The world has at least 58 million millionaires (in US dollars), accounting for 1.5 percent of the global adult population, according to the UBS Global Wealth Report 2024, which sampled 56 markets accounting for 92 percent of global wealth.
Thus, according to foreign media, the Telegraph reports, the United States has the largest number of millionaires, with about 21.95 million individuals who have wealth in seven figures or more.
China comes in second with about 6.01 million millionaires, followed by the United Kingdom (3.06 million), France (2.87 million) and Japan (2.83 million).
UBS defines wealth as the value of financial assets and real assets minus debts held by a household.
Global wealth (in dollars) rose 4.2 percent in 2023 after a 3 percent decline in 2022, according to UBS.
Meanwhile, it is pointed out that by 2028, the UK is expected to lose most of its millionaires – nearly one in six of its millionaires will lose that status.
The Netherlands is another country that will lose 4 percent of its millionaires by 2028.
How is wealth distributed globally?
Almost half of the world's wealth, 47.5 percent or $213 trillion, is held by just 1.5 percent of the global adult population, according to the Global Wealth Report.
These are households that hold more than $1 million.
In contrast, those with less than $10,000 in wealth own just 0.5 percent ($2.4 trillion) of global wealth, but make up 39.5 percent of the world's adults.
Households with a net worth between $10,000 and $100,000, representing 42.7 percent of adults, account for 12.6 percent of global wealth, or $56.2 trillion.
Fastest Growing Millionaires (2000-23)
In terms of wealth per adult, the world's population has made significant progress since the turn of the millennium.
The percentage of adults whose wealth exceeds $1 million tripled from 0.5 percent to 1.5 percent.
Since 2000, Qatar had the largest increase in the number of millionaires, rising from 46 to 26,163.
China had the second largest increase, from 39,000 to 6,013,282 millionaires, followed by Kazakhstan (918 to 44,307).
UBS said over the 15 years it has published its report, the Asia Pacific region has seen the largest increase in wealth, almost 177 percent, followed by the Americas at nearly 146 percent, while Europe, the Middle East and Africa (EMEA ) increased only 44 percent.
Most millionaires
The US has 38 percent of the world's millionaires, Western Europe 28 percent and China 10 percent.
By country, in percentage terms, Switzerland has the highest percentage of millionaires, with 12 out of every 100 people having a fortune of more than $1 million.
This is followed by Hong Kong, where eight in every 100 people are millionaires, Australia (seven in 100), the Netherlands (seven in 100) and the US (six in 100). /Telegraph/
