Visualizing The Global Millionaire Population

When we think of the term “millionaire”, it’s only natural for our thoughts to be skewed towards the famous business magnates that have amassed giant fortunes, like Jeff BezosElon Musk, or Warren Buffett.

However, as Visual Capitalist's Jeff Desjardins notes, the reality is that those types of ultra high net worth individuals (UHNWIs) with fortunes above $30 million are a fairly rare commodity – and when it’s all said and done, they make up a very tiny percentage of the millionaire population as a whole.

The vast majority of millionaires (90.0%) globally have fortunes between $1 million and $5 million, and you’re probably not going to find many of them with a sprawling mansion or a new Rolls Royce in the garage.

 

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In fact, most millionaires drive a Ford.

LOCAL MILLIONAIRES

So where will you find all of the world’s millionaires?

Courtesy of: Visual Capitalist

 

They are most likely to be found in big cities – places where they can use and display their wealth. These are also the places where big opportunities tend to be found, so it’s no surprise to see millionaires cluster in world-class cities like New York, Hong Kong, London, Tokyo, or Singapore.

Regions below are sorted by the total millionaires in each city. Data comes from the Knight Frank 2017 report.

TOP CITIES IN ASIA

 

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Tokyo, Hong Kong, and Singapore are the undisputed millionaire population capitals in Asia, but mainland China is coming up quick from behind.

In just the last 10 years, China has upped its millionaire count by 281% to 719,400 in total – and Beijing (with 122,100 millionaires) now cracks the top five list in Asia.

TOP CITIES IN OCEANIA

 

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Australia’s millionaire count has soared 85% over the last 10 years, thanks in part to red-hot property prices.

TOP CITIES IN EUROPE

 

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London is the millionaire capital for the world, with 357,200 of them.

Despite its relatively small size in comparison to the European heavyweights, Switzerland also has two cities in the top five: Geneva and Zurich.

TOP CITIES IN THE MIDDLE EAST

 

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Not surprisingly, Dubai is the biggest destination for the ultra-rich to flock to in the Middle East.

TOP CITIES IN LATIN AMERICA

 

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Mexico City, and then the two big ones in Brazil (São Paulo and Rio), are where millionaires congregate in Latin America.

TOP CITIES IN NORTH AMERICA

 

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The U.S. has 4.3 million millionaires, and they are widely dispersed through the country.

The Knight Frank 2017 report lists five cities: NYC, Washington, D.C., San Francisco (incl. Bay Area), Los Angeles, and Miami – all of which, according to their calculations, have more than 30k millionaires.

Canada’s Toronto also has broken the six-digit barrier with over 100,000 millionaires. That puts the Big Smoke in pretty unique company, as only 17 cities globally can make such a claim.

 

 

Comments

Retired Guy cheka Sat, 01/06/2018 - 16:28 Permalink

Gotta call BS on the article. How are they identifying these millionaires? Sure owning an expensive house in San Francisco is public record. What if you live in the country, stack PMs and generally lay low? Personally I wouldn't live in San Fran if you paid me. Why assume millionaires all like expensive cities?

In reply to by cheka

zippedydoodah Stuck on Zero Sat, 01/06/2018 - 16:37 Permalink

i just did a search on rightmove.co.uk for 2 bedroom flats in London starting at £1m ($1.36m) 

3573 results.

If you have never visited London then I will summarise it for you in four words...

"Arsehole of the world". I have however never been to New York so I might be biased.

My (tiny) two bedroomed house cost £12k in 2003. It must be worth at least errrr £30k now?

 

In reply to by Stuck on Zero

zorba THE GREEK So Close Sat, 01/06/2018 - 02:31 Permalink

I would be more interested in seeing where the billionaires live. Zorba retired with 4 million and is struggling to get by. Zorba made the mistake of spoiling his family when he was earning the big bucks. Now Zorba is retired for 7 years and his family acts like Zorba is still making the big bucks. Zorba's wife wants to keep shopping at Nordstrom and Bloomingdales, but she needs to start shopping at Kohls and Target, or soon we will be shopping at Goodwill and the Dollar Store.

