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Top 25 Countries Leading in Millionaire Wealth in 2025
United States Continues Its Dominance with Nearly 24 Million Millionaires
The United States remains the global leader with a staggering 23.8 million high-net-worth individuals (HNWIs). Despite economic fluctuations, American wealth accumulation persists, fueled by innovation, technology, and a resilient financial sector. Cities like New York, Los Angeles, and San Francisco continue to be hotspots for wealth creation, attracting entrepreneurs and investors from around the world.
China’s Rapid Growth Propels Its Wealthiest to Over 6 Million
China has cemented its position as a major hub for wealth, boasting about 6.3 million millionaires. The country’s booming tech industry, robust manufacturing sector, and an expanding luxury market have contributed to this growth. Major cities like Shanghai, Beijing, and Shenzhen remain pivotal in driving China’s wealth ecosystem.
Europe Shows Strength with France and Japan Leading the European and Asian Markets
France ranks third globally with 2.9 million millionaires, driven by a strong luxury, fashion, and banking sector.
Japan closely follows, with 2.7 million high-net-worth residents. The nation’s longstanding technological advancements, real estate investments, and cultural industries sustain its millionaire population.
Germany and the UK Maintain Their Positions as Wealth Centers
Germany matches Japan with 2.7 million millionaires, benefiting from its diverse economy, automotive industry, and financial services.
The UK, with 2.6 million, continues to attract wealth through finance, technology, and London’s status as a financial hub despite ongoing geopolitical changes.
Canada and Australia Remain Attractive Destinations for High-Net-Worth Individuals
Canada has over 2.1 million millionaires, with Toronto and Vancouver leading in wealth accumulation—bolstered by natural resources, technology, and real estate.
Australia, home to 1.9 million millionaires, benefits from mining, banking, and a high quality of life that continues to draw affluent residents, especially in Sydney and Melbourne.
Italy and South Korea Hit the 1.3-Million Mark
Italy maintains 1.3 million millionaires, buoyed by fashion, luxury goods, and real estate sectors.
South Korea, also at 1.3 million, is driven by technology, manufacturing, and investment in startups, particularly in Seoul.
The Netherlands and Spain Demonstrate Stable Wealth Growth
The Netherlands’ 1.3 million millionaires benefit from a strong financial sector, international trade, and innovation centers such as Amsterdam.
Spain, with 1.2 million millionaires, continues to grow its wealth, notably in tourism, real estate, and finance sectors.
Switzerland’s Financial Excellence Continues with Over a Million Millionaires
Switzerland maintains its reputation as a global banking and luxury markets hub, with 1.1 million millionaires residing within its borders.
Emerging Economies and Asian Markets Showcase Increasing Wealth Numbers
India edges close to 1 million with 917,000 millionaires, boosted by technology, pharmaceuticals, and a burgeoning middle class.
Taiwan, Hong Kong, and other Asian regions see notable millionaire populations, with Hong Kong at 647,000 and Taiwan at 759,000, reflecting the region’s financial strength and global connectivity.
European Neighbors and Middle Eastern Wealth Generation
Belgium, with nearly 550,000 millionaires, benefits from its strategic location and financial industries.
Sweden and Denmark continue to thrive, holding close to 490,000 and 376,000 millionaires respectively, driven by innovation and high-quality education.
Saudi Arabia and Singapore, key players in the Middle East and Southeast Asia, have 339,000 and 331,000 millionaires, emphasizing their roles in energy, finance, and tech.
Latin America and Russia Maintain Their Presence with Notable Numbers
Brazil and Mexico hold 433,000 and 399,000 millionaires respectively, highlighting growing wealth in Latin America amid regional economic shifts.
Russia’s millionaire count stands at approximately 426,000, reflecting its continued prominence in energy and industrial wealth.
[Insert Image: Chart of Top 25 Countries With Number of Millionaires in 2025]
Key Takeaways
The global millionaire landscape in 2025 underscores continued economic resilience in North America and Asia, while Europe sustains its status through luxury, finance, and innovation. Emerging markets are rapidly catching up, signaling a diversifying and expanding wealth map worldwide.
Source: UBS Global Wealth Report 2025
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