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. 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. 9.72 %. 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 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. This industry has 371 billionaires that work within it, not to mention millionaires. Fortune wants to hear how inflation is affecting your budget. Learn more about how Statista can support your business. Finally, wealth in Japan is fairly evenly distributed among its large middle class, which lands it in seventh place on the median wealth list at $103,861. With 107 billionaire residents . In the second group, this gap climbs to $495, and the median wealth drops sharply to only $30. Terms & Conditions. The U.S. houses the largest amount of billionaires in the world and continues to dominate the rankings for the world's richest people. In 2014 it was the world's biggest capital exporter, with a trade surplus of $285 billion. United States Andrew Burton/Getty Images The US has 724 billionaires, led by Elon Musk, the CEO. He founded theTrendy International Group of Guangzhou in China, which countsLVMH's financial vehicle L Capital as an investor. This includesSwedish video game programmer and designerMarkus Alexej Persson who founded the Mojang video game company which made the insanely popular Minecraft video game. If you said finances, youre probably right. Heres a list of countries with the highest number of US dollar millionaires per capita and it may surprise you. 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. 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. It is also home toStein Erik Hagen, who founded discount supermarket Rimi with his father in the 1970s. 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. 15 Wild Facts About Monaco, Where 32% of Residents Are 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. Japan, with a population of about 126 million, has roughly 3.66 million millionaires. No single Swede comes close to the epic wealth of a Bill Gates or a Warren Buffett. The lack of movement in the top 25 countries last year emphasizes this. During the second world war, Los Alamos was. 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. Bjorgolfsson is worth around $1.28 billion (817 million). 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. Shutterstock/RossHelen The number of millionaires increased by 12% between 2013 and 2018, according to the 2019 Knight Frank. Despite having roughly 1.4 billion people, China comes a distant second with only about 5.28 million millionaires. September 1, 2022. CareersPartner With UsBecome A VendorBook Us For SpeakingRequest An InterviewSocial Responsibility, ExpatFinanceOffshoreGlobal CitizenEntrepreneurCryptocurrency, ABOUT CONTACT +1 (979) 966-6623. A staggering 61.6% of the global HNWI population now live in these four countries, up from 61.1% at the start of 2018. 2. The Future of 5G: Comparing 3 Generations of Wireless Technology. Total population:2.7 million, according to the US Census Bureau. Germany 1,199,000 The eurozone's largest economy also has the most millionaires in Europe. 2 . Total population: 19.6 million, according to National Bureau of Statistics of China (last reported in 2010). Three of them are billionaires. 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. 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. to incorporate the statistic into your presentation at any time. 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. 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. 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. 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. There are 1826 billionaires in the world and there are some countries that have hundreds of them. Total population: Approximately 200,000, according to United Nations (last reported in 2017). Learn how our legal, holistic approach can help you. The growth was mostly spurred by investments in the stock market, with a particular focus on the technology sector. The millionaires in the state account for approximately 7.75% of the population. I write about wealth, the wealthy and investment. 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. 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%. Total population: 8.4 million, according to the US Census Bureau. Despite this difference, these countries also provide a strong safety netincluding access to healthcare and educationto more vulnerable citizens. However, due to Iceland's small population, Iceland makes number 8 in the list. Accessed May 02, 2023. https://www.statista.com/statistics/294941/largest-ratio-millionaire-households-per-capita-us/, Kiplinger. The U.S. scores highly on all three and its millionaire population is continuing to expand, growing by 675,000 since 2018. 5. 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. KuwaitThanks to its significant oil reserves, 11.8% of Kuwaitis are US-dollar millionaires. Altogether, Americas billionaires are worth $4.7 trillion, up from $4.4 trillion on last years list. Lebanon has a free-market economy and now houses seven billionaires, including telecoms magnate and former Prime MinisterNajib Mikati. Jeff Bezoss $13 billion one day gain this week underlined the U.S.s status as the worlds center of wealth, but its not just him getting richer. Characteristic. Kiplinger. Top editors give you the stories you want delivered right to your inbox each weekday. Footnote: All data estimates are using mid-2018 values, and reflected in US$. 9.44 %. If youre a successful business owner or investor, you may be tired of getting hit with higher taxes and scorn from your home country. 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. See the full list of the top 20 millionaire metropolises and megalopolises below. 10 Richest States in USA 2022 - Wealthiest States in America - Veranda [1] [dubious - discuss] Regions by number and percentage of millionaires [ edit] In 2007, he sold it to Merck for $9 billion (5.7 billion). "Countries with the highest proportion of millionaires in 2021." 