In reply to by So Close

William Dorritt InnVestuhrr Sun, 01/07/2018 - 08:39 Permalink

Marriage Contract gives the Govt unlimited control over your assets under the pain of death if you don't hand over the money

 

This is the same contract that the government agent in a dress called a Priest presents to you as part of their official duties as a Government Agent.

The hundreds of pages contract, not presented, gives the thieves in the BAR association and BAR members in black dresses unlimited rights to redistribute your assets to themselves first, then your victim wife and kids second, turning the dumb white male into an ATM machine for the BAR.

In reply to by InnVestuhrr

JelloBeyonce Melway Sat, 01/06/2018 - 03:26 Permalink

Numerous historians, such as Plutarch, Adam Smith, Thomas Jefferson, and others, have noted that throughout time, the accumulation of wealth naturally has gravitated towards the few, all other factors being equal.

Of course, kissing the asses of the multimillionaires and billionaires above you doesn't hurt either.....if you're into that.
It all depends on what you value.  The pursuit of money often comes at the loss of self-respect.
 

The modern debt-based economy, where every single "dollar" of wealth is backed by an equal amount of debt, those few with the wealth will continue to create institutions to maintain a positive wealth flow in their direction.

 

 

 

"When the accumulation of wealth is no longer of high social importance, there will be great changes in the code of morals. We shall be able to rid ourselves of many of the pseudo-moral principles which have hag-ridden us for two hundred years, by which we have exalted some of the most distasteful of human qualities into the position of the highest virtues."

 

"Capitalism is 'the astonishing belief that the nastiest motives of the nastiest men somehow or other work for the best results in the best of all possible worlds.'”

 

In reply to by Melway

Internet-is-Beast JelloBeyonce Sat, 01/06/2018 - 06:15 Permalink

Capitalism is when you buy a big jar of peppercorns only to find out when you open it that the label was hiding the fact that it was only 2/3 full. I guess you are supposed to know that 200g of peppercorns would only equate to 2/3 of 2/5 of a litre. How stupid of me not to realize that!

Next up, the incredible shrinking bagette--easier to carry, same great taste, same low price! 

In reply to by JelloBeyonce

commoncourtesy Benjamin123 Sat, 01/06/2018 - 14:34 Permalink

 

 

CAPITALISM is much more simple than that!

CAPITALISM is ALL CAPS. Why is your name written in ALL CAPITAL LETTERS for bank accounts, credit/debit cards, all official forms, driving licences, tax, IRS, national insurance, etc...? 

Slaves own nothing!

When everything is registered, such as births (birth certificates), houses (land registry), cars, marriage, etc... you gift all your belongings to the corporation (aka the government) that runs your Country to do with as they like through their system. You degrade yourself to the registered keeper and have to ask their permission to use them (via a license) in return for a few privileges. If you fail to obey all their coded legal company regulations (statutory instruments) they punish you (revoke licenses, fine you, take children from you as a ward of court, take your house, take your car, etc... They do all this through their company courts (BAR Crown Temple - British Accredited Registry).

Through your Birth Certificate, your Social Security Number, (National Insurance Number) and your Bank Account contracts, YOU ARE TRICKED INTO BEING A PERSON, A CORPORATION, A FICTION - They just forgot to tell you! 

CAPITALISM = CONTROL & FRAUD (via Admiralty and Maritime jurisdictions).

Google Anna Von Reitz

How many countries are without a central bank (a ROTHSCHILD central bank) and require a regime change?

GOVERNMENT in latin - is to control the mind! 

 

In reply to by Benjamin123

InnVestuhrr JelloBeyonce Sat, 01/06/2018 - 12:41 Permalink

Are you still posting for the Communist Worker's Daily ?

The people who complain most loudly and viciously about free-enterprise are the lazy, incompetent, failures.

On Shark Tank and The Profit I saw many teenagers and high-school drop-outs who created successful self-sustaining businesses.

What are your excuses for your personal failure and your envy and resentment of the successful ???

