How do billionaires see millionaires

Photo galleryMost of the millionaires live in these countries

The million today may have lost some of its radiance. But it is still a milestone when the bank account jumps into the seven-digit range for the first time - at least for currencies whose value is in the range of US dollars and euros. In some states these rich are the exception, in others they number in the millions. However, this can also be a sign of an unequal distribution of wealth in a society.

Credit Suisse researched which countries have the most dollar millionaires. The tenth edition of the “Global Wealth Report 2019” counted around 46.8 million millionaires worldwide in mid-2019. That corresponds exactly to the population of Spain. According to the Swiss financial institution, there were 1.1 million more millionaires than in mid-2018.

Credit Suisse names three factors on which the number of rich people in a country depends: size of the adult population (children are not included), average wealth, and the unequal distribution of wealth. The leader in the ranking was ahead in all three criteria. According to the information, the data comes primarily from the OECD, national central banks and state statistical authorities.

Most of the millionaires live in these ten countries.

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# 8 Canada

In Canada, however, the millionaires club has grown. 30,000 new members brought the total to 1,322,000. This means that around three percent of all millionaires lived in the North American country.

@Krista Purmale on Unsplash
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# 9 Australia

In most of the top 10 states, the number of the rich rose in 2019. However, Australia lost around a tenth. The country had 1,190,000 millionaires, 124,000 fewer than in mid-2018. That was the largest absolute decline in the top group.

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# 10 Switzerland

Switzerland will probably be able to celebrate its millionth millionaire in a few years. According to estimates by Credit Suisse, 910,000 millionaires lived in the country in mid-2019. That was 19,000 more wealthy than twelve months earlier. According to the information, this means that Switzerland accounts for two percent of millionaires worldwide. If the Credit Suisse figures were correct, more than one in ten Swiss would be a millionaire. Because just 8.5 million people live in the Alpine republic. The reason for the seemingly fantastic wealthy quota of the tax haven: Credit Suisse does not use citizenship in the statistics, only the place of residence is decisive, as it was said when asked. The management consultancy company Capgemini, on the other hand, had “only” 389,200 millionaires in Switzerland in 2018.

@Ricardo Gomez Angel on Unsplash
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# 7 Italy

In Europe, the density of millionaires is particularly high. Every second top country in this ranking is on the continent. Italy contributed around 1,496,000 rich people in 2019. According to Credit Suisse, that was 19,000 fewer than in mid-2018.

# 6 France

France lost around 11,000 millionaires by mid-2019. The remaining 2,071,000 still made up four percent of all millionaires worldwide.

# 5 Germany

In Germany, 65,000 people have become millionaires within a year. That corresponds to the population of Weimar. In 2019, the Federal Republic of Germany had 2,197,000 millionaires. This means that every 20th millionaire worldwide was German.