Hi, This is great guide about the How Many Millionaires In The World 2021. In this guide, we have researched thoroughly and have come up with a list of all countries that have highest millionaire density.
How Many Millionaires In The World 2021 | There are more than 4 million millionaires in the world as of 2013, and that number is expected to grow by 40% within the next five years alone – all the way up to 5.7 million millionaires! This is an extraordinary trend considering how so many experts and economists still think we’re headed for a major depression.
How Many Millionaires Are There in the World? – General Estimates
The global number of millionaires reached 56.1 million in 2021.
(Credit Suisse)
There are currently 56.08 thousand adult millionaires in the world, with a total net worth of $191.6 trillion. They make for 1.1% of the population.
The top three countries that have the most millionaires are the US (39.1%), China (9.4%), and Japan (6.6%).
(Credit Suisse)
These three countries have the highest number of millionaires on a global scale. In fourth place, there is Germany (5.3%), and the UK shares fifth place with France, as they each house 4.4% of the world’s millionaires.
72.5% of all millionaires are self-made.
(Statista)
Allegedly, only a small percentage of today’s millionaires inherited all their wealth – approximately 7.4%. Another 20.1% admitted the source of their wealth is a combination of inheritance and personal earnings, while the vast majority claim to have earned their wealth through income from work, real estate, investment, or by selling their business.
Brazil, India, and Russia had the biggest reduction in the number of millionaires in 2020.
(Credit Suisse)
These three countries lost the most millionaires in the world between 2019 and 2020. In addition, despite being second-best in terms of raw numbers, China has just one millionaire per 200 people, due to its high population density. The highest percentage of millionaires is in Switzerland (14.9%).
84% of millionaires have a college degree.
(Spectrem Group)
In terms of becoming a millionaire, having a college degree certainly pays off. However, pursuing further academic success doesn’t seem as prevalent: Only 30% of millionaires also have master’s degrees or PhDs.
Between 2020 and 2025, global wealth is projected to rise by 39%.
(Credit Suisse)
The percentage of millionaires in the world will also likely grow over the next five years, reaching 84 million people. Wealth per adult is also, in the same notion, projected to increase by 31%.
By 2025, the percentage of millionaires in China is expected to increase by 92.7%.
(Credit Suisse)
China is projected to have the highest growth in millionaire numbers in the next five years. Denmark is next in line for the highest projected growth, expected to rise by 82.4%. India is in third place in this category, with a projected rise of 81.8% by 2025.
The average age to make your first million is 50. It typically takes 32 years to get rich.
(Business Insider)
General wealth trends show that it took 38 years for more than 50% of millionaires to join this category. Only 4% of so-called self-made millionaires made this happen in less than 27 years. This means you can hardly expect to become a millionaire while you’re in your forties – 80% of millionaires didn’t become extremely wealthy before they turned 50.
5.2 million new millionaires appeared worldwide in 2020
(Credit Suisse)
The COVID-19 pandemic may have left millions of people jobless, but it made more millionaires, too. More than 1% of all adults worldwide became millionaires for the first time.
In 2019, 76% of all millionaires were married.
(Coldwell Banker Luxury)
While more than three-quarters of the top 1% are married, this ratio is lower for their younger subset. However, Millennials still fit the other markers of wealth pretty well: Just like most other millionaires, they typically have only one child, and the vast majority (80%) have single-family homes. Also, 93% of all millennial millionaires have an average net worth between $1 and $2.49 million, and they donate to charity more than millionaires of other ages.
The Number of Millionaires in the United States
Since most millionaires in the world currently call the US home, it might be interesting to look at what the stats say about American millionaires.
In 2019, 55% percent of American millionaires were men.
(The Quantum)
Against the boom of female-led businesses and similar initiatives, in 2019, the playing field wasn’t even. Still, it is a significant increase from 2014, when the men took about 87% percent of the millionaire space.
Only 11 out of the 56 richest women in America are self-made, according to millionaire statistics in 2020.
(Forbes)
The Forbes Billionaires List includes 56 women. However, most of their combined wealth of $452 billion is held by MacKenzie Scott and Alice Walton. Scott’s last name was Bezos prior to her divorce, whose settlement landed her on the list, and Walton is the heir to the Walmart fortune. The first ten all inherited their wealth from either their husband or family. Only two women on the Forbes list are women of color.
The average American feels that it takes $1.9 million to be considered wealthy in America.
(Schwab)
A thousand Americans gave their perspective on what it takes to be considered wealthy in 2021 in the US. They agreed that $624,000 is enough for comfortable living, $1.1 million is needed for financial happiness, and $1.9 million is needed to be considered wealthy. Unsurprisingly, these numbers are much smaller than the ones discovered in the same survey year before. In 2020, Americans said it takes $934,000 for comfort, and $1.75 million for financial happiness. The bar for “being wealthy” is also much lower in 2021 – in 2020, the desired amount was $2.6 million.
