Top 15 Countries Where The Wealthiest People In The World Live; Check Out India's Ranking

In 2023, the global finance world surprised investors with unexpected success. Even though rules about money were getting stricter and the interest rates on loans were going up, the stock market did really well. One big reason for this success was the excitement about artificial intelligence.

This success story not only showed how rich people were making even more money but also saw a lot more people becoming Ultra High Net Worth Individuals (UHNWIs) all around the world.

Now, let's go on a journey to find out where these wealthy individuals were living by the end of 2023. These rich people, who have more than $30 million, are who we're interested in. The data we have collected from Knight Frank Wealth Report 2024.

Globe | Photo: Unsplash

But before we start, it's important to know that some countries known for having lots of rich people, like Belgium, Saudi Arabia, the UAE, and Russia, aren't included in our journey because there weren't any specific numbers about them in the report.

United States: Where Richness Reigns

At the top of the list is the United States, where a whopping 225,000 UHNWIs call home. That's more than double the number in China, its closest competitor. The U.S. is home to more than a third of the world's richest people, making it the undeniable capital of wealth.

China: A Growing Power in Wealth

China comes next, with a big number of 98,551 UHNWIs, marking a 3.3% increase from the year before. Even though it hasn't beaten the U.S. yet, China's wealth is still very impressive and has a big influence on the world stage.

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Let's take a closer look at the top 15 countries reigning over the domain of wealth:

1. United States: 225,077 UHNWIs, with a year-on-year growth of 7.9%, constituting 35.9% of the global UHNWI population.
2. China: 98,551 UHNWIs, experiencing a modest growth of 3.3%, representing 15.7% of the world's UHNWIs.
3. Germany: 29,021 UHNWIs, with a subtle growth of 1.1%, capturing 4.6% of the global UHNWI population.
4. Canada: 27,928 UHNWIs, witnessing a 2.0% growth, accounting for 4.5% of the world's UHNWIs.
5. France: 24,941 UHNWIs, showing a marginal growth of 0.2%, constituting 4.0% of the global UHNWI population.
6. United Kingdom: 23,072 UHNWIs, experiencing a growth of 3.1%, representing 3.7% of the world's UHNWIs.
7. Japan: 21,710 UHNWIs, with a slight growth of 0.3%, capturing 3.5% of the global UHNWI population.
8. Italy: 15,952 UHNWIs, boasting a growth of 3.8%, accounting for 2.5% of the world's UHNWIs.
9. Australia: 15,347 UHNWIs, witnessing a 2.9% growth, representing 2.4% of the global UHNWI population.
10. Switzerland: 14,734 UHNWIs, marking a significant growth of 5.2%, constituting 2.4% of the world's UHNWIs.
11. India: 13,263 UHNWIs, marking a significant growth of 6.1%, constituting 2.1% of the world's UHNWIs.
12. Spain: 10,149 UHNWIs, marking a significant growth of 1.7%, constituting 1.6% of the world's UHNWIs.
13. Netherlands: 8,390 UHNWIs, marking a significant growth of 0.2%, constituting 1.3% of the world's UHNWIs.
14. Taiwan: 7,640 UHNWIs, marking a growth of -0.3%, constituting 1.2% of the world's UHNWIs.
15. South Korea: 7,310 UHNWIs, marking a significant growth of 5.6%, constituting 1.2% of the world's UHNWIs.

(Source:?Knight Frank Wealth Report 2024)

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