Countries with the Most Millionaires

Yep, there are 1.15 million Emirati citizens and 8.84 million 'expats', of which the majority are South Asian immigrant labourers. Indeed, there are more people born in India and Pakistan living in the UAE than people born in the UAE. It's also why there are more than two men for every woman in the country. Strange place.

This is by total. For those countries to be on this list, 760% of Monaco's population would need to be millionaires, 580% of Liechtenstein's, 37% of Luxembourg's, 15% of Bahrain's, and 2.3% of UAE's.

And given that only about 20% of the UAE's population are citizens, who happen to control all the money, that percentage should be pushed to 11.5%. Also, within the rich citizen group, most wealth is distributed among the family rather than being in the hands of individuals.

I know, where the heck is UAE?

United Arab Emirates, one of the richest countries in the world. Located in the middle east.

Next to Oman and Saudi Arabia, I think?

Why is UAE?

When is UAE?

If it was per capita than those countries would probably be on there.

That's the most stupid question I've seen in a while. Do you know the populations of those countries?

Monaco does have many Millianares per capita: https://www.jetpunk.com/user-quizzes/1744710/countries-with-the-most-millionaires-per-capita

You could say USA, UK, Japan, China, Germany, France, Canada, Australia and Italy are millionaire millionaires.

Yeah. Even I was surprised to see that India with a large population doesn't have even a million millioniaires.

Millionaire sounds like a lot, but when you look at property values, we're not talking about rich people, just upper middle class . . . maybe even less. For instance, I know people in Calfiornia who own homes they bought for under $50K that are worth well over $1M today.

Yeah I think you sort of have to be a millionaire in Switzerland just to pay your rent.

what?

I guess I'm a millionaire here in the Philippines. In pesos. I've never been a millionaire in US dollars or even close to it.

THAT is very not true it's a very rich country and very nice country to be in but it doesn't cost that much

Apparently the Swiss spend so much of their income on basic living expenses they have nothing left over for senses of humor. Tragic.

Agreed, that's the whole ballgame. I'm Italian and I'm a millionaire, because I own two houses in a nice part of Rome, and that's enough. Of course, between taxes and stuff I can't even remotely live what you would call a typical "millionaire's life"

I love how the quiz has to point out that these are strictly adults. How rich are kids these days?

I wouldn't be surprised if a few Youtube "kids" were millionaires. Or the Kardashian/Jenner kids. Kylie is 20 and is expected to be the youngest self-made billionaire soon.

With nobody living there to park cars or wait tables because it would be too expensive. It would actually be too expensive for the least wealthy millionaires. That's just how scarcity works.

Russia has a lot of wealth I guess it's not very evenly spread. Same with the Middle Eastern countries particularly Saudi Arabia.

I suppose having a lot of millionaires puts a country somewhere in the middle of wealth distribution levels. If everyone had the same amount of money there would be no millionaires and if one person had all the wealth there would be one millionaire, to give logical extremes. I can see that the USA has disproportionately many millionaires for its population and wealth in most other aspects. But I'm not sure what this means economically.

United States' large economy generally supports this country when it comes to a number of millionaires. For example - I can buy a really big house in my country for an equivalent of 100k dollars. But I would have to spend a few times more (maybe even a million) if I wanted to buy exactly the same house in some places in the USA. And note that this country is one of the most populous, which also helps a lot. Wealth is not evenly distributed there, because it has homelessness rate higher than many other developed countries.

According to Wikipedia, in 2019 the US rate of homeless per 10,000 was 17, which was lower than Canada, Australia, New Zealand, the UK, Netherlands, Luxembourg, France, Germany, Sweden, Bosnia, China, Czech Republic, Greece, Ireland, Israel, and South Africa. Jordan and Liechtenstein reported 0 homeless, while Grenada had the most at 5644. Egypt, Honduras, Nigeria, and Haiti all had over 1000. Information is compiled differently among countries so direct comparisons are difficult. https://en.wikipedia.org/wiki/List_of_countries_by_homeless_population

Cool thumbnail :D

Is it Pringles or is it Natty Boh? The eternal question.

I assumed it was inspired by Milburn "Uncle" Pennybags, now known simply as Mr. Monopoly. No?

I never knew his name

thank you

no russia?

India has 172,000 millionaires. This puts it in 21st place, 3 places below Austria.

Am I dreaming? A quiz where Belgium is above Netherlands?

Not anymore though, has to do a lot with how our tax system works

Wait, in Switzerland, almost 10% of people are millionairs?! That's insane

I'm guessing this includes the millionaires hiding from taxes by registering a residence in Switzerland without actually living there.

That ain't that many people at all. I guess it also counts property ownership, then it would make much more sense.

But don't forget that the individual debt is huge in Switzerland, about 103% of the GPD, so maybe you habe a 1M$ house but you have an enormous loan...

USA! USA! USA!

@ChaosLord Agreed. Not to mention the economic momentum of an empire built on land expropriation and enslavement (aka free land/resources + free labour force). Not surprising.

okay bourgeoisie

Being a million dollars in debt would be the opposite of a millionaire.

