Where Millionaires Live 

The recently published 2016 World Wealth Report identified the top 12 countries where the most millionaires reside. The highest concentration of millionaires (defined as high net worth individuals with investable assets of at least $1 million) live in the United States, followed by Japan, Germany and China.

While the U.S. still leads in millionaire residents, China (16%) and Japan (11%) had the biggest increases from 2014 to 2015. Together, Japan and China represented 60 percent of the high net worth population growth in 2015, catapulting the Asia-Pacific region over North America as the top wealth market in the world.1

12 countries with the most millionaires:2

  1. USA – 4.45 million
  2. Japan – 2.72 million
  3. Germany – 1.19 million
  4. China – 1.03 million
  5. United Kingdom – 553,000
  6. France – 523,000
  7. Switzerland – 358,000
  8. Canada – 321,000
  9. Australia – 234,000
  10. Italy – 229,000
  11. Netherlands – 204,000
  12. India – 200,000

The 2016 World Wealth Report also revealed an interesting peek into the investment mix of millionaire portfolios. In aggregate, they invest about 25 percent of holdings in equities and 24 percent in cash and cash equivalents.3

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1Capgemini. 2016. “Global HNWI Population and Wealth Expanded, but at a Slower Pace.” Accessed Aug. 18, 2016.
3Capgemini. 2016. “2016 World Wealth Report.” Accessed Aug. 18, 2016.

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