You Are Rich If You Have $3,650

December 19th, 2014 Posted in Canada|Beyond

Where Most Millionaires Live

Where Most Millionaires Live

According to Credit Suisse Global Wealth Report 2014, you are one of the half wealthiest people on earth if you have $3,650. The other unfortunate half own less than one percent of global wealth. If you would like to be the top 10 percent of wealthy people, that would require $77,000. This top 10 percent owns 87 percent of global wealth.

And almost half of the global wealth owned by the richest 1 percent. You will need $798,000 to belong to the top 1 percent of the richest people. Where are all the rich people? 41 percent of the world’s millionaires live in the USA. Other top countries where millionaires reside are Japan (8 %), France (7 %), Germany and UK (6 %), Italy (5 %), Australia (4 %), China and Canada (3 %). The highest density of millionaires can be found in Europe.

By 2019, global millionaire numbers are expected to increase by 53 percent, the global middle class is expected to increase 30 percent and upper-middle class only 22 percent.

China is expected to give birth the most millionaires by 2019 due to its skyrocketing population growth. Millionaires growth in the USA will not be as vigorous as China, however it will still retain its title of the country where most millionaires live by 2019.

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