:o. Those are some crazy numbers! I have to admit, for a split second I doubted if it was the combined amount of money of millionaires. Obviously not, but at first glance my mind thought the numbers were to high to be individual millionaires. 18 million millionaires wow

I wonder how many there are in the world, and what their combined worth is.

And if you get sick/into an accident?

QM is right but most people underestimate the costs of living in the SF Bay Area and, to only a slightly lesser degree, Seattle. For example, an Income of $117,400 is considered "low Income" by San Francisco, San Mateo and Marin counties, so that $100,000 job in construction doesn't do much. The median price of a home in SF is $1.3 million (that includes studio and 1 BR condos, the median for houses is $1.7). If one hopes to maintain a marginal middle class lifestyle at $250K a year, don't plan on home ownership or having a lot of that cash left after a decade. On the other hand, despite terrible problems like homelessness and traffic, it's a wonderful place to live with a great climate, cultural opportunities, sports and entertainment and fascinating (if sometimes nutty) people. A worthwhile experience.,

I live in a rural area where cost of living is low, and I know telephone line workers and registered nurses who knock down six figures a year. Their secret is being willing to work overtime to earn time-and-a-half. RN's can work three 12-hour shifts per week in the ICU, for example, and either pick up another shift for overtime, or take a weekend option at a city hospital and often earn double pay or more at hospitals desperate to staff on weekends. Two of our friends were telephone linemen and both earned over six figures working lots of overtime, but the downside is they both had knee surgeries in their 50s, and RNs often get varicose veins. They aren't all easy jobs, but the potential for earning is there for people willing to work hard, and living in more rural areas allow people to keep more of their pay.

"The American economy hasn't had a recession in over a decade" You jinxed us Quizmaster!

Quizmaster is right. North America is overpriced. If you have no family ties keeping you in Canada or the US when you retire, sell your home and move to a cheaper yet civilized place. I'm thinking Portugal or the Balkans myself.

Why except UK for United Kingdom but not US for United States. Also, America shouldn't count for US because not all of America is the states.

USA is accepted for United States

Indonesia... so many people no millionaires

Same with, say, Pakistan, or Bangladesh, or Nigeria, or Egypt, or Ethiopia, the list goes on and on.

I'm pretty sure that Indonesia does have millionaires, just not enough for this quiz.

If I ever became a millionaire, I'd spend $950,000 on pizza & beer. The rest I'd spend foolishly.

Even Brazilians are poor by comparison. Joseph Safra, Lebanese naturalized Brazilian and owner of Banco Safra, accumulates a fortune of US $ 25.2 billion (R $ 95.3 billion), dispute with Jorge Paulo Lemann, owner of 3G Capital: US $ 22.8 billion (R $ 86.2 billion), as the richest man in Brazil. The social inequality is so big around here, that some cannot get money to have food at home, living in a DEPLORABLE way.

Detail: Joseph Safra is Lebanese naturalized Brazilian, and João Paulo Lemann is Swiss naturalized Brazilian. In other words, I would never imagine Brazil on the list.

Correction: João Paulo Lemann is swiss naturalized brazilian.

Social inequality isn't the problem here, but poverty is. The major factor in poverty in Brazil is the bureaucracy of the state. and the "Brazil Cost". https://en.wikipedia.org/wiki/Brazil_cost

Interesting, I'd never heard of the Brazil cost. Thanks for the info.

If I was a millionaire, I'd buy 500,000 packets of Wine Gums. I'm only 10 :)

The US that far ahead... just sickening. Down with capitalism.

because capitalism made the economy of the US so good that people there are wealthier than in most of the rest of the world? That's sickening?

If you own a house, a couple cars, and have a reasonable retirement fund in the USA there's a good chance that you're a millionaire...

now... a system that allows for there to be so many billionaires.... that's a little more of a concern. But it's not the same thing as capitalism.

I was thinking it was because USA has a larger population than European countries but if you check the number of millinoaires per capita, USA is still at spot 4 in the world with 9.7% of the population having a net worth above 1 million. Only Luxembourg (16,3%), Switzerland (15,5%) and Australia (11,2%) scoring higher. Although I noticed countries like Monaco missing in the list which will have more than 10%.

I only missed Spain... I'm spanish.

Nice quiz, would like to see a Millionaires per capita quiz

It's easy to get your net worth 1m+ in the USA when you focus and pursue profitable work. Best country in the world to do this with the lowest barrier of entry. I'm curious how many angry, left-leaning replies this comment will yield.

But I haven't any boots! :/

Kinda surprising that Singapore, with more people and a much higher per capita GDP doesn't make the list, but NZ does.

I've made a sequel of sorts! https://www.jetpunk.com/user-quizzes/1744710/countries-with-the-most-millionaires-per-capita

Was expecting Singapore to be on here!

Am I right in thinking that not so many Singaporeans own their own home, and that's the asset that often leads to a person becoming a net worth millionaire.

Only missed Taiwan, which isn't even a country so basically that's 100% for me