaires total investments is in stocks, compared to just 29% of the global average. China has had on-and-off Covid-19 outbreaks disrupting the supply chain and manufacturing, while Chinese heavyweight listings crashed amid concerns about regulation of tech companies and Beijings ties with Russia. The collective wealth of the countrys billionaires has fallen from $584 billion last year to $320 billion this year. Maryland. Taiwan jumped into the top ten this year, thanks to four new billionaires. 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. Looking at Minnesota once more, we can see that the state is also one of Americas most expensive. Thanks to said oil riches, residents pay zero income tax and very few other taxes. per capita GDP higher than that of most developed countries. Germany and China in third and fourth saw their HNWI numbers rise by 9% and 11% to 1.47 million and 1.32 million, respectively. 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.. According to the Boston Consulting Group, the United States leads the pack with around 7,085,000 households being millionaires in 2017. Founder of Nomad Capitalist and the worlds most sought-after expert on global citizenship. 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. 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. Bjorgolfsson is worth around $1.28 billion (817 million). Welcome to our ultimate guide for obtaining a French residence permit in 2023. Their census has calculated the top 10 countries with the most billionaires per capita, which are as follows: 10. 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. 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. California had the most millionaires in total 885,000 but it ranked 10th in terms of per capita. Germany 1,199,000 The eurozone's largest economy also has the most millionaires in Europe. Are you interested in testing our business solutions? 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. 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. 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. 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. $60,999. Total population: 8.4 million, according to the US Census Bureau. New Jersey. United States Andrew Burton/Getty Images The US has 724 billionaires, led by Elon Musk, the CEO. Learn from our R&D playbook and meet like-minded people at our annual event. 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. You can find more videos, talks, and other content related to Finance & Global Citizen on our YouTube channel. 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. per capita GDP at$54,800 (34,988). FORTUNE is a trademark of Fortune Media IP Limited, registered in the U.S. and other countries. This creates new wealth, adding to the ranks of the existing asset-rich HNWIs there. September 1, 2022. 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. Hong KongMore than 200,000 residents of this Special Administrative Region of China about 8.8% to be exact are US dollar millionaires. Chart: Automakers Adoption of Fuel-Saving Technologies, Explainer: What to Know About the Ohio Train Derailment, Infographic: 11 Tech Trends to Watch in 2023. 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). And with roughly 40 million residents, it's also the most populous state in the country. 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. Concentration of millionaires: 7.2% Median income for all households: $63,032 (U.S.: $61,937) Median home value: $231,100 (U.S.: $229,700) The Hudson, New York, micro area has emerged as an. 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. Please create an employee account to be able to mark statistics as favorites. 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. Credit Suisse. Total population:1.83 million, according to the Zurich Department of Mayor (last reported in 2011). Kuwait is the fifth richest country in the world, as measured by GDP per capita, with $70,914 per person. But one country stands out on the list: Sweden (No. In, Kiplinger. Overall, North America had the highest increase in terms of both HNW population and wealth growthhelping the market clinch the top slot for the greatest concentration of wealthy individuals. This growing inequality gap knocks the country down to 18th place for median wealth. The 25 countries with the highest HNWI populations. Here are the 20 countries and territories with the biggest number of the world's billionaires: 1. Learn more about how Statista can support your business. Learn how our legal, holistic approach can help you. With 107 billionaire residents . The U.S. scores highly on all three and its millionaire population is continuing to expand, growing by 675,000 since 2018. Total population:815,000, according to the US Census Bureau. Heres a list of countries with the highest number of US dollar millionaires per capita and it may surprise you. 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. 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. Denmark. 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. To use individual functions (e.g., mark statistics as favourites, set Accessed May 02, 2023. https://www.statista.com/statistics/262687/countries-with-the-highest-rate-of-millionaires/, Credit Suisse. The US dominates the list with a total of 6 cities in the top 20. 