The United States is the country with the most billionaires and millionaires followed by China. The number of billionaires in the U.S stood at 735 according to Forbes while the number of millionaires stood at 24,480,110 according to a Credit Suisse report as of 2022. China follows closely with 539 billionaires and 6,190,394 millionaires.
In this article, we are going to focus on some countries with most billionaires and millionaires.
Which Country Has the Most Billionaires?
The following is a list of top 15 countries with the highest number of billionaires according to Forbes as of March 2022.
|Position||Country||Number of Billionaires|
How Many Billionaires are in the United States?
There are 735 billionaires in the United States. The number of billionaires in the U.S represents 26% of the world’s billionaires. According to Forbes' annual world billionaires, there are 2,668 billionaires in the world. Their total net worth stands at $12.7 trillion.
The U.S leads in the list of the world’s billionaires like Elon Musk with a net worth of $187.9 billion, followed by Jeff Bezos with a net worth of $125.1 billion of April 2023.
California has the highest number of billionaires in the U.S. It is home to 186 billionaires. Some of the billionaires living in California include Mark Zuckerberg, Larry Page, and Sergey Brin.
How Many Billionaires in the USA by State?
The following are the number of billionaires in the U.S by the state they live in:
|Rank||State||Number of Billionaires 2021|
How Many Billionaires are in Australia?
As of 2019, there were 37 billionaires in Australia. This is according to Forbes Australia’s richest people. The number of billionaires in Australia is expected to rise to 41 by 2024. In 2021, residential property prices increased by 23.7%. On the other hand, Australian Securities Exchange, on the other hand, went down by 10%. Consequently, shares have not been performing well.
Analysts predict that the Russia-Ukraine war and high inflation will negatively affect wealth growth in Australia. However, it is expected that global wealth will increase by 2026. On the other hand, the number of millionaires is also expected to increase to 87 million by 2026.
Which Country Has the Most Millionaires?
Which country has the most millionaires 2022? The United States. The following is a list of top 15 countries with the highest number of millionaires according to Credit Suisse as of 2022.
|Position||Country||Number of Millionaires||Global Share|
How Many Millionaires are There in the United States?
Global Wealth report showed that there were 24,480,110 millionaires in the U.S as of 2022. The number of millionaires in the U.S represents 1% of the U.S population. The average net worth of an adult American is $79,952, an increase of 6% from the previous year. There are 56.1 millionaires in the world. As such, the number of millionaires in the U.S represents 39% of millionaires globally.
There was a tremendous increase in the number of millionaires in the U.S between 2020 and 2021. The huge increase in the number of millionaires was attributed to an increase in stock prices and housing prices.
Some of the states with the highest number of millionaires in the U.S include California, Texas, New York, and Florida.
How Many Millionaires are in Australia?
According to a report by Credit Suisse, the number of millionaires in Australia stood at 2.18 million in 2021. This was an increase of 400,000 from the previous year. Australia’s global share of millionaires stood at 3.2%. The number of millionaires in Australia is expected to keep on rising every year.
Australia stood at position 7 in the number of millionaires global ranking. Some of the countries that topped with the highest number of millionaires include the United States, China, Japan, the United Kingdom, France, and Germany.
Sydney happens to be the city with the highest number of millionaires in Australia. Gina Rinehart is the richest person and she has amassed her wealth by investing in mining. The top 1% of Australians earn an average of $438,100 every year while the average person in Australia earns $62,400 every year.
Also read: Cheapest places to live in Australia.
Credit Suisse anticipates that the number of millionaires could increase to 2.94 million by 2026. This would represent a 35% increase.
However, of concern is wealth inequality in Australia. Although there are many millionaires in the country, there are many people living in extreme poverty in Australia. Millions of people living in extreme poverty in Australia due to the effects of the Russian-Ukraine war, high inflation, and the effects of Covid-19.
What Percentage of Billionaires are Self-Made?
According to Statista.com, 60.08% of billionaires are self-made. Self-made means they became billionaires through their own means without inheritance. A majority of billionaires have invested in high-net-worth companies.
Besides billionaires, the Wealth Tax Report also showed that 67.7% of millionaires are self-made. A majority of millionaires have invested in stock options while others are in entrepreneurship.
Wealthiest Countries Per Adult in the World
The following are the top 10 wealthiest countries based on median wealth per adult in Australia. The figure is calculated as the value of financial assets plus real estate assets owned by households, minus their debts.
|New Zealand||$345, 375|
|Hong Kong||$302, 244|
|United Kingdom||$211, 397|
Summary: What Country Has the Most Billionaires and Millionaires?
The above is a list of the top 15 countries with the highest number of billionaires and millionaires. The United States is the leading country with most billionaires in the world. China is one of the countries with the most billionaires in Asia. In terms of the richest countries, Australia is the world’s richest country according to a Credit Suisse report.