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The 18 countries with the most millionaires, ranked
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Credit Suisse just released its annual Global Wealth
Report, revealing which countries the most millionaires call
home.
The US consistently tops the list. There are almost 47
million people in the world in the millionaire club, and roughly
40% of them reside in the US.
See the ranked list of countries with the highest number of
millionaires, coupled with the country's population and median
wealth per person for reference.
Minting a million-dollar fortune isn't the remarkable feat it
used to be.
It remains a marker of immense wealth, but the club is growing
ever more crowded, with nearly 47 million people across the globe
now laying claim to fortunes in excess of $1 million, according
to estimates by Credit Suisse in its
most recent Global Wealth Databook.
The report shows that US alone claims 18.6 million adults with a
net worth above $1 million - that's nearly 40% of all the world's
millionaires and more than the next eight countries combined. In
2018, the
US also welcomed 675,000 newcomers to the millionaire club,
which accounts for more than half the global total of new
millionaires. Notably, however, China, the country with the
second-highest millionaire count, surpassed the US to become the
country with the most people in the top 10% of global wealth
distribution.
The millionaire population isn't necessarily an indicator of
overall wealth within a country, though. Despite having the most
millionaires by a gaping margin, the report indicates that the
median wealth for adults in the US is $65,904. The median wealth
for adults in China is $20,942. Of the 18 countries with more
than 300,000 millionaires, that's a lower median wealth figure
than all but India ($3,042).
Below, Business Insider has ranked the 18 countries with the most
millionaires - that's all fortunes above $1 million, including
the billionaires - based on
Credit Suisse's annual wealth report. We've also included the
country's population and median wealth for comparison purposes.
The countries are listed in ascending order of number of
millionaires.
18. Austria
Number of millionaires: 313,000
Adult population: 7.09 million
Median wealth per adult: $94,070
17. Sweden
Number of millionaires: 374,000
Adult population: 7.72 million
Median wealth per adult: $41,582
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16. Hong Kong SAR
Number of millionaires: 516,000
Adult population: 6.27 million
Median wealth per adult: $146,887
15. Taiwan
Number of millionaires: 528,000
Adult population: 19.3 million
Median wealth per adult: $70,191
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14. South Korea
Number of millionaires: 741,000
Adult population: 42 million
Median wealth per adult: $72,198
13. India
Number of millionaires: 759,000
Adult population: 866 million
Median wealth per adult: $3,042
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12. Switzerland
Number of millionaires: 810,000
Adult population: 7 million
Median wealth per adult: $227,891
11. The Netherlands
Number of millionaires: 832,000
Adult population: 13.33 million
Median wealth per adult: $31,057
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10. Spain
Number of millionaires: 979,000
Adult population: 37.45 million
Median wealth per adult: $95,360
9. Australia
Number of millionaires: 1,180,000
Adult population: 19 million
Median wealth per adult: $181,361
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8. Canada
Number of millionaires: 1,322,000
Adult population: 29 million
Median wealth per adult: $107,004
7. Italy
Number of millionaires: 1,496,000
Adult population: 48.5 million
Median wealth per adult: $91,889
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6. France
Number of millionaires: 2,071,000
Adult population: 49.72 million
Median wealth per adult: $101,942
5. Germany
Number of millionaires: 2,187,000
Adult population: 68 million
Median wealth per adult: $35,313
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4. United Kingdom
Number of millionaires: 2,460,000
Adult population: 51 million
Median wealth per adult: $97,452
3. Japan
Number of millionaires: 3,025,000
Adult population: 105 million
Median wealth per adult: $110,408
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2. China
Number of millionaires: 4,447,000
Adult population: 1.09 billion
Median wealth per adult: $20,942
1. United States
Number of millionaires: 18,614,000
Adult population: 245 million
Median wealth per adult: $65,904
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