Sunday, May 19, 2024
More

    Latest Posts

    Which Country has the Most Billionaires?

    Billionaires are a fascinating bunch of people. Unfortunately, being part of the ultra-rich is something most of us will never experience in our lifetimes, and that’s precisely what makes them and their lifestyle so intriguing.

    Some have built their businesses from the ground up, whereas others inherited a billion-dollar corporation empire from their family.

    In any case, they exist, and regardless of where their fortunes come from, a question many people want to know the answer to is how many billionaires come from a particular country. We often hear of famous billionaires from Western society, such as Elon Musk and Warren Buffet, but are there more members of the three comma club in other parts of the world?

    Well, let’s find out! We’ve compiled this guide based on research from international statistics experts World-meters.

    Which Country has the Most Billionaires?

    The United States has the most billionaires in the world, with 735 individuals earning $1,000,000,000 or more. In second place is China, with 539 billionaires. The U.S. and China combined are responsible for almost half of the billionaires worldwide.

    In third and fourth place are India and Germany, with 166 and 134 billionaires, respectively. Rounding out the top five is Russia, with 83 billionaires. At number six is Hong Kong, with 67 billionaires, followed closely by Canada, with 64. In seventh place is the only South American country on the list, Brazil, with 62 billionaires. Rounding out the top 10 are Italy and Taiwan, with 52 and 51 billionaires, respectively. The top 10 list can be found below.

    RankCountry/TerritoryRegionNumber of billionaires
     World 2,668
    1United StatesNorth America735
    2ChinaAsia539
    3IndiaAsia166
    4GermanyEurope134
    5RussiaEurope83
    6Hong KongAsia67
    7CanadaNorth America64
    8BrazilSouth America62
    9ItalyEurope52
    10TaiwanAsia51

    Source: Forbes

    1. United States

    Most of the world’s billionaires hail from the United States of America. In total, they have 735 billionaires, which is a nine-person increase from the previous year. The nation’s billionaires have a total net worth of $4.7 trillion, which is also up $300 billion from the previous year.

    Considering that the United States has a population of 327,167,434 – more than one billion people fewer than the second and third-placed countries on this list – it also has one of the highest number of billionaires per million people in the world.

    At the time of writing this, the richest person in the United States is business magnate and investor Elon Musk. Across his various business endeavors, namely Tesla and SpaceX, Elon has amassed a net worth of $187.3 billion.

    But he’s not the only American with a wealth of money in the bank. Eight of the top 10 richest people in the world are from the U.S., including big names in tech such as Jeff Bezos, Bill Gates, and Larry Ellison, which helps explains why the United States tops this list.

    2. China

    Mainland China is in second place with a total of 539 billionaires and a combined net worth of $1.96 trillion. Unlike the United States, China has seen a reduction in its total number of billionaires and total net worth, which is down from 626 and $500 billion, respectively. This is largely due to the constant lockdowns over the last three years, which have had a huge impact on the country’s economy.

    The richest man in the country is 68-year-old business tycoon Zhong Shanshan with a net worth of $68.7 billion. Most of this wealth has been acquired through his beverage company Nongfu Spring and the pharmaceutical company Beijing Wantai Biological Pharmacy Enterprise.

    3. India

    In third place – and the second country on this list from Asia – is India, with 166 billionaires, an increase of 26 from the previous year. The nation also had a $154 billion increase in net worth, now totaling $750 billion. This growth is expected to continue, with India being touted to grow to the third largest economy by the end of the decade – it’s currently sitting at fifth. This means that we may see considerably more billionaires from this country over the coming years.

    India’s richest person is Mukesh Ambani, with a net worth of $82.2 billion. His wealth has been amassed by being the chairman and managing director of India’s most valuable company, Reliance Industries. This has made him the richest person in Asia and the 11th richest person in the world.

    4. Germany

    The first nation to come from Europe is Germany, with 134 billionaires and a total net worth of $608 billion. Although both the number of billionaires and net worth are down from last year – 136 and $626 billion, respectively – the country still manages to maintain the fourth spot.

    With a net worth of $39.2 billion, Germany’s richest person is Dieter Schwarz – the owner of the retail group Schwarz-Gruppe which has supermarket chains Lidl and Kaufland under its corporate umbrella.

    5. Russia

    Russia rounds out the top five with 83 billionaires and a total net worth of $320 billion. Although this is a lot, the country has suffered a hefty blow over the past year. Russia has 34 fewer billionaires, which has resulted in a decrease of $264 billion in total net worth.

    This can be attributed mainly to the ongoing Russia-Ukrainian war, which has seen company stock prices and the value of the Russian Ruble plummet. However, due to the country’s abundance of natural resources, such as oil and gas, they’re still able to take fifth place on this billionaire list.

