In 2007, he sold it to Merck for $9 billion (5.7 billion). Lets see how this shakes out when ranking the worlds most affluent countries. currently looking to buy out the embattled Plus500 trading firm. "American States with Highest Ratio of Millionaire Households per Capita in 2020. San Francisco had the. With 4.45 million individuals, China has the second highest millionaire population and it grew by 158,000 since 2018. The biggest reason for the drop? 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. Total population: Approximately 200,000, according to United Nations (last reported in 2017). global citizen in the 21st century and how you can join the movement. Getting ready for retirement? 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. 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 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). Denmark. 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. San Francisco had the highest number of billionaires of any city on the list. 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. While Singapores tax scheme is a bit less liberal than that of Hong Kong, it is also territorial in nature. Total population:5.6 million, according to World Bank. 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. The finance and investments industry produces the highest number of millionaires. A show of the countrys growing economy and influence, that percentage has been increasing. Total population:23 million, according to National Bureau of Statistics of People's Republic of China (last reported in 2010). ", 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. Are you a single adult who lives alone? This creates new wealth, adding to the ranks of the existing asset-rich HNWIs there. While using such a metric certainly gives a quick snapshot of wealth per capita, it doesnt necessarily show the complete picture. However, due to Iceland's small population, Iceland makes number 8 in the list. A staggering 61.6% of the global HNWI population now live in these four countries, up from 61.1% at the start of 2018. By clicking Sign up, you agree to receive marketing emails from Insider 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. List of countries by number of billionaires, List of countries by number of millionaires, List of countries by share of income of the richest one percent, "The 15 top countries for billionaires, ranked by how many live there", "Hurun Report - Info - Hurun Global Rich List 2022", https://en.wikipedia.org/w/index.php?title=List_of_countries_by_number_of_billionaires&oldid=1149285975, This page was last edited on 11 April 2023, at 08:25. Not only did more Americans . Statista. 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. The thirteenth edition of the Global Wealth Report shows continued wealth growth across all regions led by North America and China. Accessed May 02, 2023. https://www.statista.com/statistics/262687/countries-with-the-highest-rate-of-millionaires/, Credit Suisse. Luxembourg. 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. bank this year as Amazon's share price surged. Learn more about how Statista can support your business. In, Credit Suisse. Connecticut. 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. statistic alerts) please log in with your personal account. Lebanon has a free-market economy and now houses seven billionaires, including telecoms magnate and former Prime MinisterNajib Mikati. Thanks to said oil riches, residents pay zero income tax and very few other taxes. $58,905. 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. Then you can access your favorite statistics via the star in the header. Despite having roughly 1.4 billion people, China comes a distant second with only about 5.28 million millionaires. Directly accessible data for 170 industries from 50 countries and over 1 million facts: Get quick analyses with our professional research service. Total population:Approximately 3.9 million, according to the US Census Bureau. See which states score the highest in terms of affordability, quality of life, and health care. Check out this graphic on the top 25 countries to retire in. 2 . One possible reason is that the pay gap ratio between Japanese CEOs and the average worker is much lower than other developed nations. The continent's largest economy also has the most numbers of millionaires in Europe. What are the taxes in Italy? And yet Los Alamos has more millionaires per capita than almost anywhere else in the country. Currently, you are using a shared account. [Online]. Across the world, Abu Dhabi and Dubai appear to have some of the fastest growing populations of millionaires, according to the report. I write about wealth, the wealthy and investment. #20. Due to high exposure to equity, HNWI wealth in North America is expected to be most impacted followed by Europe, which also copes with the ongoing geopolitical crises, the researchers write. Although Los Altos isn't the wealthiest city in the U.S., it does boast the highest median home value. Germany 1,199,000 The eurozone's largest economy also has the most millionaires in Europe. Third-placed Colorado is a mirror of Florida, offering excellent health care but a lower quality of life in comparison. Which of these most millionaires countries would you prefer to live in? 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. Taiwan. In all, we found 2,668 ten-figure fortunes this yeardown from 2,755 last year. However, it has also fostered 23 billionaires as of this year. SwitzerlandSome 9.5% of the Swiss are millionaires, placing the central European country fourth. Here are some examples of what each dimension measures: Visit the source for the full list of metrics. per capita GDP at$54,800 (34,988). Profit from the additional features of your individual account. With reducing income inequality as a priority for many countries around the world, how might this list change in coming years? Chart. 