12 countries with most number of millionaires and billionaires

LAHORE: The United States leads the world with 5,492,400 millionaires or people possessing a liquid investable wealth of US$ one million or more, besides being home to 9,850 centi-millionaires (US$100 million and plus) and 788 billionaires (US$ one billion or more).

In other words, America has more millionaires than the entire population of Ireland!

According to a July 3, 2024 exclusive report posted by a Vancouver (Canada)-based online publishing house “Visual Capitalist,” which acknowledges it has borrowed this data of 12 countries with most millionaires and billionaires from a renowned London-based British investment migration consultancy firm Messrs “Henley & Partners,” China is the next country with the most millionaires (862,400), 2,352 centi-millionaires and 305 billionaires in dollar terms, while despite ranking 11th in terms of millionaires, India has the world’s third-largest billionaire population (120). India has 326,400 millionaires and 1,044 centi-millionaires.

Having 417,000 followers on Facebook and over two million admirers on Twitter, the “Visual Capitalist,” report further reads: “Switzerland and Singapore are two countries that punch above their weight, helped by their status as offshore financial centers. With their tax benefits, asset protection, and privacy, they tend to attract wealthy individuals at a higher rate. For smaller countries, attracting this outside wealth can dramatically increase economic activity.”

Here follows the list of other countries having most millionaires and billionaires: Germany (806,100 millionaires, 1,075 centi-millionaires and 82 billionaires), Japan (754,800 millionaires, 748 centi-millionaires and 39 billionaires), United Kingdom (602,500 millionaires, 830 centi-millionaires and 75 billionaires), France (506,000 millionaires, 605 centi-millionaires and 55 billionaires), Switzerland (427,700 millionaires, 730 centi-millionaires and 40 billionaires), Australia (383,300 millionaires, 463 centi-millionaires and 48 billionaires), Canada (371,200 millionaires, 495 centi-millionaires and 52 billionaires), Italy (289,300 millionaires, 418 centi-millionaires and 38 billionaires) and Singapore (244,800 millionaires, 336 centi-millionaires and 30 billionaires).