The number of billionaires around the world is on the rise. In fact, according to a report by Oxfam International, the number of billionaires will increase by one every two days between 2018 and 2022. That’s an increase of about 2,754 billionaires in four years! Where will these new billionaires come from? And which countries will have the most billionaires in 2022? Let’s take a look at the top 10 countries with most billionaires in 2022:
10. Italy
Total No. of Billionaires in Italy 2022: 52
Italy is 10th of Top 10 countries with most billionaires in 2022. Italy is home to some of the world’s wealthiest people. According to Forbes magazine, there are currently 78 billionaires living in Italy, with a combined net worth of $273 billion. This puts Italy in fourth place on the list of countries with the most billionaires.
The majority of Italian billionaires made their fortune in fashion and luxury goods, followed by banking and finance. Some of the best-known names on the list include Giorgio Armani, Diego Della Valle, Miuccia Prada, and Franca Sozzani.
What sets Italy apart from other countries with a large number of billionaires is the concentration of wealth in a few select cities. Rome and Milan are home to almost half of all Italian billionaires. This is in contrast to billionaire hot spots like New York City and Hong Kong, which have a more evenly distributed population of ultra-wealthy individuals.
9. Brazil
Total No. of Billionaires in Brazil 2022: 54
Brazil is 9th of Top 10 countries with most billionaires in 2022. Brazil is home to the third-highest number of billionaires in the world, with a total of six billionaires as of March 2013. These Brazilian billionaires have a combined net worth of $67.4 billion.
Eike Batista is the richest billionaire in Brazil, with a net worth of $30 billion. He made his fortune in the mining and oil industries. Jorge Paulo Lemann is the second-richest Brazilian billionaire, with a net worth of $19.4 billion. He co-founded 3G Capital, a private equity firm that has invested in companies such as Burger King and Heinz.
Other Brazilian billionaires include: Marcel Herrmann Telles (net worth: $10 billion), Ricardo Salinas Pliego ($6.7 billion), Nelson Sirotsky ($3 billion), and João Roberto Martins Filho ($2.5 billion).
8. Russia
Total No. of Billionaires in Russia 2022: 72
Russia is 8th of Top 10 countries with most billionaires in 2022. There are currently 96 billionaires in Russia, which is more than any other country in the world except for the United States (which has 585 billionaires). Russia’s billionaires have a combined net worth of $484 billion, which is also more than any other country in the world except for the United States (whose billionaires have a combined net worth of $2.8 trillion).
The vast majority of Russia’s billionaires made their fortunes in the energy and commodities sectors, due to the fact that Russia has massive reserves of oil, gas, and other natural resources. In fact, 70% of Russia’s billionaires derived their wealth from these industries.
Although most of Russia’s billionaires reside in Moscow, there are also a significant number who live in St. Petersburg and elsewhere in the country. Notable Russian billionaires include Oleg Deripaska (net worth: $28.6 billion), Roman Abramovich (net worth: $12.4 billion), Mikhail Prokhorov (net worth: $9.4 billion), and Vladimir Lisin (net worth: $18.5 billion).
7. France
Total No. of Billionaires in France 2022: 73
France is 7th of Top 10 countries with most billionaires in 2022. According to a recent study, France is home to the second highest number of
billionaires in the world.
There are a total of 39 billionaires living in France, with a combined net worth of $209 billion. This puts France second only to the United States in terms of billionaire population.
The majority of French billionaires made their fortunes in a variety of industries, including fashion, luxury goods, banking, and real estate. A significant number also inherited their wealth.
Notably, there are no French tech billionaires on the list. This is likely due to the fact that the French government has been notoriously hostile to tech companies and has placed high taxes on them in recent years.
The richest person in France is Bernard Arnault, chairman and CEO of LVMH Moet Hennessy Louis Vuitton SE. Arnault is worth an estimated $107 billion, making him the fourth richest person in the world.
6. Switzerland
Total No. of Billionaires in Switzerland 2022: 107
Switzerland is 6th of Top 10 countries with most billionaires in 2022. According to a recent report, Switzerland is home to more billionaires per capita than any other country in the world.
There are currently around 85 billionaires living in Switzerland, which has a population of just over 8 million people. This means that there is one billionaire for every 96,000 people living in the country.
While the US still has the most billionaires overall (with 585), when it comes to billionaires per capita, Switzerland is well ahead. Other countries in the top five include Hong Kong (with 61 billionaires), Monaco (36), Iceland (30), and the United Arab Emirates (27).
So why is Switzerland such a popular place for the world’s wealthiest people? There are a few reasons.
First of all, the Swiss banking system is renowned for its secrecy and security, which makes it an attractive destination for those looking to protect their assets from public scrutiny. Second, the country has very low taxes, which is another major draw for wealthy individuals. And finally, Switzerland boasts a high quality of life, with beautiful scenery and world-class infrastructure.
