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. The continent's largest economy also has the most numbers of millionaires in Europe. 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. 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:2.7 million, according to the US Census Bureau. Powered and implemented by Interactive Data Managed Solutions. 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. KuwaitThanks to its significant oil reserves, 11.8% of Kuwaitis are US-dollar millionaires. Which Countries are Buying Russian Fossil Fuels? What are the taxes in Italy? 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. Fortune wants to hear how inflation is affecting your budget. Lets see how this shakes out when ranking the worlds most affluent countries. Then you can access your favorite statistics via the star in the header. Countries with the highest proportion of millionaires in 2021 [Graph]. 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 One possible reason is that the pay gap ratio between Japanese CEOs and the average worker is much lower than other developed nations. But have you ever thought about where the best place is to retire? "Countries with The Highest Proportion of Millionaires in 2021. Show publisher information Altogether, Americas billionaires are worth $4.7 trillion, up from $4.4 trillion on last years list. Accessed May 02, 2023. https://www.statista.com/statistics/262687/countries-with-the-highest-rate-of-millionaires/, Credit Suisse. 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. Profit from the additional features of your individual account. It ranks lower in the list though when looking at the number of billionaires per proportion of the population. Please create an employee account to be able to mark statistics as favorites. as well as other partner offers and accept our, mass migration of its moneyed classes in the past several years. Having been voted the freest economy in the world for years now, Hong Kong is far from the worst place to be a millionaire. Currently, you are using a shared account. 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. However, it still has five billionaires under its belt. 4. Total population:2.16 million, according to Department of Paris (last reported in 2019). "Countries with the highest proportion of millionaires in 2021." Here are some examples of what each dimension measures: Visit the source for the full list of metrics. Access your favorite topics in a personalized feed while you're on the go. According to this methodology, Virginia is currently the best state for retirement. The finance and investments industry produces the highest number of millionaires. And yet Los Alamos has more millionaires per capita than almost anywhere else in the country. Total population: Approximately 200,000, according to United Nations (last reported in 2017). To use individual functions (e.g., mark statistics as favourites, set Founder of Nomad Capitalist and the worlds most sought-after expert on global citizenship. A show of the countrys growing economy and influence, that percentage has been increasing. Several cities across the US are quickly catching up to the Big Apple, though, due in part to New York losing 12% of its wealthiest denizens over the first half of 2022. FORTUNE is a trademark of Fortune Media IP Limited, registered in the U.S. and other countries. This statistic is not included in your account. Lansdown is worth $2.1 billion (1.3 billion) after co-founding British financial-services firm Hargreaves Lansdown. If you are an admin, please authenticate by logging in again. bank this year as Amazon's share price surged. Learn how our legal, holistic approach can help you. The lack of movement in the top 25 countries last year emphasizes this. Available: https://www.statista.com/statistics/294941/largest-ratio-millionaire-households-per-capita-us/, American states with highest ratio of millionaire households per capita in 2020, Immediate access to statistics, forecasts & reports, Number of people with wealth over one million U.S dollars 2021, by country, Countries with the highest millionaire rate in 2021, Ultra high net worth individuals: population of global 1 percent 2021, by country, Number of millionaire households U.S. 2006-2020, U.S. high net worth individuals 2008-2021, North America wealth of high net worth individuals 2008-2021, Asset allocation of high net worth individuals in North America 2021, U.S. distribution of assets by category and wealth percentile Q1 2021, Share of households who are millionaires by state U.S. 2020, Number of households who are millionaires. Copyright 2012-2023, Nomad Capitalist Limited. Chart. 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. However, due to Iceland's small population, Iceland makes number 8 in the list. SwitzerlandSome 9.5% of the Swiss are millionaires, placing the central European country fourth. Phoenix . We create and implement bespoke, holistic strategies for successful investors and entrepreneurs to legally reduce their tax bills, diversify and protect their assets, become global citizens and maximize their freedom. As a Premium user you get access to background information and details about the release of this statistic. You need at least a Starter Account to use this feature. 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. 1. This is mainly becausethe geographically small country has a relatively open economy with crude oil reserves of about 102 billion barrels, according to Forbes. Andrew Henderson wrote the #1 best-selling book that redefines life as a diversified, "American States with Highest Ratio of Millionaire Households per Capita in 2020. Kiplinger. Monaco is home to 12,261 millionaires in less than one square mile. 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. 2023 Fortune Media IP Limited. 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. But one country stands out on the list: Sweden (No. All rights reserved. Chart: Automakers Adoption of Fuel-Saving Technologies, Explainer: What to Know About the Ohio Train Derailment, Infographic: 11 Tech Trends to Watch in 2023. 9.76 %. SingaporeNot far behind Hong Kong in the race for economic freedoms top spot, Singapore is home to the worlds second highest number of millionaires by capita at 17.1%. 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. 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. According to the Boston Consulting Group, the United States leads the pack with around 7,085,000 households being millionaires in 2017. Are you interested in testing our business solutions? Dont limit yourself; let Nomad Capitalists unbiased approach help you find the best option. 