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. 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. 12, 14 billionaires, population 9.56 million). In the only other moves, Kuwait leapfrogged Saudi Arabia from 16th to 17th, with Sweden the biggest riser, jumping two places to 23rd, ahead of Thailand, up two to 24th and Indonesia, down two to 25th. Three of them are billionaires. 2 . 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. 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. The continent's largest economy also has the most numbers of millionaires in Europe. 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). You need at least a Starter Account to use this feature. At a respective 285,000 and 205,400, San . Timeline: Cannabis Legislation in the U.S. Visualizing the Relationship Between Cancer and Lifespan, Global EV Production: BYD Surpasses Tesla. Profit from the additional features of your individual account. No single Swede comes close to the epic wealth of a Bill Gates or a Warren Buffett. Top editors give you the stories you want delivered right to your inbox each weekday. Elias Ghanem, global head of market intelligence at Capgemini Financial Services, said: Our conclusion is that GDP and economic performance, as well as its impact on equity markets, played a key role in determining HNWI population growth over initial years of the last decade post the financial crisis (2009 2014). When it comes to wealth per capita, its clear that Australia and Switzerland lead the pack. Total population: 2.3 million, according to the United States Census Bureau. New York has the most millionaires of any world city, but lost 12% of them in the first half of 2022. It's richest resident is Li Ka-Shing, the self-made billionaire worth $33.5 billion (22.3 billion). Some of Chinas biggest losers include former chairman of Pinduoduo Colin Huang, chair of internet giant Tencent Holdings Ma Huateng and Jack Ma of Alibaba. Countries With The Most Millionaires. Total population:7.4 million, according to World Bank. Looking to retire outside of the U.S.? American states with highest ratio of millionaire households per capita in 2020. highly developed and successful free-market economy and is corruption-free. However, it has also fostered 23 billionaires as of this year. 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. Where are Clean Energy Technologies Manufactured? 1. Setting aside exchange rate movements, aggregate global wealth grew by 12.7% in 2021, which is the fastest an . Luxembourg. The biggest reason for the drop? 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. However, due to Iceland's small population, Iceland makes number 8 in the list. This is mainly becausethe geographically small country has a relatively open economy with crude oil reserves of about 102 billion barrels, according to Forbes. However, due to Iceland's small population, Iceland makes number 8 in the list. #20. 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%. Instant city The city has always been unique. ", 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. Itis the world's third-largest natural gas exporter and seventh largest oil exporter. Total population:4.4 million, according to Australian Bureau of Statistics (last reported in 2011). Privacy Policy and Cookie PolicyNomad Capitalist and Go Where Youre Treated Best are registered trademarks. The Golden State boasts the largest economy in the U.S., with a gross state product of about $3 trillion. While using such a metric certainly gives a quick snapshot of wealth per capita, it doesnt necessarily show the complete picture. If youre a successful business owner or investor, you may be tired of getting hit with higher taxes and scorn from your home country. Confiscatory tax rates, along with double taxation, are prohibited by the constitution. Entrepreneurialism can thrive in any economic conditions, but some studies have shown that wealth growth is most closely aligned with GDP growth. New York has the most millionaires of any world city, but lost 12% of them in the first half of 2022. Total population: 19.6 million, according to National Bureau of Statistics of China (last reported in 2010). States by number and share of households with more than $1 million in investable assets (2019) Rank State Number of millionaire households Share of millionaire households This statistic is not included in your account. 2. The total net worth of all millionaires stood at around $158.261 trillion. The Swiss franc currency has been on quite a roll in recent years, too, remaining a top safe haven currency in Europe. Connecticut. American states with highest ratio of millionaire households per capita in 2020 [Graph]. Are you a single adult who lives alone? Not every countrys ultra-rich set is worse off this year, however. In, Credit Suisse. wealth growth in North America outpaced that of Asia-Pacific for the first time since 2012. 