The 18 countries with the most millionaires, ranked

China, the country with the second-most millionaires in the world, has the most people in the top 10% of global wealth distribution.

caption
China, the country with the second-most millionaires in the world, has the most people in the top 10% of global wealth distribution.
source
Sean Pavone/Shutterstock

  • Credit Suisse just released its annual Global Wealth Report, revealing which countries the most millionaires call home.
  • The US consistently tops the list. There are almost 47 million people in the world in the millionaire club, and roughly 40% of them reside in the US.
  • See the ranked list of countries with the highest number of millionaires, coupled with the country’s population and median wealth per person for reference.
  • Visit Business Insider’s homepage for more stories.

Minting a million-dollar fortune isn’t the remarkable feat it used to be.

It remains a marker of immense wealth, but the club is growing ever more crowded, with nearly 47 million people across the globe now laying claim to fortunes in excess of $1 million, according to estimates by Credit Suisse in its most recent Global Wealth Databook.

The report shows that US alone claims 18.6 million adults with a net worth above $1 million – that’s nearly 40% of all the world’s millionaires and more than the next eight countries combined. In 2018, the US also welcomed 675,000 newcomers to the millionaire club, which accounts for more than half the global total of new millionaires. Notably, however, China, the country with the second-highest millionaire count, surpassed the US to become the country with the most people in the top 10% of global wealth distribution.

Read more: For the first time ever, there are more ultra-wealthy people in China than the US – and America’s growing wealth gap may be partially to blame

The millionaire population isn’t necessarily an indicator of overall wealth within a country, though. Despite having the most millionaires by a gaping margin, the report indicates that the median wealth for adults in the US is $65,904. The median wealth for adults in China is $20,942. Of the 18 countries with more than 300,000 millionaires, that’s a lower median wealth figure than all but India ($3,042).

Below, Business Insider has ranked the 18 countries with the most millionaires – that’s all fortunes above $1 million, including the billionaires – based on Credit Suisse’s annual wealth report. We’ve also included the country’s population and median wealth for comparison purposes. The countries are listed in ascending order of number of millionaires.


18. Austria

source
canadastock / Shutterstock

Number of millionaires: 313,000

Adult population: 7.09 million

Median wealth per adult: $94,070


17. Sweden

source
Thomas Fabian/Flickr

Number of millionaires: 374,000

Adult population: 7.72 million

Median wealth per adult: $41,582


16. Hong Kong SAR

source
EarnestTse/Shutterstock

Number of millionaires: 516,000

Adult population: 6.27 million

Median wealth per adult: $146,887


15. Taiwan

source
Shutterstock

Number of millionaires: 528,000

Adult population: 19.3 million

Median wealth per adult: $70,191


14. South Korea

source
Shutterstock

Number of millionaires: 741,000

Adult population: 42 million

Median wealth per adult: $72,198


13. India

source
Towering Goals/Shutterstock

Number of millionaires: 759,000

Adult population: 866 million

Median wealth per adult: $3,042


12. Switzerland

source
Shutterstock / Boris Stroujko

Number of millionaires: 810,000

Adult population: 7 million

Median wealth per adult: $227,891


11. The Netherlands

source
Mapics / Shutterstock

Number of millionaires: 832,000

Adult population: 13.33 million

Median wealth per adult: $31,057


10. Spain

source
Shutterstock/Iakov Filimonov

Number of millionaires: 979,000

Adult population: 37.45 million

Median wealth per adult: $95,360


9. Australia

source
Shutterstock

Number of millionaires: 1,180,000

Adult population: 19 million

Median wealth per adult: $181,361


8. Canada

source
Getty Images/Joanne Levesque

Number of millionaires: 1,322,000

Adult population: 29 million

Median wealth per adult: $107,004


7. Italy

source
TripAdvisor

Number of millionaires: 1,496,000

Adult population: 48.5 million

Median wealth per adult: $91,889


6. France

source
iStock/TomasSereda

Number of millionaires: 2,071,000

Adult population: 49.72 million

Median wealth per adult: $101,942


5. Germany

source
Shutterstock

Number of millionaires: 2,187,000

Adult population: 68 million

Median wealth per adult: $35,313


4. United Kingdom

source
Jeremy Reddington/Shutterstock

Number of millionaires: 2,460,000

Adult population: 51 million

Median wealth per adult: $97,452


3. Japan

source
Reuters/Kimimasa Mayama

Number of millionaires: 3,025,000

Adult population: 105 million

Median wealth per adult: $110,408


2. China

source
Flickr/tangi bertin

Number of millionaires: 4,447,000

Adult population: 1.09 billion

Median wealth per adult: $20,942


1. United States

source
Courtesy of TripAdvisor

Number of millionaires: 18,614,000

Adult population: 245 million

Median wealth per adult: $65,904