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Where are the world’s millionaires and how is wealth divided globally?

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Where are the world’s millionaires and how is wealth divided globally?

The world has at least 58 million US dollar millionaires, accounting for 1.5 percent of the global adult population, according to the 2024 UBS Global Wealth Report (PDF), which sampled 56 markets that account for 92 percent of global wealth.

The United States has the highest number of millionaires, with some 21.95 million individuals having wealth in seven figures or more. China comes at a distant second with some 6.01 million millionaires, followed by the United Kingdom (3.06 million), France (2.87 million) and Japan (2.83 million).

UBS defines wealth as the value of financial assets and real assets minus debts held by a household.

Global wealth, in dollar terms, grew by 4.2 percent in 2023 after a decline of 3 percent in 2022, according to UBS.

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“If you think of millionaires or the wealthy in general, there’s kind of an indigenous, core of millionaires that has a strong attachment to the country. Then there is a more mobile element that globally [is able to] fairly easily switch domiciles,” Samuel Adams, an economist at UBS, told Al Jazeera.

By 2028, the UK is expected to lose the most millionaires – nearly one in six of its millionaires will lose that status. The Netherlands is another country set to lose 4 percent of its millionaires by 2028.

“The point here with the Netherlands and the UK that we’re making is that both of these countries already have a lot of millionaires – they have a growing core. But then you have a very mobile [element] working around that. And it might be that, in the global competition for wealth, they could see some outflows of the more mobile element of the wealthy. Which doesn’t necessarily mean the economy isn’t working. There’s still wealth being created in those countries. It’s just that the people who are mobile might consider all the places that they want to domicile to.”

How is wealth divided globally?

Almost half of the world’s wealth, 47.5 percent or $213 trillion, is held by just 1.5 percent of the global adult population, according to the Global Wealth Report. These are households that hold more than $1m.

In contrast, those with a wealth of less than $10,000 hold just 0.5 percent ($2.4 trillion) of global wealth, but make up 39.5 percent of the world’s adults.

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Households with a wealth of between $10,000 and $100,000, representing 42.7 percent of adults, account for 12.6 percent of global wealth or $56.2 trillion.

INTERACTIVE- How is wealth divided globally--JULY22-2024-1721899027

The fastest-growing millionaires (2000-23)

In terms of wealth per adult, the world’s population has made substantial progress since the beginning of the millennium. The percentage of adults whose wealth exceeds $1m tripled from 0.5 percent to 1.5 percent.

Since 2000, Qatar saw the greatest increase in the number of millionaires, which rose from 46 to 26,163. China saw the second largest increase, from 39,000 to 6,013,282 millionaires, followed by Kazakhstan (918 to 44,307).

INTERACTIVE Where most increase millionaires-1721899023

“I think it’s important to appreciate that in general, wealth grows kind of proportionate to economic growth, as well as kind of vaguely to asset price growth,” Adams said.

“Emerging market economies such as China, especially if we think back to the 2000s, which was in a very different stage, Russia equally, tend to see more wealth growth in general, and then it also helps if you have a certain concentration in a sector, for example, that sees particular growth. So commodity exporters – thinking of Russia, but also some Middle Eastern countries – tend to see very fast accumulation of wealth, particularly in the top 10 percent of the wealth bracket, which supports millionaire growth.”

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UBS said over that the 15 years that it has published its report, the Asia Pacific region has posted the biggest growth in wealth, up almost 177 percent, followed by the Americas at nearly 146 percent, while Europe, the Middle East and Africa (EMEA) was up just 44 percent.

The highest share of millionaires

The US hosts 38 percent of the world’s millionaires, Western Europe 28 percent and China 10 percent.

By country, in percentage terms, Switzerland has the highest share of millionaires, with 12 in every 100 people having a wealth of more than $1m. This is followed by Hong Kong, where eight in every 100 people are millionaires, Australia (seven in 100), the Netherlands (seven in 100) and the US (six in 100).

INTERACTIVE Where highest population share of millionaires-1721899019

Explore the table below to see how millionaire wealth has changed in different countries.

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Video: Nowhere Feels Safe As Israel Strikes Heart of Beirut

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Video: Nowhere Feels Safe As Israel Strikes Heart of Beirut

new video loaded: Nowhere Feels Safe As Israel Strikes Heart of Beirut

When a residential building in downtown Beirut was destroyed by an Israeli airstrike, Samira Osseili fled with her family in the middle of the night. She’s now living in fear with 12 other relatives in her small apartment, knowing that another strike could come at any moment.

By Simona Foltyn, Adrian Hartrick, Michael Anthony Adams and Caroline Kim

March 26, 2026

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US troops brace for ‘hit-and-run’ guerilla attacks as 82nd Airborne deploys to Iran, military analyst warns

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US troops brace for ‘hit-and-run’ guerilla attacks as 82nd Airborne deploys to Iran, military analyst warns

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Iran could significantly increase U.S. casualties if its elite military and proxy forces shift to guerrilla-style hit-and-run attacks in the region, a leading military analyst has warned.

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Michael Eisenstadt of the Washington Institute for Near East Policy spoke as the Pentagon moved elements of the Army’s 82nd Airborne Division into the Middle East amid a new escalation in the conflict, according to reports.

“Iran has large infantry units in its military that are equivalent to the brigade combat team of the 82nd Airborne,” Eisenstadt, a former U.S. Army Reserve officer, told Fox News Digital.

“The 82nd Force is too small to cause significant harm to Iran, but it is large enough to be vulnerable to Iranian strikes, and this would enable Iran to significantly increase U.S. casualties,” he said.

