{"id":1450550,"date":"2024-01-14T02:35:00","date_gmt":"2024-01-14T07:35:00","guid":{"rendered":"https:\/\/bugaluu.com\/news\/?p=1450550"},"modified":"2024-01-14T02:35:00","modified_gmt":"2024-01-14T07:35:00","slug":"where-do-the-worlds-wealthiest-people-live","status":"publish","type":"post","link":"https:\/\/bugaluu.com\/news\/where-do-the-worlds-wealthiest-people-live\/1450550\/","title":{"rendered":"Where Do The World’s Wealthiest People Live?"},"content":{"rendered":"

Where Do The World’s Wealthiest People Live?<\/span><\/p>\n

\n

In 2022,\u00a0global household wealth<\/a>\u00a0stood at $454 trillion, of which half was held by millionaires.<\/strong><\/p>\n

But where do the wealthiest people of the world live?<\/p>\n

From\u00a0UBS<\/strong>\u00a0and\u00a0Credit Suisse\u2019s<\/strong>\u00a0comprehensive\u00a0Global Wealth Report 2023<\/a>, Visual Capitalist’s Marcus Lu <\/a>visualizes the world\u2019s millionaire population by country.<\/p>\n

<\/a><\/p>\n

Their\u00a0databook<\/a>\u00a0details the sources they used, including household balance sheet data from the World Bank, the World Income Inequality Database, surveys, tax data, and Forbes\u2019 findings.<\/p>\n

UBS defines millionaires as individuals whose total wealth (including financial and non-financial assets, minus household debt) is at or above $1 million, using \u201csmoothed exchange rates.\u201d These are 2021 average currency exchange rates with the U.S. dollar, adjusted for inflation differences between the U.S. and concerned country, but\u00a0not adjusted<\/strong>\u00a0for U.S. inflation between 2021 and 2022.<\/p>\n

\u2139\ufe0f \u201cMillion\u201d denoting just the number and not money has been shortened to \u2018M\u2019 in this article to avoid confusion when talking about millions of millionaires.<\/p>\n

With information current up to 2022, the world has almost 60M millionaires, of which 42% reside in North America.<\/p>\n

<\/a><\/p>\n

Note: UBS separates China and India from their Asia-Pacific region for better clarity<\/em><\/p>\n

Within that statistic is an obvious heavyweight, and we look through the per-country millionaire population in the next section.<\/p>\n

Ranked: Countries By Number of Millionaires<\/h2>\n

The\u00a0U.S.<\/strong>\u00a0is home to nearly 23M millionaires, 40% of the total millionaire population in the world. Six American cities feature in the\u00a0world\u2019s wealthiest cities<\/a>, led by New York City, home to 340,000 millionaires.<\/p>\n

As it happens, this quantity is actually lower than the 24M American millionaires in 2021, as average wealth in the category fell due to a decline in the value of financial assets.<\/p>\n

<\/a><\/p>\n

The world\u2019s second-largest economy,\u00a0China<\/strong>, is also home to the second-highest number of wealthy individuals, at 6M, about 10% of the total millionaire population. The number of Chinese residents with more than $1 million has grown rapidly since 2012, especially in economic hotspots like Hangzhou and Shenzhen.<\/p>\n

At third and fourth,\u00a0France<\/strong>\u00a0and\u00a0Japan<\/strong>\u00a0essentially have the same number of millionaires (2.8M) as do\u00a0Germany<\/strong>\u00a0and the\u00a0UK<\/strong>\u00a0who round out the top six with 2.6M millionaires each.<\/p>\n

The top 10 countries with the most millionaires are the\u00a010 largest economies<\/a>\u00a0in the world, with the exception of\u00a0India<\/strong>\u00a0(ranked 14th) and\u00a0Brazil<\/strong>, which is outside the top millionaire residents ranks, but grew its millionaire population by 122,000 between 2021 and 2022.<\/p>\n

Within this data however, UBS differentiates between the various types of millionaires.<\/p>\n

<\/a><\/p>\n

Note: Percentages may not sum to 100 due to rounding.<\/em><\/p>\n

Of the last category of individuals with more than $10 million, 2.5M have assets in the $10\u201350 million range, leaving 243,000\u00a0ultra-high-net-worth<\/strong>\u00a0individuals with a net worth above $50 million. This ultra-high-net-worth category has grown four times since 2008.<\/p>\n

UBS believes that by 2027, the world will have over 85M millionaires. This is 26M more than today, and 71M more from the year 2000.<\/p>\n<\/div>\n

Tyler Durden<\/a><\/span>
\nSat, 01\/13\/2024 – 21:35<\/span><\/p>\n

\u200bRead More<\/a>\u00a0<\/p>\n

\u00a0<\/p>\n","protected":false},"excerpt":{"rendered":"

Where Do The World’s Wealthiest People Live? In 2022,\u00a0global household wealth\u00a0stood at $454 trillion, of which half was held by millionaires. But where do the…<\/p>\n","protected":false},"author":0,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_feature_clip_id":0,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_post_was_ever_published":false},"categories":[1],"tags":[],"class_list":["post-1450550","post","type-post","status-publish","format-standard","hentry","category-news","wpcat-1-id"],"jetpack_sharing_enabled":true,"jetpack_shortlink":"https:\/\/wp.me\/pbimBl-65lY","jetpack_featured_media_url":"","_links":{"self":[{"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/posts\/1450550","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/comments?post=1450550"}],"version-history":[{"count":0,"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/posts\/1450550\/revisions"}],"wp:attachment":[{"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/media?parent=1450550"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/categories?post=1450550"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/tags?post=1450550"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}