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. Top 10 Countries With The Most Billionaires Per Capita Millionaires in America 2020: All 50 States Ranked | Kiplinger However, it still has five billionaires under its belt. In North America, 32% of millionaires total investments is in stocks, compared to just 29% of the global average. This includes, Swedish video game programmer and designer. But one country stands out on the list: Sweden (No. 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. This growing inequality gap knocks the country down to 18th place for median wealth. Countries With The Most Millionaires. Email reporterAlicia Adamczyk to share your story for a future article. In fact, the data shows that both nations top the lists for both mean and median wealth. 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. Across the world, Abu Dhabi and Dubai appear to have some of the fastest growing populations of millionaires, according to the report. Welcome to our ultimate guide for obtaining a French residence permit in 2023. In the first group, wealth is distributed more evenly, with the disparity between the lowest-paid and highest-paid being $300. San Francisco had the. 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. global citizen in the 21st century and how you can join the movement. Total population:4.4 million, according to Australian Bureau of Statistics (last reported in 2011). Third-placed Colorado is a mirror of Florida, offering excellent health care but a lower quality of life in comparison. See below for more comprehensive results. 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. The Countries With The Most Millionaires [Infographic] - Forbes (May 28, 2020). WalletHub ranked each state using 47 metrics across three dimensions. Setting aside exchange rate movements, aggregate global wealth grew by 12.7% in 2021, which is the fastest an . If you are an admin, please authenticate by logging in again. Lansdown is worth $2.1 billion (1.3 billion) after co-founding British financial-services firm Hargreaves Lansdown. Being strategic about location can make a big impact on your quality of life, and perhaps help your savings go just a bit further. List of U.S. states by the number of billionaires - Wikipedia 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. With 4.45 million individuals, China has the second highest millionaire population and it grew by 158,000 since 2018. 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. Share to Linkedin. 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. Are you interested in testing our business solutions? You may notice that prioritizing one dimension will often come at a trade-off in others. Their census has calculated the top 10 countries with the most billionaires per capita, which are as follows: 10. 12, 14 billionaires, population 9.56 million). 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. Statista. And with roughly 40 million residents, it's also the most populous state in the country. As soon as this statistic is updated, you will immediately be notified via e-mail. Norway Total number of billionaires: 15 Billionaires per million people: 2.9. The biggest reason for the drop? Countries with the highest proportion of millionaires in 2021 [Graph]. 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. Another country shedding billionaires: Russia. The continent's largest economy also has the most numbers of millionaires in Europe. Show publisher information 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. By clicking Sign Up, you also agree to marketing emails from both Insider and Morning Brew; and you accept Insiders. American states with highest ratio of millionaire households per capita SwitzerlandSome 9.5% of the Swiss are millionaires, placing the central European country fourth. Since it is dependent on international trade and finance, Hong Kong has become one of the most prominent financial centres in the world. Jeff Bezos has been smiling all the way to the. Lets see how this shakes out when ranking the worlds most affluent countries. Accessed May 02, 2023. https://www.statista.com/statistics/262687/countries-with-the-highest-rate-of-millionaires/, Credit Suisse. 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. Based on the evidence since the financial crisis, secular global wealth growth appears to be closely aligned with global GDP growth. You can find more videos, talks, and other content related to Finance & Global Citizen on our YouTube channel. See which states score the highest in terms of affordability, quality of life, and health care. Not only did more Americans . This two-island country in the West Indies wereamong the first islands in the Caribbean to be settled by Europeans. highly developed and successful free-market economy and is corruption-free. 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. 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. Total population:37.3 million, according to World Population Review. 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:5.6 million, according to World Bank. Chart: Automakers Adoption of Fuel-Saving Technologies, Explainer: What to Know About the Ohio Train Derailment, Infographic: 11 Tech Trends to Watch in 2023. Currently, you are using a shared account. The number of US millionaires is surging. Here are 7 countries with the Globally, the population of those with more than a million in assets grew by about 8%. 