The United States has the largest amount of millionaires in the world. In fact, there are more millionaires than ever in the United States. In 2016, there were 9.4 million individuals with net worth between $1 million and $5 million, 1.3 million individuals with net worth between $5 million and $25 million, and 156,000 households with more than $25 million in net worth.
Millionaires, or “high net worth individuals (HNWIs),” have been able to work with wealth managers to maximize their returns. HNWI individuals are “defined as those having investable assets of US$1 million or more, excluding primary residence, collectables, consumables and consumer durables,”.
Many millionaires in the US barely meet the million dollar threshold. However, worldwide about 90 percent of millionaires fell in the $1 million to $5 million range. 1 percent had $30 million or more in investable assets. 9 percent make up that range in between.
The millionaires in the U.S. — combined with Japan, Germany and China — make up 61.1 percent of the global number of these high net worth individuals.
There are 1,542 billionaires in the world, according to a new report by UBS.
More than 560 billionaires live in the US — the most of any country — and they control the most wealth.
According to a new report from Switzerland-based bank UBS, the US is home to the most billionaires — and billionaire wealth — of any country in the world. China and India are close behind.
If these trends continue, it will take only four years for the total wealth of Asia's billionaires to overtake US billionaires, according to UBS. But for now, the US maintains the world's largest concentration of billionaire wealth. A total of 563 American billionaires control $2.8 trillion, up from $2.4 trillion last year.
Keep reading to see the top 14 countries with the most billionaires and how many live there.
Countries Ranked By Amount of Billionaires
14. Singapore: 21 billionaires
13. Spain: 25 billionaires
12. Turkey: 29 billionaires
11. Japan: 33 billionaires
10. Switzerland: 35 billionaires
9. France: 39 billionaires
8. Italy: 42 billionaires
7. United Kingdom: 55 billionaires
6. Hong Kong: 69 billionaires
5. Russia: 96 billionaires
4. India: 100 billionaires
3. Germany: 117 billionaires
2. China: 318 billionaires
1. United States: 563 billionaires