The Global Millionaire Population
Table of Contents
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According to Credit Suisse, the century began with 13.9 million millionaires worldwide, only 0.37 percent of the adult population. Millionaires collectively owned to 158.3 trillion (44 percent of the global total).
Millionaire population, by country
There are now 47 million millionaires spread throughout the globe, but the U.S. is home to the enormous majority of them, with about 19 million millionaires. That’s a colossal 41 percent of the world’s total. That’s more than four times as many as second-place China.
The infographic below shows how many millionaires there are in every country.
Top 25 Countries Where the Most Millionaires Live
- U.S. – 18,614 thousand
- China – 4,447 thousand
- Japan – 3,025 thousand
- United Kingdom – 2,460 thousand
- Germany – 2,187 thousand
- France – 2,071 thousand
- Italy – 1,496 thousand
- Canada – 1,322 thousand
- Australia – 1,180 thousand
- Spain – 979 thousand
- Netherlands – 810 thousand
- Switzerland – 810 thousand
- India – 759 thousand
- South Korea – 741 thousand
- Taiwan (Chinese Taipei) – 528 thousand
- Hong Kong SAR – 516 thousand
- Sweden – 374 thousand
- Austria – 313 thousand
- Belgium – 279 thousand
- Brazil – 259 thousand
- Russia – 246 thousand
- Denmark – 237 thousand
- Singapore – 207 thousand
- New Zealand – 185 thousand
- Mexico – 173 thousand
But which nations have the largest proportion of millionaires relative to their populations?
The nations with the densest millionaire populations
The map below shows number of millionaires per 1,000 people. The United States and Switzerland will be the undisputed leaders in terms of the number of millionaires per 1000 people.
Millionaire population, by city
The infographic below depicts the millionaire population by city (Cities with >10 k millionaires, according to the Knight Frank report).
London Is still a preferred destination for the world’s wealthiest people. There are over 350K millionaires in London and 4,750 people with a net worth of $30M+.
The United States Is home to a staggering 4.3 million millionaires, many of whom live In New York, Los Angeles, and the Bay Area.
Germany’s millionaires prefer Munich and Frankfurt over the nation’s capital.
Istanbul is forecasted to experience a 22% drop in its millionaire population over the next decade. If political Instability continues, that number could increase.
Moscow has over 68K millionaire residents.
Top cities in North America (number of millionaires)
1. New York City, USA – 339,200
2. Bay Area, USA – 180,300
3. Los Angeles, USA – 173,300
4. Toronto, Canada – 109,300
5. Miami, USA – 31,600
6. Washington D.C., USA – 31,200
7. Vancouver, Canada – 31,100
Top cities in Latin America (number of millionaires)
1. Mexico City, Mexico – 86,700
2. São Paulo, Brazil – 64,500
3. Rio de Janeiro, Brazil – 35,300
4. Buenos Aires, Argentina – 15,400
5. Bogota, Colombia – 14,900
6. Santiago, Chile- 10,800
Top cities in Europe (number of millionaires)
1. London, UK – 357,200
2. Frankfurt, Germany – 128,300
3. Paris, France – 110,900
4. Zurich, Switzerland – 109,200
5. Geneva, Switzerland – 104,300
6. Munich, Germany – 78,900
7. Moscow, Russia – 68,200
8. Rome, Italy – 64,300
9. Amsterdam, Netherlands – 42,600
10. Brussels, Belgium – 34,700
Top cities in the Middle East (number of millionaires)
1. Dubai, UAE – 50,400
2. Tel Aviv, Israel – 35,200
3. Istanbul, Turkey – 27,300
4. Doha, Qatar – 25,800
5. Abu Dhabi, UAE – 17,100
6. Riyadh, Saudi Arabia – 16,200
7. Tehran, Iran – 14,000
8. Jerusalem, Israel – 13,100
Top cities in Asia (number of millionaires)
1. Tokyo, Japan – 279,800
2. Hong Kong, Hong Kong – 227,900
3. Singapore, Singapore – 217,300
4. Beijing, China – 122,100
5. Osaka, Japan – 117,700
6. Shanghai, China – 117,600
7. Seoul, South Korea – 108,100
8. Taipei, Taiwan – 76,700
9. Mumbai, India – 46,100
10. Shenzhen, China – 31,400
Top cities in Oceania (number of millionaires)
1. Sydney, Australia – 106,800
2. Melbourne, Australia – 74,800
3. Auckland, New Zealand – 25,600
But the number of millionaires does not remain constant. Many are moving to a place where their money is safer.
The global migration of millionaires
The wealth exodus from China continues. Australia and the United States see big gains.
The United States welcomed 10,000 High net worth individuals (persons with wealth over $1 million) in 2018. For the fourth year in a row, Australia beat out the United States as the top destination for migrating High net worth individuals (+12,000). Though China is seeing a lot of wealth migration, the country is still creating more millionaires than it’s losing.
Top countries by High net worth individuals outflows
| Country | Net Outflow of High net worth individuals (2018) | % of High net worth individuals lost |
|---|---|---|
| China | 15000 | 0.02 |
| Russia | 7000 | 0.06 |
| India | 5000 | 0.02 |
| Turkey | 4000 | 0.1 |
| France | 3000 | 0.01 |
| United Kingdom | 3000 | 0 |
| Brazil | 2000 | 0.01 |
| Saudi Arabia | 1000 | 0.02 |
| Indonesia | 1000 | 0.02 |
Top countries by High net worth individuals inflows
| Country | Net Inflow of High net worth individuals (2018) | % of High net worth individuals Gained |
|---|---|---|
| Australia | 12000 | 0.03 |
| United States | 10000 | 0 |
| Canada | 4000 | 0.01 |
| Switzerland | 3000 | 0.01 |
| United Arab Emerates | 2000 | 0.02 |
| Caribbean | 2000 | 0.03 |
| New Zealand | 1000 | 0.01 |
| Singapore | 1000 | 0 |
| Israel | 1000 | 0.01 |
| Portugal | 1000 | 0.02 |
| Greece | 1000 | 0.02 |
| Spain | 1000 | 0.01 |
