Continued economic development across the world is driving an increase in prosperity and financial security. According to data from the World Bank, global economic output — as measured in current U.S. dollars (USD) — surged by nearly 67% since 2010, from $66.7 trillion to over $111.3 trillion. Meanwhile, the share of the world population living on $3 or less per day fell from 21.0% to 10.2% over roughly the same period, adjusting for inflation. The tangible impact of long-term economic growth is evidenced not only by a steep reduction in global poverty, but also by a significant uptick in individual wealth.
According to the 16th edition of the Global Wealth Report, published by the Swiss investment bank UBS, there are approximately 60 million people worldwide with an estimated net worth of at least $1 million, up from only about 24.2 million globally as recently as 2010.
However, the surge in the number of millionaires has not been even across the world. As of 2024, the most recent year of available data, more than 95% of all millionaires worldwide lived in one of just 25 countries. (Here is a look at the best U.S. states for millionaires.)
Using data from the UBS Global Wealth Report 2025, 24/7 Wall St. identified the countries home to the most millionaires. We ranked all countries with available data on the estimated number of residents with an approximate net worth of at least 1 million U.S. dollars. Supplemental data on gross domestic product, GDP per capita, population, and agriculture as a share of GDP — an indicator of economic development — are each for the latest available year and are from the World Bank. This list includes countries, as well as special administrative regions.
The number of millionaires living in the countries on this list ranges from about 331,000 to more than 23.8 million. Not surprisingly, most of these countries are home to relatively wealthy populations. Globally, GDP per capita was $13,673 in 2024, and in all but three countries on this list with available data, GDP per capita exceeds the global average — in most cases, by tens of thousands of dollars.
Similarly, most of these places have a disproportionately high concentration of millionaires. The United States, for example, is home to only about 4.2% of the global population, but nearly 40% of the world’s millionaires. (Here is a look at the countries that are home to the most billionaires.)
The relative wealth and prosperity of the populations in these countries are partly attributable to high levels of economic development. In poorer, less-developed countries, agriculture typically accounts for a large share of total annual economic output. Globally, 4% of GDP is derived from agriculture, forestry, and fishing—and in all but three countries on this list with available data, agriculture contributes less than the global average to national GDP.
These are the countries with the most millionaires.
Why It Matters
Economic expansion in the 21st century has greatly reduced financial hardship across the world, while simultaneously raising levels of prosperity in many of the wealthiest countries. In the last 15 years alone, the number of millionaires globally has more than doubled. Still, the world’s millionaires are concentrated in just over two dozen countries. Generally, these places have highly developed, complex economies, and high overall standards of living.
25. Singapore
- Est. number of millionaires in 2024 (measured in USD): 331,000 (approx. 0.6% of millionaires globally)
- GDP per capita in 2024: $90,674
- GDP in 2024: $547.4 billion (0.5% of global economy)
- Agriculture as a share of GDP: 0.0%
- Population in 2024: 6,036,860 (0.1% of global population)
24. Saudi Arabia
- Est. number of millionaires in 2024 (measured in USD): 339,000 (approx. 0.6% of millionaires globally)
- GDP per capita in 2024: $35,057
- GDP in 2024: $1.2 trillion (1.1% of global economy)
- Agriculture as a share of GDP: 2.5%
- Population in 2024: 35,300,280 (0.4% of global population)
23. Norway
- Est. number of millionaires in 2024 (measured in USD): 348,000 (approx. 0.6% of millionaires globally)
- GDP per capita in 2024: $86,810
- GDP in 2024: $483.7 billion (0.4% of global economy)
- Agriculture as a share of GDP: 2.0%
- Population in 2024: 5,572,272 (0.1% of global population)
22. Denmark
- Est. number of millionaires in 2024 (measured in USD): 376,000 (approx. 0.6% of millionaires globally)
- GDP per capita in 2024: $71,852
- GDP in 2024: $429.5 billion (0.4% of global economy)
- Agriculture as a share of GDP: 0.7%
- Population in 2024: 5,976,992 (0.1% of global population)
21. Mexico
- Est. number of millionaires in 2024 (measured in USD): 399,000 (approx. 0.7% of millionaires globally)
- GDP per capita in 2024: $14,158
- GDP in 2024: $1.9 trillion (1.7% of global economy)
- Agriculture as a share of GDP: 3.8%
- Population in 2024: 130,861,007 (1.6% of global population)
20. Russia
- Est. number of millionaires in 2024 (measured in USD): 426,000 (approx. 0.7% of millionaires globally)
- GDP per capita in 2024: $14,889
- GDP in 2024: $2.2 trillion (2.0% of global economy)
- Agriculture as a share of GDP: 2.7%
- Population in 2024: 143,533,851 (1.8% of global population)
19. Brazil
- Est. number of millionaires in 2024 (measured in USD): 433,000 (approx. 0.7% of millionaires globally)
- GDP per capita in 2024: $10,280
- GDP in 2024: $2.2 trillion (2.0% of global economy)
- Agriculture as a share of GDP: 5.6%
- Population in 2024: 211,998,573 (2.6% of global population)
