There are a total of 2,208 billionaires in the world. Of these, China hosts nearly one-third of the world's total at 819. The majority of the rest of the world's richest people mostly live in a select few countries such as the United States and India. Interestingly, countries who host the most billionaires also tend to be the countries who deal with the most income inequality. In this article, we take a look at which countries boast the largest population of billionaires.
Countries By Number of Billionaires
1. China - 819
With 819, China is the country with the most billionaires. The richest man in the country is Ma Huateng with a wealth of $51.1 billion. He is the founder of Tancent, a technology company that is the biggest company in Asia. China's capital city of Beijing also ranks as one of the world's cities with the most billionaires. There has been a great increase in wealth in Chinese society as of recent decades, and although this has resulted in a larger middle-class in the country concerns about income inequality remain.
2. United States - 585
The United States has the second largest number of billionaires in the world, at 585. In recent times, Jeff Bezos, the CEO of online retailer Amazon has surpassed long-time billionaire Bill Gates to become the richest person in the US. Bezos has a net worth of around 155 billion US dollars.
3. India - 131
India has 131 of the world's billionaires, giving the country the third position. Mukesh Dhirubhai Ambani is the richest person in India, and has a net worth of around 40 billion. He is the chair of Reliance Industries Limited. As in the case of China, there has been an increase in wealth in India over the past few decades. However, concerns over income equality abound, especially considering that it is estimated that an estimated 1% of India's population holds 73% of its wealth.
4. Germany - 114
Germany is known for hosting one of the strongest economies in Europe, but it also hosts the continent's highest number of billionaires. Two German siblings, Beate Heister and Karl Albrecht Jr, tie for the spot of Germany's richest person. They are both heirs to the supermarket giant Aldi.
5. Russia - 96
As Moscow hosts one of the world's largest billionaire populations, it's no surprise that Russia makes the list of countries with the most billionaires as well. There are 96 billionaires living in Russia, the richest of whom is gas-company mogul Leonid Mikhelson. His net worth is around 18 billion.
6. Hong Kong - 67
The Special Administrative Region (SAR) of Hong Kong is known for being a bustling, cosmopolitan city, and 67 billionaires live within its borders. La Ka-shing is the richest Hong Kong resident. His net worth of 37 billion comes from his position with massive conglomerate CK Hutchison Holdings.
7. United Kingdom - 54
The United Kingdom has 54 billionaires. The wealthiest family in the country is by far the Hinduja family, who have become wealth from the Indian automobile company Ashok Leyland.
8. Brazil - 43
Though not the wealthiest country in South America by per capita income, Brazil does have more billionaires than any other South American nation, with a total of 43. Brazil is another country that is known for extreme income inequality.
9. Italy - 42
There are 42 billionaires in Italy. The richest person in Italy is Maria Franca Fissolo, whose wealth comes from the Ferrero confectionary line. Her net worth is around 28 million dollars.
10. Canada - 39
Although it is not home to anywhere as many billionaires as its neighbor to the south, Canada still manages to take the tenth stop on the list of countries with the most billionaires. The richest Canadian is David Thomson, whose net worth of around 25 billion makes him one of the wealthiest people in the world.
Cities With the Most Billionaires
Although many countries on this list make the list of cities with the most billionaires, the numbers are not actually identical. While China has more billionaires than any other country in the world, it is actually New York, United States, that has the most billionaires. New York is followed by Hong Kong, San Francisco, and Moscow.