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. Andrew Henderson wrote the #1 best-selling book that redefines life as a diversified, 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. But Capgemini warns that while 2021 was a strong growth year, 2022 could see different trends. American states with highest ratio of millionaire households per capita in 2020 [Graph]. Welcome to our ultimate guide for obtaining a French residence permit in 2023. 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. 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. Currently, you are using a shared account. The total net worth of all millionaires stood at around $158.261trillion. The ideal entry-level account for individual users. Total population:6.7 million, according to Government of Canada 2021 Census report. Chart: Automakers Adoption of Fuel-Saving Technologies, Explainer: What to Know About the Ohio Train Derailment, Infographic: 11 Tech Trends to Watch in 2023. 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. 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. Singapores status as a low-tax destination, home of clean air and low crime, and hub for finance in growing Southeast Asia has made it a top spot for wealthy individuals and entrepreneurs. If you are an admin, please authenticate by logging in again. Number of billionaires: 19 Population: 5,469,700 Population per one billionaires: 287,879 Singapore is one of the wealthiest countries with a per capita GDP higher than that of most. Countries with the highest proportion of millionaires in 2021 [Graph]. Total population:9 million, according to London Datastore. Then you can access your favorite statistics via the star in the header. 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. In order to be considered HNW, individuals must have a net worth of more than $1 million, excluding their primary residence, as well as assets like collectibles and cars. Connecticut was ranked second in median household income and in 2016 stood at roughly $72,889. The best of the best: the portal for top lists & rankings: Strategy and business building for the data-driven economy: Show sources information See the full list of the top 20 millionaire metropolises and megalopolises below. It's richest resident is Li Ka-Shing, the self-made billionaire worth $33.5 billion (22.3 billion). In the first group, wealth is distributed more evenly, with the disparity between the lowest-paid and highest-paid being $300. Taxes are largely levied by cantons and some offer flat rates. There are 1826 billionaires in the world and there are some countries that have hundreds of them. California had the most millionaires in total 885,000 but it ranked 10th in terms of per capita. He founded theTrendy International Group of Guangzhou in China, which countsLVMH's financial vehicle L Capital as an investor. 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. Israel is big on cut diamonds, high-tech equipment and pharmaceuticals. 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. Looking at Minnesota once more, we can see that the state is also one of Americas most expensive. [Online]. To use individual functions (e.g., mark statistics as favourites, set New Jersey. In the second group, this gap climbs to $495, and the median wealth drops sharply to only $30. 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. Maryland. 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. In 2014, it was the . There are 34 fewer Russian billionaires this year, as share prices cratered, the ruble plummeted in value and sanctions hit Russian oligarchs assets. Kiplinger. 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. Business Solutions including all features. Privacy Policy and Cookie PolicyNomad Capitalist and Go Where Youre Treated Best are registered trademarks. With 539 billionaires down 87 since last year with a collective nearly $2 trillion, China is still the country with the second-most billionaires. 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). Asset price inflation and/or U.S. dollar depreciation can temporarily flatter the wealth growth figures, but cannot alter the longer-term trends. All rights reserved. It has ahighly developed and successful free-market economy and is corruption-free. 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. Despite this difference, these countries also provide a strong safety netincluding access to healthcare and educationto more vulnerable citizens. Total population:791,000, according to World Population Review. Thor Bjorgolfsson. Oil wealth is evident in the country, as youd think they had invented the uber-luxury shopping mall just by walking around Doha. Here are the 20 countries and territories with the biggest number of the world's billionaires: 1. wealth growth in North America outpaced that of Asia-Pacific for the first time since 2012. 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. Hong Kong More than 200,000 residents of this Special Administrative Region of China - about 8.8% to be exact - are US dollar millionaires. 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 All told, there are 614 U.S. citizens on Forbes' 2020 World's. The Golden State boasts the largest economy in the U.S., with a gross state product of about $3 trillion. However, while nations like China may house some of the world's richest people, with 400 billionaires, it doesn't actually have the highest number of billionaires in proportion to the population. $212,375. Countries With The Most Millionaires. (May 28, 2020). Where are Clean Energy Technologies Manufactured? You can find more videos, talks, and other content related to Finance & Global Citizen on our YouTube channel. The firm defines millionaires as anyone with $1 million or more in investable assets. The total net worth of all millionaires stood at around $158.261 trillion. Ghanem said this is borne out by data from its World Wealth Reports of recent years. 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.
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