3. Sweden is famed for its high standards of living as well as itsmixed system of high-tech capitalism and extensive welfare benefits. Some of the biggest losers include oil magnate Vagit Alekperov and Alexey Mordashov, previously the richest person in Russia. It has one of the most technologically advanced market economies 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. Ghanem said this is borne out by data from its World Wealth Reports of recent years. statistic alerts) please log in with your personal account. 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. That could have big implications, especially since much of the growth seen last year was based on stock market performanceand many of these HNW individuals have major portions of their wealth tied up in stocks. 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. Kiplinger. Last year, Beijing was the city home to the most billionaires in the world. A staggering 61.6% of the global HNWI population now live in these four countries, up from 61.1% at the start of 2018. as well as other partner offers and accept our, mass migration of its moneyed classes in the past several years. 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. Chart. 3. 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. During the second world war, Los Alamos was. 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. [Online]. Capgeminis agreed to a point in its World Wealth Report 2020 this month. The growth was mostly spurred by investments in the stock market, with a particular focus on the technology sector. By clicking Sign up, you agree to receive marketing emails from Insider mixed system of high-tech capitalism and extensive welfare benefits. In all, we found 2,668 ten-figure fortunes this yeardown from 2,755 last year. The millionaires in the state account for approximately 7.75% of the population. Its free. Across the world, Abu Dhabi and Dubai appear to have some of the fastest growing populations of millionaires, according to the report. How Does U.S. Electricity Generation Change Over One Week? 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. Total population:791,000, according to World Population Review. So where you can do to fit in if you have a big suitcase of money? With 4.45 million individuals, China has the second highest millionaire population and it grew by 158,000 since 2018. Asset price inflation and/or U.S. dollar depreciation can temporarily flatter the wealth growth figures, but cannot alter the longer-term trends. To use individual functions (e.g., mark statistics as favourites, set Entrepreneurialism can be found in many places, but its where its easier to do business that income and wealth creation can pick up momentum. Statista. All Rights Reserved. Switzerland is the perfect breeding ground for billionaires with its highly skilled labour force and low corporate tax rates. KuwaitThanks to its significant oil reserves, 11.8% of Kuwaitis are US-dollar millionaires. Dont limit yourself; let Nomad Capitalists unbiased approach help you find the best option. Connecticut The 5,567 square mile state of Connecticut ranked third in the US in the number of millionaires per capita. There are 1826 billionaires in the world and there are some countries that have hundreds of them. Forbes Knight Frank's Wealth Report Hurun Global Rich List How Much Student Debt Does Each State Hold? But Stefan. May 28, 2020. Thats up from 724 billionaires a year ago. WalletHub ranked each state using 47 metrics across three dimensions. There are 34 fewer Russian billionaires this year, as share prices cratered, the ruble plummeted in value and sanctions hit Russian oligarchs assets. "Countries with The Highest Proportion of Millionaires in 2021. The firm defines millionaires as anyone with $1 million or more in investable assets. While Russia which has witnessed a mass migration of its moneyed classes in the past several years had the largest outflow of millionaires of any country in the world. 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. The ranks of rich Americans continued to swell last yearand the economic recovery from the pandemic certainly helped the rich continue to get richer. 9.44 %. Chart. 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. 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 same factor will likely keep North America ahead this year, as U.S. equities have rebounded strongly from the March lows when coronavirus ravaged stock markets. The number of U.S. millionaires increased by about 13.5% last year. Currently, you are using a shared account. Having been voted the freest economy in the world for years now, Hong Kong is far from the worst place to be a millionaire. This two-island country in the West Indies wereamong the first islands in the Caribbean to be settled by Europeans. It has ahighly developed and successful free-market economy and is corruption-free. Offers may be subject to change without notice. The U.S. houses the largest amount of billionaires in the world and continues to dominate the rankings for the world's richest people. (September 1, 2022). Total population:23 million, according to National Bureau of Statistics of People's Republic of China (last reported in 2010). "}.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.

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