WEALTHRanked: Countries With the Most Millionaires and Billionaires
Published 2 days ago on July 3, 2024
By Marcus Lu
Graphics/Design:
Miranda Smith
See this visualization first on the Voronoi app.
This graphic lists the top 12 countries by number of high net worth individuals (HNWIs).
USE THIS VISUALIZATION
Ranked: Countries With the Most Millionaires and Billionaires
This was originally posted on our Voronoi app. Download the app for free on iOS or Android and discover incredible data-driven charts from a variety of trusted sources.
This graphic lists the top 12 countries by number of high net worth individuals (HNWIs). An HNWI is someone with liquid investable wealth of $1 million USD or more.
Importantly this excludes assets such as primary residences from counting towards wealth.
Data for this graphic is sourced from the Henley Private Wealth Migration Report 2024.
Where Do the Wealthy Live?
The U.S. leads the world with a massive millionaire (>$1 million USD) population of 5,492,400. To put this into perspective, the U.S. has more millionaires than Ireland has people.
Unsurprisingly, America also has the most centi-millionaires (9,850) and billionaires (788) as well.
Country Millionaires
(USD 1M+) Centi-millionaires
(USD 100M+) Billionaires
(USD 1B+)
🇺🇸 U.S. 5,492,400 9,850 788
🇨🇳 China 862,400 2,352 305
🇩🇪 Germany 806,100 1,075 82
🇯🇵 Japan 754,800 748 39
🇬🇧 UK 602,500 830 75
🇫🇷 France 506,000 605 55
🇨🇭 Switzerland 427,700 730 40
🇦🇺 Australia 383,300 463 48
🇨🇦 Canada 371,200 495 52
🇮🇳 India 326,400 1,044 120
🇮🇹 Italy 289,300 418 38
🇸🇬 Singapore 244,800 336 30
Note: Data current to December, 2023.
Far behind the U.S. in all three metrics, China is the next country with the most millionaires (862,400) and billionaires (305).
However, despite ranking 11th in terms of millionaires, India has the world’s third-largest billionaire population (120).
Economic size is a clear indication of a country’s propensity to having more numbers of high net worth individuals. Nine of the top 12 countries with the biggest wealthy populations are also the top 10 countries by gross domestic product.
However, Switzerland and Singapore are two countries that punch above their weight, helped by their status as offshore financial centers. With their tax benefits, asset protection, and privacy, they tend to attract wealthy individuals at a higher rate. For smaller countries, attracting this outside wealth can dramatically increase economic activity.
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