In reply to by JelloBeyonce

LightBeamCowboy Melway Sat, 01/06/2018 - 14:04 Permalink

Don't worry about it, Melway. The word "millionaire" is never inflation-adjusted. When I was a kid "millionaire" actually meant something. Today it's a decent house and some retirement savings, maybe a new-ish car that will add up to seven figures in assets if they're all paid for. The problem, linguistically, is that the next step up, "billionaire" is a thousand-fold more in assets than a lowly millionaire, so we clearly need a new term for financial awesomeness or condemnation, depending on where we're coming from on the political spectrum. Whatever the term is, this millionaire will keep driving his 18 year old pickup truck and be happy with his million-dollar view, which costs me nothing.

In reply to by Melway

TeethVillage88s LightBeamCowboy Sat, 01/06/2018 - 14:38 Permalink

True, these articles should strive for meaningful metric... $50 Millionaire or $100 Millionaire.

- What should be the new metric, something less than $1 Billion, but money is deflating whether Euro, USD, CAD, Renminbi/Yuan whatever
- This Era of banking & Leverage means the power to get more financing & debt is where the rich live, but not your own debt if you can be an executive or investor
- Trans-National & able to get more debt is wealth & power

In reply to by LightBeamCowboy

dizzyfingers Melway Sun, 01/07/2018 - 12:00 Permalink

Yes! And here's another just for grins:

Michael WolffWhite House Press BriefingIranTrump Coverage Studies

Stunning Pictures of Al Gore's New $9 Million Mansion Media Totally Ignored

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ByNoel Sheppard| May 3, 2010 11:45 PM EDT

Nobel Laureate Al Gore purchased a $9 million mansion in the luxurious hills of Montecito, California, recently, and with the exception of the Los Angeles Times and Fox News, America's media couldn't care less.

You think it might be because the Gore-loving press wouldn't want people to consider the possibility that all of his global warming hysteria was really about lining his wallet and not saving the planet?

Formulate a response to that question as you look at what all that money the former Vice President is making off of spreading this myth can buy (h/tDoug Ross):

Sweet, wouldn't you say? (Readers are encouraged to view more pictures of this fabulous estatehere.)

Certainly not bad for a guy who supposedlywas worth between one and two million dollars in 2000.

Were the "Always Fascinated by the Lifestyles of the Rich and Famous" press interested?

Heck no.

According to LexisNexis, apart from the Los Angeles Times that broke this story last Wednesday, and Fox News's Sean Hannity who spoke about this on consecutive nights last week, America's media were totally mum.

Why might that be? 

You think Gore's adoring press don't want folks to know how much money he's making off this scam?

Before you answer THAT question, consider what the Nobel Laureate told Congress last year as the House was deliberating cap-and-trade legislation:

AL GORE: Every penny that I have made, I have put right into a non-profit deal, Alliance For Climate Protection, to spread awareness of why we have to take on this challenge. And Congresswomen, if your, if, if you believe that the reason I have been working on this issue for 30 years is because of greed, you do not know me.

Now, imagine for a moment there were actually journalists still in America and not advocates pretending to be journalists.

A former Vice President who last year told a House committee he was putting all of his earnings into a non-profit company to "spread awareness of why we have to take on" global warming a year later buys a $9 million mansion with six fireplaces, five bedrooms, and nine bathrooms for him and his wife.

Don't you think SOMEBODY should have reported it other than Fox News, the LA Times, and conservative bloggers?

Where'd the money come from? Was this purchased by his non-profit corporation, and if so, how does he get away with that?

Did he sell some of his Google or Apple stock?

And how about some questions about how green the house is? Are there solar panels and windmills to power this facility? If not, what are their plans? 

Forgetting all of that, if the Clintons, Bushes, or Cheneys bought such a place, do you think the media would cover it, at least as a human interest story? 

For over three years, Gore's adoring press have followed virtually every move he's made since becoming the voice of global warming.

He buys a STUNNING villa as the unemployment rate stands at almost 10 percent and Americans are struggling to regain their footing after 2008's financial crisis, and the media are suddenly disinterested in him?

On exactly which planet, be it cooling or warming, does THAT make any sense?

More reading concerning Gore's investments: 

 

In reply to by Melway