Founder of Nomad Capitalist and the worlds most sought-after expert on global citizenship. FORTUNE may receive compensation for some links to products and services on this website. The top five industries for producing millionaires are: Finance and Investments Technology Manufacturing Fashion and Retail Healthcare Then you can access your favorite statistics via the star in the header. 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. "American states with highest ratio of millionaire households per capita in 2020." Welcome to our ultimate guide for obtaining a French residence permit in 2023. ", 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. PlayTech is currently looking to buy out the embattled Plus500 trading firm. The total net worth of all millionaires stood at around $158.261 trillion. 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. So where you can do to fit in if you have a big suitcase of money? You need at least a Starter Account to use this feature. The number of U.S. millionaires increased by about 13.5% last year. Entrepreneurialism can thrive in any economic conditions, but some studies have shown that wealth growth is most closely aligned with GDP growth. Countries with the highest proportion of millionaires in 2021 [Graph]. In, Credit Suisse. 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. Between the skyscrapers and bright lights, it seems like millionaires just can't pull themselves away from allure of the concrete jungle. What is the most important aspect of retirement planning? 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. 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 $600 Million Since He Left Office, How MacKenzie Scott Has Given Away BillionsAnd Is Still One Of The Worlds Richest Women, The Wealthiest Person In Crypto Climbs Into Worlds 20 Richest. To help break it down, weve visualized data from personal finance platform, WalletHub, which ranked the best U.S. states for retirement as of 2023. Mapped: The State of Democracy Around the World, Mapped: The Largest 15 U.S. Cities by GDP, Visualized: The Most (and Least) Expensive Cities to Live In, Mapped: The Population of Indias States Compared with Countries, Charted: 30 Years of Central Bank Gold Demand, Visualizing U.S. This creates new wealth, adding to the ranks of the existing asset-rich HNWIs there. Please create an employee account to be able to mark statistics as favorites. [1][dubious discuss], * indicates links to articles on the economy of the country or territory. Footnote: All data estimates are using mid-2018 values, and reflected in US$. 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. The ideal entry-level account for individual users. Phoenix . per capita GDP higher than that of most developed countries. You may notice that prioritizing one dimension will often come at a trade-off in others. May 28, 2020. Total population:9 million, according to London Datastore. New York has the most millionaires of any world city, but lost 12% of them in the first half of 2022. 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 There is no reason to expect that comparable conditions will occur in the near future.. 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. It's surprising to see Guernsey in the third spot but since it has a tiny population and its sole billionaire Stephen Lansdownis enough to make the place one of the most densely populated nations for the ultra rich. $212,375. The Swiss franc currency has been on quite a roll in recent years, too, remaining a top safe haven currency in Europe. Thats up from 724 billionaires a year ago. 9.72 %. 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. Total population: 1.3 million, according to the US Census Bureau. 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. Not every countrys ultra-rich set is worse off this year, however. What are the taxes in Italy? Total population:23 million, according to National Bureau of Statistics of People's Republic of China (last reported in 2010). Leave a comment below. 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. #20. The 25 countries with the highest HNWI populations. 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. Connecticut. With 107 billionaire residents . This two-island country in the West Indies wereamong the first islands in the Caribbean to be settled by Europeans. Total population:Approximately 3.9 million, according to the US Census Bureau. Connecticut The 5,567 square mile state of Connecticut ranked third in the US in the number of millionaires per capita. California had the most millionaires in total 885,000 but it ranked 10th in terms of per capita. Total population:1.83 million, according to the Zurich Department of Mayor (last reported in 2011). Not all developed . The Golden State boasts the largest economy in the U.S., with a gross state product of about $3 trillion. 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. In the first group, wealth is distributed more evenly, with the disparity between the lowest-paid and highest-paid being $300. See the full list of the top 20 millionaire metropolises and megalopolises below. The median wealth for this group reaches $100, which is close to the average value. "Countries with the highest proportion of millionaires in 2021." Business Solutions including all features. You may even want to move to one of these places. as well as other partner offers and accept our, mass migration of its moneyed classes in the past several years. Please do not hesitate to contact me. Singapore is one of the wealthiest countries with aper capita GDP higher than that of most developed countries. 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. S&P Index data is the property of Chicago Mercantile Exchange Inc. and its licensors. Size isnt everything either, Antonucci added, pointing out that the Netherlands completes the top 10, with Australia in 11th. Opinions expressed by Forbes Contributors are their own. Total population:2.7 million, according to the US Census Bureau. 