How Many People are Millionaires in the World?

How Many People are Millionaires in the World?

Being a millionaire, or having a net worth valuation of $1 million or more, represents a level of wealth unattainable for most people. According to Credit Suisse’s 2021 Global Wealth Report, there are estimated to be over 46 million millionaires worldwide. This equates to just under 1% of the global adult population holding millionaire status.

The United States continues to host the highest concentration of millionaires globally, with over 22 million individuals whose assets exceed $1 million in value. Other nations with significant millionaire populations include China, Japan, Germany, the United Kingdom, France, Canada, Australia, Switzerland, Italy and South Korea.

Let’s take a closer look at some of the notable people who have achieved millionaire status worldwide:

Millionaires by Region

North America

North America
  • Jeff Bezos – Born in New Mexico, Bezos is the founder and CEO of Amazon. He is currently the world’s richest person with a $167 billion net worth.
  • Elon Musk – Originally from South Africa, Musk is the CEO of Tesla Motors and SpaceX. His net worth is around $151 billion.
  • Bill Gates – The Seattle native co-founded Microsoft and has a net worth of $124 billion. Gates is also known for his philanthropy.
  • Mark Zuckerberg – Born in New York, Zuckerberg co-founded Facebook and has amassed a $67 billion fortune.
  • Warren Buffett – The legendary Nebraska investor has a net worth of over $100 billion through his holding company Berkshire Hathaway.


Europe Map
  • Bernard Arnault – The French billionaire behind luxury brands like Louis Vuitton has a net worth of $138 billion.
  • Amancio Ortega – The Spanish founder of clothing chain Zara has $55 billion in net assets.
  • Françoise Bettencourt Meyers – The French heiress and L’Oreal shareholder has a $49 billion fortune.
  • François Pinault – The French luxury retail mogul behind brands like Gucci has amassed $42 billion.
  • Mikhail Prokhorov – The Russian precious metals investor is worth $18 billion.


Asia Map
Image created WIKI
  • Mukesh Ambani – The Indian industrialist behind conglomerate Reliance Industries is worth $90 billion.
  • Gautam Adani – Another Indian tycoon, Adani has accumulated $85 billion through ports, coal mining, and other ventures.
  • Zhong Shanshan – The Chinese billionaire founder of bottled water giant Nongfu Spring has a net worth of $65 billion.
  • Zhang Yiming – Born in China, Zhang founded TikTok app developer ByteDance and has $50 billion in assets.
  • Lee Shau Kee – The Hong Kong real estate mogul has built a net worth estimated at $31 billion.

Latin America

  • Eduardo Saverin – The Brazil-born co-founder of Facebook has $10 billion in net assets.
  • Jorge Paulo Lemann – This investor behind brewing giant AB InBev has a net worth of $15 billion.
  • Carlos Slim Helu – The Mexican businessman is worth $52 billion through firms like America Movil.
  • Iris Fontbona – The Chilean widow of a mining tycoon has a $19 billion fortune.
  • Ernesto Bertarelli – The Swiss-Italian pharmaceuticals heir has $15 billion in net wealth.

The diverse backgrounds and industries of these millionaires illustrate how different talents, skill sets, and circumstances can drive extreme wealth accumulation worldwide.

Also read: How Many UK Millionaires Govt

Millionaire Demographics

Analyzing the demographics of the global millionaire population reveals several interesting trends:

  • The average age of millionaires is approximately 62 years old. Building significant wealth often requires decades of work, investment, and asset appreciation.
  • Over 65% of millionaires are self-made, having built their wealth in their lifetime rather than inheriting family fortunes. Drive and ingenuity play major roles.
  • Over 75% of millionaires are men, reflecting gender wealth disparities present worldwide. However, women are slowly closing wealth and income gaps.
  • Around 10% of global millionaires are under age 50. Younger high-net-worth individuals often come from finance, technology, entertainment, or sports.
  • The U.S. has a higher proportion of young millionaires at 15% under 50, benefitting from thriving tech and startup ecosystems.
  • Only around 10% of affluent families globally can maintain millionaire status for three generations. Sustaining wealth requires financial savvy.
  • Millionaires tend to concentrate in major metropolitan areas which offer higher incomes and more wealth creation opportunities.

Self-Made Millionaire Success Stories

Self-made millionaires who worked their way up from modest beginnings include:

  • Jan Koum – The Ukrainian-born tech entrepreneur co-founded WhatsApp, which sold to Facebook for $19 billion in 2014. His net worth stands at $8 billion.
  • Howard Schultz – Schultz grew up in Brooklyn housing projects but went on to build Starbucks into a global coffee empire. He has a net worth of $4 billion.
  • Oprah Winfrey – Born into poverty in Mississippi, Winfrey became America’s wealthiest African-American of the 20th century with a $2.6 billion fortune.
  • Ralph Lauren – The son of immigrant parents, Lauren built a multi-billion dollar fashion empire starting with a line of neckties. He is worth $5.5 billion.
  • Guy Laliberté – The Canadian college dropout pioneered the Cirque du Soleil circus company and has $1.6 billion in assets.
  • Andrea Reyes – A college dropout, Reyes went on to build a $950 million skincare line under L’Occitane en Provence.
  • Kenny Troutt – The founder of long-distance phone company Excel Communications built assets of $1.5 billion starting with a $250 initial investment.

These inspiring individuals show how grit and perseverance can pay off for those with vision and determination.

Also read: How Many Millionaires Countries Are There in the World?

Certain industries produce more millionaires due to high earning potential:

  • Finance – Hedge funds, investment banking, venture capital, private equity, and wealth management have heavy concentrations of millionaires.
  • Technology – Innovators and executives at firms like Apple, Microsoft, Alphabet, Meta and Netflix commonly become wealthy.
  • Entertainment – Sports, movies, music, and television offer paths to extreme wealth and celebrity.
  • Real Estate – Property investors and developers frequently attain high net worths, often converting equity into new ventures.
  • Healthcare – Doctors, surgeons, and other practitioners in high-demand specialties regularly gain millionaire status.
  • Energy – Founders and CEOs of oil, gas, and coal firms tend to accumulate substantial fortunes.
  • Manufacturing – Builders of globally scaled brands in automotive, aviation, machinery, chemicals, and diversified sectors amass wealth.

In addition to these sectors, old-money families often retain wealth for multiple generations. Overall, the nearly 47 million millionaires in the world reflect tremendous diversity in origins and earning potential through determination and success.

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