While America has the most number of millionaires in absolute terms, it does not have the most per capita. Reflecting the shift in global wealth distribution, most of the countries where the per-capita number of millionaires exceeds that of the US are in Asia and the Middle East.
62.5 million millionaires worldwide end-2021
The largest increases in the number of millionaires over the past year were recorded in India (21 per cent), China (16 per cent) and Singapore (14 per cent). This is broken down in the table below.
The world however was getting richer at a slower pace due to declining equity markets driven primarily by fears over Europe’s debt crisis.
In fact, as I consider future job prospects, I am actually going to look at moving to Singapore or the UAE, where I can get paid as well or better than here in the US, while having more home amenities like a maid and a driver, not to mention the opportunity to explore brand new regions.
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Now, did most of these millionaires originate in the US and vacate due to their wealth going farther (such as a former Facebook founder), or did the vast majority originate in these other countries?