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. In 2007, he sold it to Merck for $9 billion (5.7 billion). United States Andrew Burton/Getty Images The US has 724 billionaires, led by Elon Musk, the CEO. However, due to Iceland's small population, Iceland makes number 8 in the list. The best of the best: the portal for top lists & rankings: Strategy and business building for the data-driven economy: Show sources information 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. Not only did more Americans . See which states score the highest in terms of affordability, quality of life, and health care. Japan came third with 3.03 million and 187,000 newcomers. This growing inequality gap knocks the country down to 18th place for median wealth. SwitzerlandSome 9.5% of the Swiss are millionaires, placing the central European country fourth. It ranks lower in the list though when looking at the number of billionaires per proportion of the population. According to the Boston Consulting Group, the United States leads the pack with around 7,085,000 households being millionaires in 2017. 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. 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. Total population:815,000, according to the US Census Bureau. Are you a single adult who lives alone? Fortune wants to hear how inflation is affecting your budget. The United Kingdom and Canada are fourth and fifth with around . 3 University Park, Texas Brooks Kraft // Getty Images 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. The final scores (visualized as the bars in the infographic above) represent each states weighted average across all metrics. [Online]. But have you ever thought about where the best place is to retire? However, thats where the similarities end. Copyright 2012-2023, Nomad Capitalist Limited. Show publisher information Total population:6.7 million, according to Government of Canada 2021 Census report. 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. 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. Lets see how this shakes out when ranking the worlds most affluent countries. 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. Setting aside exchange rate movements, aggregate global wealth grew by 12.7% in 2021, which is the fastest an . He has a net worth of $3.5 billion (2.2 billion) and Forbes says: "Great Britain is his playground." 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.. 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. 9.76 %. 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 thirteenth edition of the Global Wealth Report shows continued wealth growth across all regions led by North America and China. 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). 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. Christos Lazari is worth $2.2 billion (1.4 billion) and is a self-made billionaire from London property investments. 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. 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. 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. Countries With The Most Millionaires. 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. Learn how our legal, holistic approach can help you. 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. Total population:37.3 million, according to World Population Review. The richest man in Switzerland isErnesto Bertarelli, who inherited pharmaceutical giant Serono. bank this year as Amazon's share price surged. 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. One possible reason is that the pay gap ratio between Japanese CEOs and the average worker is much lower than other developed nations. With 4.45 million individuals, China has the second highest millionaire population and it grew by 158,000 since 2018. Capgemini estimates that as of the end of April, global wealth among HNW individuals had already declined about 4% from 2021 levels. In 2014, it was the . *Hong Kong is an autonomous territory of China. Despite having roughly 1.4 billion people, China comes a distant second with only about 5.28 million millionaires. Statista. That includes everything from cash, checking, and savings accounts to investments in stocks, government bonds, and mutual funds. Jeff Bezos has been smiling all the way to the. 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. statistic alerts) please log in with your personal account. $58,905. Directly accessible data for 170 industries from 50 countries and over 1 million facts: Get quick analyses with our professional research service. Lebanon has a free-market economy and now houses seven billionaires, including telecoms magnate and former Prime MinisterNajib Mikati. 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. He founded theTrendy International Group of Guangzhou in China, which countsLVMH's financial vehicle L Capital as an investor. Hong Kong. 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. Then you can access your favorite statistics via the star in the header. (May 28, 2020). The firm defines millionaires as anyone with $1 million or more in investable assets. Total population:7.4 million, according to World Bank. 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 population:2.16 million, according to Department of Paris (last reported in 2019). Monaco is home to 12,261 millionaires in less than one square mile. American states with highest ratio of millionaire households per capita in 2020 [Graph]. There are a record 735 billionaires in the U.S., which remains the leading country for billionaires. As a Premium user you get access to the detailed source references and background information about this statistic. In fact, the United States doesnt appear on the list of most millionaires per capita, nor is it the richest country in the world. Third-placed Colorado is a mirror of Florida, offering excellent health care but a lower quality of life in comparison. 9.44 %. 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). The population ratio is based on 1 Jul 2019 U.S. Census Bureau data. 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 Here are the 20 countries and territories with the biggest number of the world's billionaires: 1. Accessed May 02, 2023. https://www.statista.com/statistics/294941/largest-ratio-millionaire-households-per-capita-us/, Kiplinger. The continent's largest economy also has the most numbers of millionaires in Europe. There are 1826 billionaires in the world and there are some countries that have hundreds of them.
