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Top 10 countries with most multi-millionaires, India ranks 8

Last updated on: August 07, 2014 14:29 IST

Top 10 countries with most multi-millionaires, India ranks 8

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India is home to the eighth largest group of super rich people in the world, as there are as many as 14,800 multi-millionaires in the country.

Moreover, the country's financial capital Mumbai with 2,700 multi-millionaires, is among the top 25 cities globally for multi-millionaires. Hong Kong is the top city and is home to 15,400 ultra rich people.

Though India enjoys a decent 8th position globally, but Mumbai is the only Indian city in the top 30 cities in the world for multi-millionaires.

According to a report by New World Wealth, there are currently just over 13 million-millionaires in the world (as of June 2014) and around 4,95,000 of these individuals can be classified as multi-millionaires.

For the purposes of this study a millionaire is an individual with net assets of $1 million or more, whilst a multi-millionaire is an individual with net assets of at least $10 million.

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Image: Chairman emeritus of Tata Group, Ratan Tata infront of the GoldPlus Tata Nano
Photographs: Reuters

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United States

Rank: 1

Multi-millionaires: 183,500

The United States has the largest number of multi-millionaires in the world.

In terms of US dollar millionaires, which was topped by the USA with 41,05,000 millionaires.

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Image: A view of Los Angeles city.
Photographs: Reuters

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Top 10 countries with most multi-millionaires, India ranks 8

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China 

Rank: 2

Multi-millionaires: 26,600

In terms of US dollar millionaires, China ranks significantly lower on this list at fifth position with 6,08,500 millionaires.

Over the past decade, millionaire and multi-millionaire numbers globally have seen significant growth.

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Image: Zhongguancun, technology hub in Haidian District
Photographs: Shinewood /Wikimedia Commons
Tags: China , India , US

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Germany

Rank: 3

Multi-millionaires: 25,400 

"Millionaire numbers worldwide have gone up by 58 per cent during this period, whilst multi-millionaire numbers have gone up by 71 per cent," the report said. 

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Image: A fireworks display is seen over the Neues Palais (New Palace) during a music festival in the city of Potsdam, south of Berlin.
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United Kingdom

Rank: 4

Multi-millionaires: 21,700 

The higher growth of multi millionaires can be put down to a number of factors including: a widening wealth gap at the top-end, a rising rate of conversion of millionaires into multi-millionaires and strong growth in countries that have a high multi-millionaire to millionaire ratio (like Russia and India), the report said. 

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Image: City Hall, London
Photographs: J P Lon/Wikimedia Commons

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Japan

Rank: 5

Multi-millionaires: 21,000

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Image: Tokyo Metropolitan Government Office.
Photographs: Markus Leupold-Lowenthal /Wikimedia Commons

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Switzerland

Rank: 6

Multi-millionaires: 18,300

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Image: Zuerich Sunrise Tower 1
Photographs: Ikiwaner /Wimikedia Commons

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Hong Kong

Rank: 7

Multi-millionaires: 15,400

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Image: A view of buildings in Hong Kong.
Photographs: Reuters

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Russia

Rank: 9

Multi-millionaires: 11,700

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Image: Moscow city.
Photographs: Reuters

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Brazil

Rank:10

Multi-millionaires: 10,300


Image: A rainbow appears over the sky of the city of Sao Paulo.
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