If you’re looking to rub shoulders with the rich and famous, then Switzerland is definitely the place to be!
5. Germany
Total No. of Billionaires in Germany 2022: 145
Germany is 5th of Top 10 countries with most billionaires in 2022. Germany is home to some of the wealthiest people in the world. According to Forbes magazine, there are currently 24 billionaires living in Germany, with a combined net worth of $146.8 billion. The majority of these billionaires made their fortunes in a variety of industries, including automotive, retail, chemicals, and real estate.
Some of the most notable German billionaires include Karl Albrecht (net worth: $26.4 billion), the co-founder of Aldi; Reinhold Würth (net worth: $13 billion), the owner of a leading international automotive supplier; Stefan Quandt (net worth: $12.8 billion), heir to the BMW fortune; and Michael Otto (net worth: $11.1 billion), chairman of Otto Group, one of the world’s largest mail-order companies.
Despite being home to many billionaires, Germany ranks only fourth on Forbes’ list of countries with the most billionaires. The United States tops the list with 585 billionaires, followed by China with 373 and Russia with 101.
4. United Kingdom
Total No. of Billionaires in United Kingdom 2022: 150
United Kingdom is 4th of Top 10 countries with most billionaires in 2022. There are currently 149 billionaires living in the United Kingdom, making it the fourth country in the world with the most billionaires. The majority of these billionaires (85) live in London, which is more than any other city in the world.
The United Kingdom is home to some of the oldest and most well-known billionaires in the world, such as the Duke of Westminster and Lakshmi Mittal. The average age of a billionaire in the UK is 63 years old.
There are a number of reasons why the UK is such a popular place for billionaires to reside. Firstly, it has a very stable political and economic environment. Secondly, it has a favourable tax regime for high net worth individuals. And finally, it offers a great quality of life with its many world-class cities and towns.
3. India
Total No. of Billionaires in India 2022: 215
India is 3rd of Top 10 countries with most billionaires in 2022. India is home to the third-largest number of billionaires in the world, with 101 billionaires as of 2018. That’s up from 97 in 2017 and 81 in 2016. Reliance Industries Chairman Mukesh Ambani ($47.3 billion) is once again the richest person in India, followed by Hinduja brothers ($16.9 billion) and Wipro Chairman Azim Premji ($15.9 billion).
There are a few notable newcomers on this year’s list, including Gautam Adani ($12.6 billion), Patanjali Ayurved founder Baba Ramdev ($4.9 billion), and Byju’s founder Byju Raveendran ($4 billion).
The combined net worth of India’s 101 billionaires is $498 billion, up from $440 billion last year. In comparison, the United States has 585 billionaires (with a combined net worth of $2.9 trillion), while China has 373 (with a combined net worth of $1.12 trillion).
2. United States
Total No. of Billionaires in United States 2022: 716
United States is 2nd of Top 10 countries with most billionaires in 2022. There are over 2,000 billionaires in the United States, more than any other country in the world. In 2019, there was a record-breaking 705 billionaires in the US. The average American billionaire is worth $3.86 billion.
The US has always had the most billionaires, but China is quickly catching up. In 2006, there were just 16 Chinese billionaires. By 2019, that number had increased to 323. If current trends continue, China is projected to have more billionaires than the US by 2027.
So what do these wealthy individuals do with their money? Many of them give back to society through philanthropy. Bill Gates, Warren Buffett, and Mark Zuckerberg are all well-known for their charitable giving. Others invest in businesses or venture capital firms. Some simply enjoy a life of luxury.
Whatever their individual circumstances may be, it’s clear that America’s billionaires are having a major impact on the country – and the world – economy.
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1. China
Total No. of Billionaires in China 2022: 1,133
China is No. 1 of Top 10 countries with most billionaires in 2022. Today, China is home to 629 billionaires, which is more than any other country in the world. In fact, one in every five billionaires globally is now Chinese. And, according to a new report by UBS and PwC, China is on track to become the first country with more than 10 trillionaires by 2023.
While the US still has the most absolute number of billionaires – 724 – its billionaire population has actually shrunk since last year, while China’s has continued to grow. The new UBS/PwC report projects that there will be 2.5 billion middle-class consumers in Asia by 2030, compared to just 1 billion in North America and Europe combined.
The rise of the Chinese billionaire is reflective of the country’s growing economy. In 1978, China’s GDP per capita was just US$157; by 2017, it had increased more than 100-fold to US$16,149. And over the next decade, China’s economy is expected to continue to grow at a rapid pace, with GDP per capita projected to reach US$27,752 by 2027.
As China’s economy has grown, so too has its middle class. In 2000, less than 10% of urban Chinese households could be considered middle class; by 2022, that number is expected to reach 64%. This expanding middle class is increasingly fueling demand for luxury goods and services.
