These 11 Countries Have The Most Billionaires in The World
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| Top 11 Countries With The Most Billionaires in The World |
The 2,640 billionaires in the Forbes list of the world's richest people come from 77 countries and territories around the globe, up from 75 last year.
Two new countries joined the list: Panama and Armenia. Each country has one more billionaire: Panamanian billionaire investor Stanley Motta and Mr. Ruben Vardanyan - a politician, investment banker with Armenian nationality.
The number of billionaires in a country is frequently linked to the country's level of economic development and opportunities. The United States, for example, is known for its entrepreneurial spirit and easy access to venture capital, both of which have contributed to the country's growing billionaire population. Countries with weaker economies and fewer opportunities, on the other hand, tend to have fewer billionaires. This is evident in the case of Africa, where the entire continent has fewer than 25 billionaires, with Egypt and South Africa having the highest concentrations.
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1. United States
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| United States |
The US once again topped the list with 735 billionaires, similar to last year. Nearly 50 Americans, including Kanye West and Sam Bankman-Fried, have left the list. Dozens of others died. But more than 60 Americans joined the billionaire ranks for the first time this year.
But America is no longer home to the world's richest billionaire. Luxury giant Bernard Arnault (France) has surpassed electric car billionaire Elon Musk to become the richest person on the planet. However, 17 of the 25 richest people in the world are still from the US.
The total wealth of US billionaires this year is $ 4.5 trillion, down from $ 4.7 trillion last year. The reason is that high interest rates hit the market, causing many startups to struggle.
2. China
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| China |
China is the country with the second most billionaires in the world. 495 billionaires (excluding Hong Kong and Macau people) hold a total of 1,670 billion USD.
Last year, China's 539 billionaires held a fortune of $1.960 billion. But the country's richest have been hit by strict anti-epidemic measures, dragging down economic growth and weighing on stock prices.
The crisis in the real estate sector - after years of overheating - has also affected China's economic outlook. Along with that is Beijing's push to reorganize large technology corporations.
The names leaving China's billionaires list are e-cigarette giants Xiong Shaoming and Zhao Weiguo, chairman of Tsinghua Unigroup, a state-owned semiconductor business.
Zhao has been "missing" since mid-2022 and was charged with corruption in March of this year.
 The Full List of Chinese Billionaires In 2023 - Who Are The Richest People In China? |
3. India
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| India |
Following the US and China is India, the country with the third most billionaires with 169 people. The country's billionaires list has added three more people, but their combined net worth has fallen by $75 billion from last year to $675 billion.
Gautam Adani - Chairman of the Adani Group - has plummeted from $90 billion last year to $47.2 billion. Accusations of fraud and market manipulation against companies bearing his name sent stock prices plummeting.
 The Full List of Indian Billionaires In 2023 - Who Are Top 10 Richest People In India? |
4. Germany
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| Germany |
Meanwhile, Germany ranks fourth with 126 billionaires, down from 134 last year. Germany is Europe's largest economy and also has the continent's largest number of billionaires. The 11 richest people in Germany have a combined net worth of about $197 billion. Dieter Schwarz is Germany's richest man with a net worth of $42.9 billion. He owns the Schwarz discount supermarket chain with sales of more than $140 billion a year.
5. Russia
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| Russia |
Despite conflict and a series of sanctions from the West, Russia still has 105 billionaires with a combined net worth of $474 billion, up from 83 with $320 billion last year.
The billionaires who made the most money last year were fertilizer giant Andrey Melnichenko, whose net worth increased from $11.1 billion last year to $25.2 billion. Supply disruptions due to the conflict have sent fertilizer prices skyrocketing.
Oil billionaire Vagit Alekperov, steel giant Alexey Mordashov and nickel billionaire Vladimir Potanin also pocketed $10 billion, $7.7 billion and $6.4 billion, respectively, this year.
6. Hong Kong
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| Hong Kong |
The Asia-Pacific region still leads the list with a record 1,149 billionaires - 370 more than last year, largely due to newcomers from China and India.
