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Millionaires By Country

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The Millionaire's Club - A Global Perspective

Economic growth and wealth accumulation varies significantly around the globe. One indicator of a country's overall prosperity is the number of millionaires residing within its borders. This measure provides insight into the scale of wealth distribution, the maturity of its economy, and the opportunities available for individuals to amass substantial personal fortunes.

The United States leads the world in the number of millionaires, with an estimated 24,480 individuals boasting a net worth of at least one million dollars. This high number reflects the country's robust economy, strong entrepreneurial spirit, and the widespread opportunities available for wealth generation.

Notable findings from the data include:

  • With 24,480 individuals, the United States has the highest number of millionaires globally. This signifies the strength of the country's economy and the significant opportunities available for wealth creation.
  • Following the United States, countries with the next highest number of millionaires are China (6,190), Japan (3,366), and the United Kingdom (2,849). These nations each have strong economies and a high level of income inequality.
  • Brazil, often branded as an emerging economy, has 266 millionaires, highlighting its development and rapid economic advancements. 
  • Despite being a relatively small city-state, Singapore is home to 299 millionaires, indicating its appeal to wealthy individuals due to its strong economy, strategic location, and favorable tax regulations.
  • Countries with developing economies like Vietnam and Colombia have fewer millionaires, with 49 and 39 respectively, reflecting the economic disparities globally.

The distribution of millionaires around the world offers an interesting insight into the diversity and disparity of global wealth. While the highest concentration of millionaires is seen in developed economies, there are notable numbers of heavy hitters in emerging markets as well, signaling the dynamic and changing landscape of global wealth distribution.

Countries with Most Millionaires

Representing over 40% of global millionaires is the United States, ranking first with 24,480 individuals identified as millionaires, a testament to the important role the country plays in global economics and its affinity for fostering wealth creation.

China squares up behind the United States, ranking second with 6,190 millionaires -- a notable number but considerably less as compared to the United States. The third place is occupied by Japan with 3,366 millionaires, indicating a positive economic climate, despite the country’s issues of aging population and inflation.

The United Kingdom comes in fourth place with 2,849 millionaires, followed closely by France with 2,796. These figures convey the strong economies of these European countries and their consistent ability to sustain considerable wealth among individuals.

Germany ranks sixth, housing 2,683 millionaires, a fact that underscores its robust economic health and favorable trade policies. Coming in at the seventh and eighth spots are Canada and Australia, with 2,291 and 2,177 millionaires respectively.

Italy occupies the ninth position with 1,413 millionaires, whereas the tenth spot is secured by South Korea with 1,290 millionaires. The strength of their manufacturing sectors and technology-driven industries are likely contributors to high individual wealth accumulation. 

Countries with Most Millionaires:

  1. United States - 24,480 millionaires
  2. China - 6,190 millionaires
  3. Japan - 3,366 millionaires
  4. United Kingdom - 2,849 millionaires
  5. France - 2,796 millionaires
  6. Germany - 2,683 millionaires
  7. Canada - 2,291 millionaires
  8. Australia - 2,177 millionaires
  9. Italy - 1,413 millionaires
  10. South Korea - 1,290 millionaires

By Country

Full Data Set

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Frequently Asked Questions

Source

Year: 2022

Source: Global Wealth Report