These 15 countries are home to the most billionaires

Rich Person America

Fifteen countries dominate in billionaire
population and wealth.

That’s according to
Wealth-X’s 2020 Billionaire Census report
, which analyzed data
from Wealth-X’s global database of more than one million records of
the world’s richest people.

Three-fourths of the world’s billionaire population live in the
15 countries listed below. Collectively, the billionaires in these
countries are worth $7.6 trillion — that accounts for 80% of
total global billionaire wealth in 2019.

All countries, with the exception of the United Arab Emirates,
saw an increase in the number of billionaires and amount of
billionaire wealth in the past year. The United States dominates
with 28% of the world’s billionaires and 36% of total billionaire
wealth. 

Note that Hong Kong and Singapore also made Wealth-X’s list of
the top 15 cities with the most billionaires â€” Hong Kong is a
semi-autonomous, special administrative region of China, and
Singapore is an island city-state off southern Malaysia.

Take a look at which countries worldwide have the most
billionaires, ranked in ascending order.

SEE ALSO: The
top 15 cities with the most billionaires, ranked

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15. Singapore saw an uptick in billionaires over the past year.

Number of billionaires: 45

Total billionaire wealth: $87 billion

Singapore is one of the richest cities in the world: The total
private wealth of its residents amounts to $1 trillion,
reported Business Insider’s Katie Warren
. It’s also one of the
most expensive cities to live in worldwide.

14. Canada’s wealthy are getting richer faster than the rest of the
population.

Number of billionaires: 46

Total billionaire wealth: $96 billion

Ricardo Tranjan, senior researcher at the Canadian Centre for
Policy Alternatives (CCPA), ​told
CBC
that “the rich are really sprinting ahead” of average
Canadians. According
to a CCPA report
, the richest families are worth $3 billion on
average and own as much wealth as three Canadian provinces
combined.

13. The United Arab Emirates is the only country in the top 15 to
see a decline in its billionaire population over the past year.

Number of billionaires: 47

Total billionaire wealth: $163 billion

The UAE is also the 26th-largest wealth market (meaning total
wealth held) worldwide, according to “The
UAE 2018 Wealth Report.”
 Dubai,
which has a strong oil industry, is home to more than half of UAE’s
billionaires.

12. Brazil’s cumulative billionaire wealth increased by 5%.

Number of billionaires: 50

Total billionaire wealth: $162 billion


Brazil
‘s wealthy have become more discreet about their money in
recent years, reported
Joe Leahy for Financial Times
. Most of the country’s
billionaires live in
São Paulo
.

11. Italy’s billionaire population increased by nearly 13%.

Number of billionaires: 53

Total billionaire wealth: $157 billion

In addition to housing over 50 billionaires, Italy is home to
many
destinations frequented by the super rich
, including the Amalfi
coast, Portofino, Positano, Capri, Cinque Terre, Milan, and
Venice.

10. France’s wealth has been fueled in part by corporate success in
recent years.

Number of billionaires: 60

Total billionaire wealth: $219 billion

Many of Frances billionaires, like LVMH founder and CEO Bernard
Arnault, are wealthy from success in the global luxury and fashion
business, Hugh
Carnegy reported for Financial Times
.

9. Saudi Arabia’s wealth largely comes from its oil reserves.

Number of billionaires: 62

Total billionaire wealth: $152 billion

Saudi Arabia produces most of its wealth through the sale and
export of petroleum products, and is home to the most profitable
company in the world,
reported Steven John for Business Insider
.

8. India’s wealth highlights severe income inequality.

Number of billionaires: 87

Total billionaire wealth: $314 billion

As of 2017, India’s top 1% held 73% of the country’s wealth,

according to Business Today
, citing an Oxfam report.
Mumbai
has the largest concentration of billionaires in
India.

7. Hong Kong’s billionaire population expanded in a
financial-services dominated economy.

Number of billionaires: 96

Total billionaire wealth: $280 billion


Hong Kong
has some of the most expensive real estate in the
world, and the ultrawealthy live in multimillion-dollar mansions,

reported Business Insider’s Katie Warren
. The average price for
a home in Hong Kong was $1.28 million in the first quarter of 2018,
she wrote.

T5. The UK’s billionaires suffered financially from the effects of
Brexit.

Number of billionaires: 100

Total billionaire wealth: $217 billion

Though overall billionaire wealth in the UK increased slightly
in 2019, it recorded the weakest growth among the top 10 countries,

according to the report
, because of Brexit’s adverse effect on
economic activity.

T5. Switzerland attracts businesses because of its technological
innovation and favorable tax rates.

Number of billionaires: 100

Total billionaire wealth: $274 billion


According to Sean Mowbray of Culture Trip
, Switzerland’s wealth
is fueled by the country’s ability to innovate and turn raw
products into valuable items, like luxury chocolates or diamond
bracelets.

4. Russia saw an increase in wealth thanks to strong equity market
gains and policy easing.

Number of billionaires: 114

Total billionaire wealth: $390 billion

More than half of Russia’s billionaires — including the
country’s richest known billionaire, Leonid Mikhelson —
live in Moscow
.

3. Germany is Europe’s largest national economy, contributing to
individual wealth accumulation.

Number of billionaires: 153

Total billionaire wealth: $477 billion

“Germany’s rich are super-rich,” wrote Derek Scally for
The Irish Times
. Wealthy Germans tend not to flaunt their
money, but treat themselves occasionally, he reported.

2. China saw the strongest growth in billionaire population and
overall wealth.

Number of billionaires: 342

Total billionaire wealth: $1.1 trillion

In China, billionaires are
largely concentrated
in Shenzhen and Hangzhou.
According to the report
, the growth occurred in the middle of
an unhealthy climate characterized by the US-China trade war,
slowing emerging market volatility, and a “downturn in global
industrial and consumer demand.”

1. The United States is still the dominant billionaire country.

Number of billionaires: 788

Total billionaire wealth: $3.4 trillion


Billionaires in the United States
have a combined net worth
exceeding the total wealth among billionaires of the previous eight
highest-ranked countries combined. They account for 28% of the
world’s billionaires and 36% of global billionaire wealth.

New York City, San Francisco, and Los Angeles have the
highest concentration of billionaires
in the country.

Source: FS – All – Interesting – Lifestyle
These 15 countries are home to the most billionaires