Top 5 Countries With The Most Millionaires In The World Today
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| Top 5 Countries With The Most Millionaires In The World Today. Photo KnowInsiders |
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The ranks of the global “ultra high net worth” (UHNW) individuals swelled by 46,000 last year to a record 218,200 as the world’s richest people benefited from “almost an explosion of wealth” during the recovery from the pandemic, The Guardian reported.
The number of UHNW people – those with assets of more than $50m (£43.7m) – jumped in 2021 as the super-rich benefited from soaring house prices and booming stock markets, according to a report by investment bank Credit Suisse. The number of people in the UHNW bracket has increased by more than 50% over the past two years.
The huge increase in wealth of the richest 0.004% of the world’s adult population comes as billions of low- and middle-income people – many of whom saw their savings wiped out during the pandemic – struggle to cope with soaring food and energy prices.
| Key findings of the report: The number of US dollar millionaires increased by 5.2 million during 2021 to a total of 62.5 million – just under the 67 million population of the UK. More than a third of the millionaires live in the US, which is home to 24.5 million millionaires, or 39% of the world’s total. |
Top 5 Countries With The Most Millionaires In The World Today
1.US
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The number of millionaires in the U.S. can fluctuate on a daily basis as investments and property values go up and down. But over time, the number of millionaires tends to increase.
The number of US millionaires increased by 2.5 million – almost half of all new millionaires minted across the world. This is the largest increase in millionaire numbers recorded for any country in any year this century and reinforces the rapid rise in millionaire numbers seen in the US since 2016.
2.China
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According to Credit Suisse estimates, the number of dollar-millionaires residing in China totaled 5.3 million individuals, ranking second after the United States in the world. Although China's economic growth slowed down considerably over recent years, the number of millionaires still increased constantly. However, considering the large size of China's population, the share of millionaires in the whole population is still quite low, especially when compared with the United States and other developed countries.
3.Japan
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It might surprise you that Japan hosts the thirs largest number of millionaires. According to some reports, there are over 3.39 millionaires. Japan is often known as the technology capital of the world. They have created many millionaires by investing in automotive and electronics technology.
4.UK
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The number of millionaires in Britain surged ahead of those in France and Germany last year as a property boom and rebounding stock markets sent wealth levels surging.
The UK is host to 2.85m people with a net wealth of more than $1m (£877,000), according to Credit Suisse’s annual Global Wealth Report, putting the country behind only US, China and Japan.
That is up by 266,000 people compared with 2020, and reflects rapid growth in stock markets which took a battering in the pandemic and so had more room to “catch up” last year, pushing up wealth in the UK more quickly than that in some similar countries.
5.France
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According to the Observatoire des Inégalités (an independent organization specializing in studying inequalities), which on June 1, 2022, two years after the first edition, published its new report on "The Rich in France," France has 4.5 million of them, corresponding to 7.1% of the population.
"The affluent public is rarely studied," said Louis Maurin, founder and leader of this association. "There is a poverty line, with indicators of material deprivation: Why doesn't INSEE publish an affluence or wealth threshold with indicators of privileged living conditions, as exists in Germany?" The Observatoire des Inégalités has therefore created its own income threshold, at twice the median wage, or 3,673 euros per month (including benefits, and with taxes deducted) for a single adult, 5,511 euros for two adults and 7,713 euros for a family with two children under 14 years of age, according to its 2022 scale based on 2019 income.
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