18. Sweden
- Est. number of millionaires in 2024 (measured in USD): 490,000 (approx. 0.8% of millionaires globally)
- GDP per capita in 2024: $57,723
- GDP in 2024: $610.1 billion (0.5% of global economy)
- Agriculture as a share of GDP: 1.1%
- Population in 2024: 10,569,709 (0.1% of global population)
17. Belgium
- Est. number of millionaires in 2024 (measured in USD): 549,000 (approx. 0.9% of millionaires globally)
- GDP per capita in 2024: $55,955
- GDP in 2024: $664.6 billion (0.6% of global economy)
- Agriculture as a share of GDP: 0.8%
- Population in 2024: 11,876,844 (0.1% of global population)
16. Hong Kong
- Est. number of millionaires in 2024 (measured in USD): 647,000 (approx. 1.1% of millionaires globally)
- GDP per capita in 2024: $54,107
- GDP in 2024: $407.1 billion (0.4% of global economy)
- Agriculture as a share of GDP: 0.0%
- Population in 2024: 7,524,100 (0.1% of global population)
15. Taiwan
- Est. number of millionaires in 2024 (measured in USD): 759,000 (approx. 1.3% of millionaires globally)
- GDP per capita in 2024: N/A
- GDP in 2024: N/A
- Agriculture as a share of GDP: N/A
- Population in 2024: N/A
14. India
- Est. number of millionaires in 2024 (measured in USD): 917,000 (approx. 1.5% of millionaires globally)
- GDP per capita in 2024: $2,697
- GDP in 2024: $3.9 trillion (3.5% of global economy)
- Agriculture as a share of GDP: 16.4%
- Population in 2024: 1,450,935,791 (17.8% of global population)
13. Switzerland
- Est. number of millionaires in 2024 (measured in USD): 1,119,000 (approx. 1.9% of millionaires globally)
- GDP per capita in 2024: $103,670
- GDP in 2024: $936.6 billion (0.8% of global economy)
- Agriculture as a share of GDP: 0.6%
- Population in 2024: 9,034,102 (0.1% of global population)
12. Spain
- Est. number of millionaires in 2024 (measured in USD): 1,202,000 (approx. 2.0% of millionaires globally)
- GDP per capita in 2024: $35,297
- GDP in 2024: $1.7 trillion (1.5% of global economy)
- Agriculture as a share of GDP: 2.5%
- Population in 2024: 48,807,137 (0.6% of global population)
11. Netherlands
- Est. number of millionaires in 2024 (measured in USD): 1,267,000 (approx. 2.1% of millionaires globally)
- GDP per capita in 2024: $68,219
- GDP in 2024: $1.2 trillion (1.1% of global economy)
- Agriculture as a share of GDP: 1.7%
- Population in 2024: 17,994,237 (0.2% of global population)
10. South Korea
- Est. number of millionaires in 2024 (measured in USD): 1,301,000 (approx. 2.2% of millionaires globally)
- GDP per capita in 2023: $33,121
- GDP in 2023: $1.7 trillion (1.5% of global economy)
- Agriculture as a share of GDP: 1.6%
- Population in 2024: 51,751,065 (0.6% of global population)
9. Italy
- Est. number of millionaires in 2024 (measured in USD): 1,344,000 (approx. 2.2% of millionaires globally)
- GDP per capita in 2024: $40,226
- GDP in 2024: $2.4 trillion (2.1% of global economy)
- Agriculture as a share of GDP: 2.0%
- Population in 2024: 58,986,023 (0.7% of global population)
8. Australia
- Est. number of millionaires in 2024 (measured in USD): 1,904,000 (approx. 3.2% of millionaires globally)
- GDP per capita in 2024: $64,407
- GDP in 2024: $1.8 trillion (1.6% of global economy)
- Agriculture as a share of GDP: 2.2%
- Population in 2024: 27,204,809 (0.3% of global population)
7. Canada
- Est. number of millionaires in 2024 (measured in USD): 2,098,000 (approx. 3.5% of millionaires globally)
- GDP per capita in 2024: $54,283
- GDP in 2024: $2.2 trillion (2.0% of global economy)
- Agriculture as a share of GDP: 1.6%
- Population in 2024: 41,288,599 (0.5% of global population)
6. United Kingdom
- Est. number of millionaires in 2024 (measured in USD): 2,624,000 (approx. 4.4% of millionaires globally)
- GDP per capita in 2024: $52,637
- GDP in 2024: $3.6 trillion (3.3% of global economy)
- Agriculture as a share of GDP: 0.6%
- Population in 2024: 69,226,000 (0.9% of global population)
5. Germany
- Est. number of millionaires in 2024 (measured in USD): 2,675,000 (approx. 4.5% of millionaires globally)
- GDP per capita in 2024: $55,800
- GDP in 2024: $4.7 trillion (4.2% of global economy)
- Agriculture as a share of GDP: 0.8%
- Population in 2024: 83,510,950 (1.0% of global population)
4. Japan
- Est. number of millionaires in 2024 (measured in USD): 2,732,000 (approx. 4.6% of millionaires globally)
- GDP per capita in 2024: $32,476
- GDP in 2024: $4.0 trillion (3.6% of global economy)
- Agriculture as a share of GDP: 0.9%
- Population in 2024: 123,975,371 (1.5% of global population)
3. France
- Est. number of millionaires in 2024 (measured in USD): 2,897,000 (approx. 4.8% of millionaires globally)
- GDP per capita in 2024: $46,150
- GDP in 2024: $3.2 trillion (2.8% of global economy)
- Agriculture as a share of GDP: 1.4%
- Population in 2024: 68,516,699 (0.8% of global population)
2. Mainland China
- Est. number of millionaires in 2024 (measured in USD): 6,327,000 (approx. 10.5% of millionaires globally)
- GDP per capita in 2024: $13,303
- GDP in 2024: $18.7 trillion (16.8% of global economy)
- Agriculture as a share of GDP: 6.8%
- Population in 2024: 1,408,975,000 (17.3% of global population)
1. United States
- Est. number of millionaires in 2024 (measured in USD): 23,831,000 (approx. 39.7% of millionaires globally)
- GDP per capita in 2024: $85,810
- GDP in 2024: $29.2 trillion (26.2% of global economy)
- Agriculture as a share of GDP: 0.9%
- Population in 2024: 340,110,988 (4.2% of global population)
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