According to Business Insider's Katie Warren, Hong Kong, which has added 24 billionaires in the last five years, has some of the most expensive real estate in the world. This is also one of the most expensive real estate markets in the world today.
7. Italy
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| Italy |
In the last five years, Italy's population has more than doubled.
The richest person in this country is Giovanni Ferrero, the billionaire secretly behind the Ferrero Group - the group that owns two famous chocolate brands Nutella and Ferrero Rocher. His total net worth is estimated at $32 billion, according to Bloomberg.
In fact, Italy is one of the countries with the most billionaires in the world. Jeff Bezos, the founder and CEO of Amazon, was named the world's richest man in 2021. In 2021, this Albuquerque-born entrepreneur's net worth was 189 billion US dollars. Elon Musk, one of the most visionary businessmen, came in second, with an estimated fortune of 182 billion US dollars in 2021.
8. Canada
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| Canada |
Compared to last year, Canada has increased 1 place in the rankings when taking the 8th place of the UK.
In 2021, there were 53 billionaires in Canada, rising to 65 in 2022. However, it is unclear whether all of these billionaires reside in Canada. They do, however, have Canadian citizenship and were previously residents of Canada. Given their wealth, billionaires are likely to maintain a high level of privacy, so we may never know where they actually live!
The average net worth of a billionaire in the Thomson family - Canada's richest family - is $3 billion. The total wealth of this family according to Forbes statistics at the beginning of this year is about 32.5 billion USD.
 The Full List of Canadian Billionaires In 2023 - Who Are The Richest People In Canada? |
9. Taiwan
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| Taiwan |
Taiwan has gained eight billionaires in the last five years. According to Taiwan News, the majority of the country's billionaires are self-made, with less than a third relying on a family fortune. Their combined fortune is $85.5 billion.
With a net worth of roughly $13.8 billion, Zhang Congyuan, founder of contract shoemaker Huali Industrial, is the richest person in Taiwan, followed by brothers Tsai Hong-tu and Tsai Cheng-ta of Cathay Financial (No. 2, $9.2 billion); Brothers Daniel Tsai and Richard Tsai of Fubon Financial (No. 3, $7.9 billion); and brothers Wei Ing-chou, Wei Ying-chiao, Wei Yin-Chun and Wei Yin-hen of food conglomerate Ting Hsin International Group (No. 4, $7.8 billion).
10. United Kingdom
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| James Ratcliffe |
With an estimated net worth of 15.7 billion US dollars as of January 30, 2023, James Ratcliffe was the wealthiest man in the United Kingdom, followed by Michael Platt (No. 2, $15.2 billion), Hinduja brothers (No. 3, $14.8 billion), and Ian & Richard Livingstone (No. 4, $8.1 billion).
With a net worth of $7.9 billion, Christopher Hohn ranks fifth in the United Kingdom. With a personal wealth of $7.9 billion, James Dyson ranked sixth, followed by Simon Reuben with $6.7 billion. With a net worth of $6.7 billion, David Reuben is ranked eighth. Cliver Calder ($5.7 billion) was ranked ninth among the top ten wealthiest people in the United Kingdom.
11. Brazil
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| Brazil |
Brazil is a developing country with numerous business opportunities. And there are some very successful large corporations in Brazil.
Jorge Paulo Lemann, a businessman and investment banker, is the richest person in Brazil. He holds dual Brazilian and Swiss citizenship and a bachelor's degree in economics from Harvard University. He is the co-founder of the Brazilian investment firm 3G Capital, which owns brands such as Burger King, Kraft Heinz, and AmBev, which produces some of Brazil's most well-known beers.
According to Forbes' list of real-time billionaires, Lemann is the 107th richest person in the world.
Conclusion
The world economy is forecasted to have many fluctuations and not be able to recover quickly. Many major economies still face risks such as slow GDP growth, inflation, unemployment, bad debt... However, The developed contries like US, China and Germany are still the leading countries in the world in terms of billions living.
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