HEGSETH WARNS ‘MORE CASUALTIES’ EXPECTED IN OPERATION EPIC FURY AGAINST IRAN

The 82nd Airborne Division deployment to the Middle East is intended to pressure Iran into accepting U.S. ceasefire terms, military analyst Michael Eisenstadt says. (Sarah Blake Morgan/AP Photo)

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Eisenstadt, who has worked as a U.S. government military analyst, claimed that, even if major conventional operations begin to wind down in the Middle East region, the danger may only evolve rather than disappear.

“We could see an end to major combat operations, with activity shifting to guerrilla-style hit-and-run attacks in the Gulf and other gray-zone activities by Iran,” he said.

“Think of the aftermath of the 1991 Gulf War with Iraq, in which we had to contain the Iraqis for a decade after a very successful war.”

US COULD TAKE IRAN’S MAIN OIL EXPORT HUB ‘AT A TIME OF OUR CHOOSING,’ JACK KEANE SAYS

Naval units from Iran and Russia simulate the rescue of a hijacked vessel during joint drills, Feb. 19, at the Port of Bandar Abbas in Hormozgan, Iran. (Iranian Army/Handout/Anadolu via Getty Images)

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Fox News chief national security correspondent Jennifer Griffin reported Wednesday that the U.S. has ordered the deployment of an additional 82nd Airborne forces to the region.

The contingent is expected to include Maj. Gen. Brandon R. Tegtmeier, the division commander, elements of his headquarters staff, and infantry battalions from the division’s Immediate Response Force. 

Officials also indicated that the total number of troops ultimately sent could still change.

Eisenstadt said this new deployment is intended to increase pressure on Tehran as the U.S. pushes for new ceasefire terms, set in place by President Donald Trump.

WINNING THE BATTLES, LOSING THE WAR? AMERICA MUST DEFINE THE ENDGAME IN IRAN

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President Donald Trump speaks with the media before boarding Air Force One, Monday, at Palm Beach International Airport in West Palm Beach, Fla. (Mark Schiefelbein/AP Photo)

“This deployment is intended to create leverage over Iran and pressure it to accept U.S. terms for a ceasefire agreement. It would also create military options if Iran rejects those terms,” he said.

In that scenario, he said, the 82nd could potentially operate alongside Marine expeditionary units in operations to seize and hold terrain, including Kharg Island, located roughly 20 miles off Iran’s Gulf coast.

U.S. forces struck military targets there March 13, destroying more than 90 Iranian military sites while deliberately sparing key oil infrastructure, according to multiple reports.

IRAN’S REMAINING WEAPONS: HOW TEHRAN CAN STILL DISRUPT THE STRAIT OF HORMUZ

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Satellite view of Kharg Island, located in the Persian Gulf off the coast of Iran.  (Gallo Images/Orbital Horizon/Copernicus Sentinel Data 2024)

“The brigade combat team of the 82nd could work with the 11th and 31st MEUs, or independently, to seize and hold terrain — such as Kharg Island,” Eisenstadt said.

“This would provide leverage over Iran by denying it the ability to export oil and helping end the war on terms favorable to the U.S.”

“There are risks involved though, because Iranian units on the mainland could bombard Kharg Island and inflict casualties on U.S. troops there also,” Eisenstadt said.

JACK KEANE WARNS CEASEFIRE WITH IRAN WOULD ‘PLAY RIGHT INTO THEIR HANDS’ AS TRUMP SIGNALS DEAL PROGRESS

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President Donald Trump warned on Saturday that the U.S. could strike Iranian power plants if the Strait of Hormuz is not reopened. (Aaron Schwartz/UPI/Bloomberg via Getty Images; Gallo Images/Orbital Horizon/Copernicus Sentinel Data 2025 via Getty Images)

The latest military buildup comes as the conflict that began with Operation Epic Fury on Feb. 28, has also centered on the Strait of Hormuz, with Iran restricting access.

“The 82nd deployment is intended to increase psychological pressure on Iran and support efforts to reopen the Strait of Hormuz so it can once again be used by all countries,” Eisenstadt explained.

The 82nd Airborne is one of the U.S. military’s premier rapid-response units, trained to parachute into hostile or contested territory to secure key ground and airfields.

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Portions of the division have also spent recent days at the Joint Readiness Training Center, sharpening infiltration, surveillance, combat and resupply skills, Axios reported.

“Iranian military officials have welcomed news of the dispatch of these units to the Gulf because it potentially creates options for them to impose costs on the U.S.,” Eisenstadt said.

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Escalation in the Middle East – Not Europe’s war? MEPs in the Ring

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Escalation in the Middle East – Not Europe’s war? MEPs in the Ring

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Imagine a former five-star army general in the same room as an anti-war activist? That is what we witness on this latest edition of The Ring, Euronews’ weekly debate show.

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Riho Terras, an Estonian general and centre-right MEP, went face-to-face with far-left Turkish-born German MEP Özlem Demirel on the role of the EU in the ongoing war in the Middle East.

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As the conflict enters its fourth week, EU leaders have called for “de-escalation, the protection of civilians, and restraint,” while avoiding direct involvement. But the question of whether Brussels should take a stronger stance has exposed deep divisions.

“We know from history that military means and wars never brought democracy to this region,” Demirel said, adding starkly: “Bombs fall, the stock markets rise, people die.”

Riho Terras disagreed and took a more security-focused line, defending the need for military strength in global politics. “Nobody listens to somebody who does not have military means,” he argued, stressing that diplomacy alone is insufficient without power behind it.

This episode of The Ring is anchored by Méabh Mc Mahon, produced by Luis Albertos and Amaia Echevarria, and edited by Vassilis Glynos.

Watch The Ring on Euronews TV or in the player above and send us your views by writing to thering@euronews.com

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