21.9 million individuals in the US were worth $1 million by the end of 2020.
(Credit Suisse)
Despite the global pandemic – or rather, because of it – the number of millionaires in the US grew. Currently, around 9% of adults in the US are millionaires. Therefore, if you live in the US, chances are you know at least one millionaire.
85% of US millionaires in 2020 were white.
(Forbes, Statista)
It is an unfortunate increase within a decade, as stats show that in 2013, 76% of millionaires were white/Caucasian. At the time, there were 8% Asian and Black millionaires, and Latino millionaires accounted for 7%.
How Many People Are Billionaires Globally?
Where there is the first million, there is often another, and if your luck keeps, you might even get to travel into space. But how common is that, really? Let’s check what the statistics say on the topic of billionaires.
In 2020, the world got eight new billionaires each week.
(Business Standard)
Despite the pandemic, in 2020, the list of the world’s billionaires expanded by eight spots each week. In 2020 alone, billionaires added the equivalent of Germany’s GDP to their wealth.
The number of billionaires exploded in 2021 to reach a new all-time high of 2,755.
(Forbes)
Forbes’ 35th Annual World’s Billionaires List of 2021 includes a record-high number of the world’s wealthiest people: 2,755. Altogether, these people are worth a staggering $13.1 trillion, which is $8 trillion more than the collective wealth of the previous year’s billionaires. One hundred and six members of the list are under 40 years of age, and two-thirds are self-made.
10% of the world’s billionaires live in just four Chinese cities.
(Forbes)
Beijing is currently lead in terms of the number of billionaires that call it home, while New York is in second place. Hong Kong, Moscow, and Shenzhen are next on the list. China has the most cities housing those with the top 1% net worth – Beijing, Shanghai, Shenzhen, and Hangzhou.
Elon Musk overpowered Jeff Bezos for the title of the richest man in the world in 2021.
(Forbes)
Elon Musk currently has a net worth of $203.4 billion, which is quite the jump from 2020. As late as December 2020, he was in third place with an estimated $141.4 billion. Jeff Bezos, formerly the richest man in the world, is now behind Musk with “just” $197.7 billion.
The billionaires’ fortune rose by 27% in 2020.
(BBC)
As mentioned, the number of billionaires in the world has risen to an all-time high of 2,755. Among the billionaires, the biggest winners were industrialists, as their wealth rose by 44% just in Q2 2020.
What country has the most billionaires?
The ten countries with the highest numbers of billionaires are:
- United States – 724
- China – 698
- India – 177
- Germany – 136
- Russia – 117
- Hong Kong – 71
- Brazil – 65
- Canada – 64
- United Kingdom – 56
- Italy – 51
Together, these countries have 2159 billionaires, about 78.4% of the global total. Of these countries, Hong Kong has the most billionaires per million people, with 8.83.
How many billionaires are there in the world?
According to Forbes’s 2021 list of billionaires, there are 2,755 billionaires worldwide. This is 660 higher than 2020’s number, with a record high of 493 new billionaires were added to the list. In addition, 86% of them are wealthier than a year ago.
The United States has the most billionaires, with 724, followed by China (including Hong Kong and Macao) with 698. These two countries account for over 50% of the world’s billionaires.
The top billionaire and world’s richest individual is Jeff Bezos, the founder of Amazon, worth $177 billion. Tesla CEO Elon Musk follows, worth $151 billion. Together, the world’s billionaires are worth $13.1 trillion, up from $8 trillion in 2020.
Here are the 10 countries with the highest number of billionaires:
- United States (614)
- China (388)
- Germany (107)
- India (102)
- Russia (99)
- Hong Kong (67)
- Brazil (45)
- United Kingdom (45)
- Canada (44)
- France (39)
Change In The Number Of Millionaires By Country
To no surprise, the United States has the highest number of millionaires in the world at roughly 22 million millionaires. Not only do we have the most millionaires in the world, but we also saw the largest change ever in the number of millionaires in 2020, an increase of 1.73 million.
22 million millionaires in the United States out of a population of 332 million is 6.6%. Then if you drill down into the cities, places like San Jose, Bridgeport, San Francisco, Washington, D.C., Napa, Boston, Princeton, Thousand Oaks, and Boulder all have millionaire populations of between 10% – 13.6%.
If you want to be a millionaire, you probably go where there are the most number of millionaires. Of course, going to retirement towns like Napa probably won’t help.
Conclusion
How Many Millionaires In The World 2021? “Affluent are the people who are rich with cash, assets, capital, possessions etc. The affluent class can also be defined as an elite or upper class of society consisting of the richest people who hold a high social status. There are several classifications indicating the ranks of society based on an individual’s net worth.”