Millionaire
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| While quite a few in the managerial upper class are millionaires, they are definitely not the financial deciders in the world. |
Millionaire, as opposed to billionaire. As of December 2020, there were estimated to be 46.8 million millionaires or high-net-worth individual (HNWIs) in the world. The United States had the highest number of HNWIs (11 Million) of any country, in a total of 3.5 million millionaire households.
Historical worth
Depending on how it is calculated, a million US dollars in 1900 is equivalent to:
- $21.2 million using the GDP deflator,
- $24.8 million using the consumer price index,
- $61.4 million using the gold price[1]
- $114.1 million using the unskilled wage,
- $162.8 million using the nominal GDP per capita,
- $642 million using the relative share of GDP,
Thus one would need to have almost thirty million dollars today[2] to have the purchasing power of a US millionaire in 1900, or more than 100 million dollars to have the same impact on the US economy.
Global cities with the most super-wealthy millionaires per capita (higher than $30 million)
According to wealth research group Wealth-X that released its latest UHNW Cities report, showing the residential footprint of the world's top ultra-high net worth (UHNW) individual cities.
Excluding Monaco – which has very high UHNWI density – Geneva has the highest density of super-wealthy people per capita in the world. The city is known as the most compact metropolitan area, and also enjoys a concentration of affluence. Singapore has the second-highest concentration, followed by San Jose, the center of Silicon Valley, and the largest city in Northern California. While New York City leads in terms of overall UHNW footprint, London has a similar number of UHNW "second homers" despite a considerably smaller population. Paris features as the second-highest European city, after London, Wealth-X said. Among suburbs and smaller towns, Beverly Hills has the highest overall number of UHNW residents, and Aspen has the highest concentration on a per capita basis, the report showed. Ultra-high net worth individuals are defined by Wealth-X as those whose total net worth is higher than $30 million (R400 million).[3] Fig below illustrates Cities with The highest millionaire density worldwide (higher than $1 million).
Number of millionaires per country by Credit Suisse
Credit Suisse's "Global Wealth in 2019" measured the number of adult millionaires in the world. According to the report, the US has 18.6 million millionaires, highest in the world.[4]
| Rank | Country | Number of Millionaires |
% of world total |
| 1 | United States | 18,614,000 | 40% |
| 2 | China | 4,447,000 | 10% |
| 3 | Japan | 3,025,000 | 6% |
| 4 | United Kingdom | 2,460,000 | 5% |
| 5 | Germany | 2,187,000 | 5% |
| 6 | France | 2,071,000 | 4% |
| 7 | Italy | 1,496,000 | 3% |
| 8 | Canada | 1,322,000 | 3% |
| 9 | Australia | 1,180,000 | 3% |
| 10 | Spain | 979,000 | 2% |
| 11 | Netherlands | 832,000 | 2% |
| 12 | Switzerland | 810,000 | 2% |
| 13 | India | 759,000 | 2% |
| 14 | South Korea | 741,000 | 2% |
| 15 | Taiwan | 528,000 | 1% |
References
- ↑ http://www.measuringworth.com/gold/
- ↑ https://www.minneapolisfed.org/about-us/monetary-policy/inflation-calculator/consumer-price-index-1800-
- ↑ https://businesstech.co.za/news/wealth/214251/global-cities-with-the-most-millionaires-per-capita/
- ↑ https://web.archive.org/web/20191023104250/https://www.credit-suisse.com/media/assets/corporate/docs/about-us/research/publications/global-wealth-databook-2019.pdf