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 fact, the data shows that both nations top the lists for both mean and median wealth. Chart. 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. This two-island country in the West Indies wereamong the first islands in the Caribbean to be settled by Europeans. Connecticut The 5,567 square mile state of Connecticut ranked third in the US in the number of millionaires per capita. 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. Total population:5.6 million, according to World Bank. 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. Total population:9.7 million, according to Seoul Solution. The United Kingdom and Canada are fourth and fifth with around . 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. Hong Kong More than 200,000 residents of this Special Administrative Region of China - about 8.8% to be exact - are US dollar millionaires. At a respective 285,000 and 205,400, San . Hong KongMore than 200,000 residents of this Special Administrative Region of China about 8.8% to be exact are US dollar millionaires. Since it is dependent on international trade and finance, Hong Kong has become one of the most prominent financial centres in the world. (May 28, 2020). 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). 9.44 %. Total global wealth grew by 9.8% and wealth per adult reached USD 87,489. 2. 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. You only have access to basic statistics. Oil wealth is evident in the country, as youd think they had invented the uber-luxury shopping mall just by walking around Doha. [1] [dubious - discuss] Regions by number and percentage of millionaires [ edit] In fact, the United States doesnt appear on the list of most millionaires per capita, nor is it the richest country in the world. How Does U.S. Electricity Generation Change Over One Week? Visualizing the Flow of Energy-Related CO2 Emissions in the U.S. As a Premium user you get access to the detailed source references and background information about this statistic. China is in second place with 2,124,000 households while Japan comes in third with 1,244,000 households. In 2007, he sold it to Merck for $9 billion (5.7 billion). 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. Denmark. Norway Total number of billionaires: 15 Billionaires per million people: 2.9. The largest economic sectors in California are agriculture, media, tourism, and technology. In all, we found 2,668 ten-figure fortunes this yeardown from 2,755 last year. 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. Top 10 countries by the number of billionaires per capita 2013 African cities with the most billionaires, as of 2014 Educational attainment of billionaires worldwide, 2013 Statista. S&P Index data is the property of Chicago Mercantile Exchange Inc. and its licensors. The millionaires in the state account for approximately 7.75% of the population. ";padding-right:0.5em;padding-left:0.5em;font-weight:bold}.mw-parser-output .static-row-header-hash thead tr::before{content:"#";padding-right:0.5em;padding-left:0.5em;font-weight:bold}.mw-parser-output .static-row-header-row thead tr::before{content:"Row";padding-right:0.5em;padding-left:0.5em;font-weight:bold}body:not(.skin-minerva) .mw-parser-output .static-row-numbers.wikitable tr::before{background-color:#eaecf0;vertical-align:middle}body:not(.skin-minerva) .mw-parser-output .static-row-numbers.mw-datatable:not(.wikitable) tr::before{background-color:#eaeeff}.mw-parser-output table.static-row-numbers.wikitable tbody tr:not(.static-row-header)::before,body:not(.skin-minerva) .mw-parser-output .static-row-numbers.mw-datatable:not(.wikitable) tbody tr::before{border:1px solid #a2a9b1}.mw-parser-output .static-row-numbers-period2 tbody tr::before{content:counter(rowNumber)". Kuwait is the fifth richest country in the world, as measured by GDP per capita, with $70,914 per person. Leave a comment below. The island nation boasts 19 billionaires, many of whom made their fortunes through real estate and banking, such asproperty tycoons Robert and Philip Ng with a net worth of $8.6 billion (5.5 billion). So where you can do to fit in if you have a big suitcase of money? 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. It's sole billionaire is the elusive Jacky Xu, who is originally from China. Globally, the population of those with more than a million in assets grew by about 8%. Another country shedding billionaires: Russia. Share to Linkedin. 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. Taxes are largely levied by cantons and some offer flat rates. President Vladmimir Putins invasion of Ukraineand the swift backlash of the international communitysent Russian markets into a freefall in February. Directly accessible data for 170 industries from 50 countries and over 1 million facts: Get quick analyses with our professional research service. California and New York are the top two U.S. states with the most billionaires, each claiming more than 100 billionaire residents. 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. While using such a metric certainly gives a quick snapshot of wealth per capita, it doesnt necessarily show the complete picture. Israel is big on cut diamonds, high-tech equipment and pharmaceuticals. 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. The Swiss franc currency has been on quite a roll in recent years, too, remaining a top safe haven currency in Europe. Which of these most millionaires countries would you prefer to live in? Total population:7.4 million, according to World Bank. 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. Last year, Beijing was the city home to the most billionaires in the world. While China is growing more millionaires than any other country, Hong Kong has some of the most millionaires per capita 5. 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. If you said finances, youre probably right. 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. $58,905. There are 34 fewer Russian billionaires this year, as share prices cratered, the ruble plummeted in value and sanctions hit Russian oligarchs assets. Well send our best articles, videos, and exclusive content right to your inbox. Please do not hesitate to contact me. Learn more about how Statista can support your business. United States Andrew Burton/Getty Images The US has 724 billionaires, led by Elon Musk, the CEO. He has a net worth of $3.5 billion (2.2 billion) and Forbes says: "Great Britain is his playground." Check out this graphic on the top 25 countries to retire in.
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