The ten countries that are home to the most millionaires worldwide have some facts in common. They both feature strong economies, high GDPs, good living standards and strongly developed industries. In the list, the United States sports No. 1 with 5,220,000 millionaire households.
The United States not only has the largest amount of millionaire households but also is the world’s largest economy, almost three times as much as the size of the next biggest, China.
However, there is a growing income gap in the US. In 2009, while the top 20 percent of earners making at least $100,000 a year accounted for half of all income generated in the country, the bottom 20 percent was only 3.4 percent.
Millionaire Households: 5,220,000
The Japanese economy, which relies on strong cooperation between government and private companies, witnesses the remarkable development of major industries including consumer electronics, automobiles, computers, petrochemicals, iron and steel, and pharmaceuticals.
Besides, Japan’s GDP remains high partly thanks to some leading companies like Toyota, Honda, and Sony. Retail magnate Tadashi Yanai, owner of Uniqlo and other brands, and Hiroshi Yamauchi, the man is credited with turning Nintendo into the video game powerhouse today, are among top earners in the country.
Millionaire Households: 1,530,000
The successful transmission from a largely centrally planned economy into market-oriented one helped China’s GDP have increased more than ten times what it was in 1978. Many government-controlled industries like oil, gas, and steel were successfully privatized. China now plays an important role in the world's economy. As of 2010, it is the world’s largest exporter.
Millionaire Households: 1,110,000
Despite the United Kingdom has rich resources of coal, gas and oil, its major GDP sources come from services like insurance, banking and business services. After the Labour Party came into power in 1997 and enacted tax cuts, the number of millionaires increased dramatically. Top earners of this country include Virgin CEO Richard Branson, steel magnate Lakshmi Mittal and Queen Elizabeth.
Millionaire Households: 570,000
Germany, the fifth largest economy in the world, has the fifth largest number of millionaire households and is the leader in some major industries that produce huge amounts of machinery, automobiles, chemicals, etc. The country houses Deutsche Bank, the world’s largest foreign exchange dealer, and Siemens, the largest engineering conglomerate in Europe. BMW heiress Susanne Klatten and the Porsche family are among richest German people.
Millionaire Households: 400,000
In addition to the five above-mentioned countries, the sixth to tenth position respectively belongs to Switzerland, Taiwan, Italy, France and Hong Kong.
Switzerland has 330,000 millionaire households
Taiwan has 280,000 millionaire households
Italy has 270,000 millionaire households
France has 210,000 millionaire households
Hong Kong has 200,000 millionaire households