33 Incredible Millionaire Statistics [2023]: 8.8% Of US Adults Are New York has the most millionaires of any world city, but lost 12% of them in the first half of 2022. .mw-parser-output table.static-row-numbers{counter-reset:rowNumber}body.skin-minerva .mw-parser-output .static-row-numbers2.sortable{counter-reset:rowNumber -1}body.skin-minerva .mw-parser-output .static-row-numbers2.sortable.static-row-header-two{counter-reset:rowNumber -2}.mw-parser-output table.static-row-numbers tr::before{display:table-cell;padding-right:0.5em;text-align:right}.mw-parser-output table.static-row-numbers tr::before{content:""}.mw-parser-output .static-row-numbers-skip{counter-increment:rowNumber}.mw-parser-output table.static-row-numbers.sortable tbody tr:not(.static-row-header):not(.static-row-numbers-norank)::before,.mw-parser-output table.static-row-numbers:not(.sortable) tbody tr:not(:first-child):not(.static-row-header):not(.static-row-numbers-norank)::before{counter-increment:rowNumber;content:counter(rowNumber);padding-right:0.5em;padding-left:0.5em;vertical-align:inherit}.mw-parser-output .static-row-header-text thead tr::before{content:"No. FORTUNE is a trademark of Fortune Media IP Limited, registered in the U.S. and other countries. List of U.S. states by the number of millionaire households Hong KongMore than 200,000 residents of this Special Administrative Region of China about 8.8% to be exact are US dollar millionaires. This U.S. City Is the Richest On Earth (Here Are the Top 10) RANKED: The 19 countries with the most millionaires Founder of Nomad Capitalist and the worlds most sought-after expert on global citizenship. States with the most millionaires per capita - CNBC By clicking Sign up, you agree to receive marketing emails from Insider Texas had the second highest number, with 566,000, followed by New York with 465,000. 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. If you said the United States, youd be wrong. 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. 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. The Golden State boasts the largest economy in the U.S., with a gross state product of about $3 trillion. 3. Chart. The final scores (visualized as the bars in the infographic above) represent each states weighted average across all metrics. Taxes are largely levied by cantons and some offer flat rates. [Online]. Privacy Policy and Cookie PolicyNomad Capitalist and Go Where Youre Treated Best are registered trademarks. N ew York City has taken back its crown. Germany . S&P Index data is the property of Chicago Mercantile Exchange Inc. and its licensors. 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. 25 Richest Cities in the US 2022 - Wealthiest Cities in America - Veranda Monaco is home to 12,261 millionaires in less than one square mile. What is the most important aspect of retirement planning? 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. Timeline: Cannabis Legislation in the U.S. Visualizing the Relationship Between Cancer and Lifespan, Global EV Production: BYD Surpasses Tesla. The best of the best: the portal for top lists & rankings: Strategy and business building for the data-driven economy: Show sources information Ghanem said this is borne out by data from its World Wealth Reports of recent years. *Hong Kong is an autonomous territory of China. Perhaps the most famous Israeli billionaire right now isbachelor Teddy Sagi, who made his money setting up gambling software maker Playtech. The Countries With The Most Millionaires In The World So it's surprising that it counts only three people as billionaires as its residents. Sweden is famed for its high standards of living as well as itsmixed system of high-tech capitalism and extensive welfare benefits. San Francisco had the highest number of billionaires of any city on the list. 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. However, it has also fostered 23 billionaires as of this year. 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. Between the skyscrapers and bright lights, it seems like millionaires just can't pull themselves away from allure of the concrete jungle. Credit Suisse. Ratio of millionaire households per capita. The largest economic sectors in California are agriculture, media, tourism, and technology. Where are Clean Energy Technologies Manufactured? In, Credit Suisse. Switzerland is the perfect breeding ground for billionaires with its highly skilled labour force and low corporate tax rates. Across North America, the HNW population grew by 13.2%. 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. wealth growth in North America outpaced that of Asia-Pacific for the first time since 2012. 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. What are the taxes in Italy? However, it has also fostered 23 billionaires as of this year. Please do not hesitate to contact me. But have you ever thought about where the best place is to retire? Singapore is one of the wealthiest countries with aper capita GDP higher than that of most developed countries. The richest man in Switzerland isErnesto Bertarelli, who inherited pharmaceutical giant Serono. 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. statistic alerts) please log in with your personal account. 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. I'm trying to figure out how we compare to other cities across the country when it comes to homeless populations per capita. Please create an employee account to be able to mark statistics as favorites. Confiscatory tax rates, along with double taxation, are prohibited by the constitution. Leave a comment below. The total net worth of all millionaires stood at around $158.261trillion. Connecticut was ranked second in median household income and in 2016 stood at roughly $72,889. Thats up from 724 billionaires a year ago. In 2007, he sold it to Merck for $9 billion (5.7 billion). However, thats where the similarities end. Opinions expressed by Forbes Contributors are their own. 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. All Rights Reserved. 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. So where you can do to fit in if you have a big suitcase of money? Connecticut. Directly accessible data for 170 industries from 50 countries and over 1 million facts: Get quick analyses with our professional research service. How Does U.S. Electricity Generation Change Over One Week?