February 2020: Deal broking company Latona’s has analysed the Knight Frank Wealth Report archive from the past 5 years to find out where the wealthiest people live, and how much money these high net-worth individuals really have.
The world is full of entrepreneurs, businessmen and women and royalty who all have one thing in common – lots of money.
But where do the few who acquire enough wealth to become a billionaire live, and how much money do these ultra-high net-worth individuals really have?
Coming in first place, with a huge 585 billionaires living there, is the USA.
With the likes of Jeff Bezos, Bill Gates and Mark Zuckerberg, totalling a net worth of almost $300 billion, it is no surprise the USA is home to so many high net-worth individuals.
Following behind the United States is China, where 373 billionaires choose to live. However, although this is the country with the second-highest number of billionaires, China comes top for the biggest percentage increase in billionaires, seeing a massive 206% increase in billionaires over a 5 year period.
China is home to billionaires such as Jack Ma who’s net-worth soared to $38 billion last year.
The country with the third highest number of billionaire inhabitants is Germany, with 123 total billionaires in the country.
The 11 richest Germans are worth a combined $197 billion. Despite Germany coming in third place, they have under half that of China and less than a third of the billionaires in the USA.
Nevertheless, multi-billionaires such as Georg Schaeffler and Stefan Quandt are amongst the 123 that live in Germany.
Switzerland saw the second-highest percentage increase in billionaires over 5 years at 177%, almost tripling their billionaire residents from 13 in 2013 to 36 in 2018.
Following behind was Sweden, who also so a huge increase of 129% from 14 billionaires in 2013 to 32 in 2018.
The UK is home to only 54 billionaires, including the likes of Sir Jim Ratcliffe, Lord Alan Sugar and Sir James Dyson. The number of billionaires increased over 5 years by 46% from 37 in 2013 to 54 in 2018.
Some countries have seen a decline in the number of billionaires residing there, with Brazil coming bottom seeing a 33% decrease from 46 billionaires in 2013 to 31 in 2018.
Joining Brazil at the bottom is Turkey who also saw a 33% decrease in billionaires from 43 in 2013 to 29 in 2018.
“Despite the big countries such as the USA and China taking the top spot, it’s great to see smaller European countries like Germany, Italy and the UK coming in the top 10 countries with the most billionaires, showing them as key places for billionaires to settle and continue to grow their wealth,” says Rick Latona, Director of Latona’s.
The USA is the country with the most billionaires, with 585 billionaires residing in the country
China saw a 206% increase over 5 years in the number of billionaires choosing to live there, the biggest increase of all countries
The UK is home to only 54 billionaires, which increased over 5 years by 46%
Brazil and Turkey saw the biggest decrease in billionaires over 5 years with 33% of billionaires leaving these countries.
Latona’s is a U.S. Mergers and Acquisitions broker providing services to both investors and entrepreneurs looking to sell and acquire their cash-flow positive businesses.