    Russia’s richest person is Andrey Melnichenko, a businessman who has made his money in the production of thermal coal and mineral fertilizers, resulting in a personal net worth of $27.7 billion.

    6. Hong Kong

    Hong Kong is sixth, with 67 billionaires and a total net worth of $383 billion. This is slightly down from last year when they had 71 billionaires and a total net worth of $448 billion.

    The title of the richest person in the country is constantly changing hands – almost on a daily basis – between two people, Li Ka-Shing and Robin Zeng. At the time of writing this, Li Ka-Shing holds the top spot with a net worth of $38.7 billion, while Robin Zeng is following close behind with a net worth of $38.1 billion.

    7. Canada

    The second country to hail from North America on this list is Canada. The country boasts 64 billionaires, which remains unchanged from the previous year. Still, their net worth has increased by $77 billion, resulting in a total net worth of $308 billion.

    The richest person in Canada is media magnate David Thomson with a net worth of $54 billion. Most of this wealth has been acquired through The Woodbridge Company. This private holding company is the majority shareholder of the media conglomerate Thomson Reuters.

    8. Brazil

    Brazil takes the eighth spot with 62 billionaires and a total net worth of $187 billion, both of which are down from the previous year – 65 and $212 billion, respectively.

    Jorge Paulo Lemann leads the country in wealth with a net worth of $15.7 billion. His riches were established during the mergers that created the current beverage powerhouse AB InBev. The beer and beverage industry is also where Brazil’s second and fourth richest person made their fortune, proving it to be a lucrative sector for the country’s rich.

    9. Italy

    Italy has 52 billionaires with a total net worth of $195 billion, placing it ninth on this billionaire list. Although the country has seen one more billionaire compared to the previous year, the total net worth has decreased by $10 billion.

    Italy’s richest person is Giovanni Ferrero, with a net worth of $35.8 billion, making him the 35th richest person in the world. His wealth was acquired after taking over the chocolate and confectionery multinational Ferrero SpA from his father.

    10. Taiwan

    Closing out the top 10 list is the small country of Taiwan, with a total of 51 billionaires, up from 47 the previous year. The nation’s wealthy have a total net worth of $151 billion which is a $35 billion increase.

    The country’s richest person is Zhang Congyuan, who has a net worth of $9.6 billion. Unlike some of the wealth on this list, Zhang’s riches were generated from the ground up with his shoe manufacturing business. Now, his clientele includes major brands such as Nike, Puma, Vans, and more.

    Which City has the Most Billionaires?

    The largest number of billionaires in the world live in New York, United States, with a total of 107. Although it’s not the capital, New York is the country’s economic hub and consistently attracts the rich and famous. At number two is Beijing which is home to 83 billionaires. With a total of 539 billionaires in the country, Beijing houses 15% of the country’s richest.

    In third place is Hong Kong, with 68 billionaire residents. You may be asking yourself, how does Hong Kong only have 67 billionaires but have 68 billionaire residents? That’s because residents also include people who simply live in a place without holding that nationality.

    London, United Kingdom, comes in at number four with 66 billionaire residents. London is the financial capital of Europe, and some even consider it to be the world’s financial capital. The metropolis is responsible for more than one-third of global foreign exchange trades, which is greater than the following three centers combined – New York, Hong Kong, and Singapore.

    Closing out the top five is Shanghai, China, with 61 billionaires. The city is one of the largest major cities in the world by population and is known as the economic hub and commercial center of the country, as its billionaire residents prove.

    The full top 10 list can be found below.

    RankCityCountry/TerritoryRegionNumber of billionaires
    1New YorkUnited StatesNorth America107
    2BeijingChinaAsia83
    3Hong KongHong KongAsia68
    4LondonUnited KingdomEurope66
    5ShanghaiChinaAsia61
    6ShenzhenChinaAsia59
    7MoscowRussiaEurope53
    8MumbaiIndiaAsia51
    9San FransiscoUnited StatesNorth America44
    10SeoulSouth KoreaAsia38

    Source: Forbes

    Final Thoughts

    The United States has the most billionaires in the world, with 735. In second place is China with 539 and then India at third with 166. In fourth and fifth place are European countries Germany and Russia, with 134 and 83 billionaires, respectively.

    While being from a particular country doesn’t guarantee that you can amass wealth – if that were the case, everyone in the U.S. or China would be millionaires and billionaires – it does indicate that perhaps these places are where you may find the most opportunities compared to other countries.

    Latest Posts

    Don't Miss

    Stay in touch

    To be updated with all the latest news, offers and special announcements.