TOP 10 COUNTRIES WITH THE MOST BILLIONAIRES IN 2024—INDIA RANKS THIRD GLOBALLY
Top 10 countries with the most billionaires, as of 2024 are as follows. (istock)
Countries with the most billionaires worldwide 2024: The phenomenon of billionaires has been a significant aspect of global wealth distribution, with individuals amassing fortunes that often surpass the GDP of entire nations.
Historically, the world has always had people with incredible wealth, from the opulent lifestyles of Roman emperors to John D. Rockefeller, who became the world’s first billionaire in measurable dollars.
The presence of billionaires is more pronounced than ever today, with Forbes highlighting a record 2,781 billionaires worldwide from 78 countries.
Undoubtedly, the United States emerged in the top position in the global billionaire rankings, featuring 813 billionaires. Elon Musk—the CEO and Founder of Space X and Tesla—once again claimed the title of the richest person in the world, surpassing Bernard Arnault, the Chairman and CEO of LVMH from France.
After the United States, China holds the second spot, even though it lost 155 billionaires compared to last year, with the present billionaire count having 473.
It's worth noting that the U.S. and China combined have nearly half of the 3,279 billionaires worldwide, far surpassing other countries.
India has reached a historic high with 271 billionaires, including 84 newcomers, ranking it third globally. Mukesh Ambani, chairman of Reliance Industries, ranks as the richest Indian at number 11th globally, the only Asian member of the exclusive $100 billion club.
Notably, this year, new and re-entrants from Croatia, Uruguay, and Luxembourg have rejoined the billionaire ranks, while countries like Peru and Macau have seen some of their billionaires drop off.
Luxembourg's Michael Gans, a prominent businessman with an estimated net worth of $1.1 billion, primarily derived from his previous 25% stake in Supreme Group, emerged as the nation's richest citizen.
With the list highlighting the growing diversity and global nature of wealth creation in the 21st century, it's obvious that the world’s largest economies tend to be overrepresented on billionaire counts, as they provide more opportunities for wealth creation.
The Asia-Pacific region has the most billionaire citizens, with 1,000 on the ranks, followed by the Americas (993), Europe (690), and the Middle East & Africa (98).
Top 10 countries with the most billionaires, as of 2024:
| Rank | Country | No. of Billionaires |
| 1 | United States of America | 813 |
| 2 | China | 406 |
| 3 | India | 200 |
| 4 | Germany | 132 |
| 5 | Russia | 120 |
| 6 | Italy | 73 |
| 7 | Brazil | 69 |
| 8 | Canada | 67 |
| 9 | Hong Kong* | 67 |
| 10 | United Kingdom | 55 |
*Hong Kong is an autonomous territory of China.
1. United States of America:
Richest in the USA in 2024: Elon Musk
The United States boasts the largest number of billionaires, totalling 813, up from 735 last year. Their combined wealth has soared to $5.7 trillion, an increase from $4.5 trillion. Elon Musk retains his position as the richest person in the U.S. with a net worth of $195 billion, largely due to his stakes in Tesla and SpaceX.
2. China:
Richest in China in 2024: Zhong Shanshan
Despite having the highest number of billionaires at 406, China has experienced a decline from 495, with a total net worth of $1.3 trillion, down from $1.67 trillion. Zhong Shanshan, the richest individual in China, is valued at $62.3 billion, primarily from his bottled water company, Nongfu Spring, and his investments in pharmaceuticals.
3. India:
Richest in India in 2024: Mukesh Ambani
India has reached a record high of 200 billionaires, up from 169, with a combined net worth of $954 billion, up from $675 billion. Mukesh Ambani leads with a wealth of $116 billion, primarily from his conglomerate Reliance Industries, which has interests in petrochemicals, telecommunications, and retail.
4. Germany:
Richest in Germany in 2024: Klaus-Michael Kuehne
Germany has seen a slight increase in its billionaire count to 132, up from 126, with a total net worth of $644 billion, rising from $585 billion. Klaus-Michael Kühne is the wealthiest German, valued at $39.2 billion, with significant investments in logistics and transportation through his company Kühne + Nagel.
5. Russia:
Richest in Russia in 2024: Vagit Alekperov
Russia continues to have a substantial number of billionaires, now totalling 120, up from 105, with a combined wealth of $537 billion, increased from $474 billion. Vagit Alekperov is the richest Russian, with a net worth of $28.6 billion, primarily from his leadership in the oil and gas industry through Lukoil.
6. Italy:
Richest in Italy in 2024: Giovanni Ferrero
Italy reports 73 billionaires, an increase from 64, and their total wealth has grown to $302 billion from $216 billion. Giovanni Ferrero tops the list with a net worth of $43.8 billion, primarily from his family's ownership of the Ferrero Group, famous for its confectionery products like Nutella and Ferrero Rocher.
7. Brazil:
Richest in Brazil in 2024: Eduardo Saverin
Brazil's billionaire population has increased significantly to 69, up from 51, with a total net worth of $231 billion, up from $160 billion. Eduardo Saverin is the richest Brazilian, valued at $28 billion, largely due to his early investment in Facebook and subsequent ventures in technology and investment.
8. Canada:
Richest in Canada in 2024: David Thomson
Canada has also seen a rise, with 67 billionaires compared to 63 last year, and their collective wealth surged to $315 billion from $245 billion. David Thomson and his family lead the list with a net worth of $67.8 billion, primarily derived from their media empire, including significant stakes in Thomson Reuters.
9. Hong Kong:
Richest in Hong Kong in 2024: Li Ka-shing
In Hong Kong, the billionaire count has grown to 67, up from 66, but the total net worth has decreased to $330 billion from $350 billion. Li Ka-shing remains the wealthiest person there, valued at $37.3 billion, with his wealth stemming from diverse investments in real estate, telecommunications, and retail.
10. United Kingdom:
Richest in UK in 2024: Michael Platt
In the United Kingdom, the total number of billionaires has risen to 55, up from 52 last year, with a combined net worth of $225 billion, an increase from $202 billion. The richest individual in the UK is Michael Platt, whose wealth is estimated at $18 billion. Platt is the co-founder and managing director of BlueCrest Capital Management, a private investment firm that primarily manages his wealth and that of his partners and employees.
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2024-08-05T11:03:53Z dg43tfdfdgfd