The number of multi-millionaires in the world is growing, making up close to 4% of the world total millionaire population.
This is according to a New World Wealth report, which pegs the total number of dollar millionaires in the world at 13 million, with approximately 495,000 of that number classified as multi-millionaires.
Millionaires are individuals with net assets of US$1 million or more, while multi-millionaires are individuals with assets of at least US$10 million.
Over the past 10 years, the number of multi-millioniares has increased by 71%, the group noted, while millionaire numbers increased by 58% over the same period.
The USA is the top ranked country for both classifications of millionaires, with the nation housing 37% of the world’s multi-millionaires and about 33% of the world’s millionaires.
Top millionaire and multi-millionaire countries
However, it’s Hong Kong which takes the city crown for the most multi-millionaires, hosting 15,400 multi-millionaires within its boundaries.
London ranks as the top city for millionaires, with 376,600 millionaires living there.
Top millionaire and multi-millionaire cities
|2||New York||319,700||New York||14,300|
|5||Hong Kong||211,700||Los Angeles||7,400|
Geneva remains the most millionaire-dense city in the world, with a millionaire density of 7.8%, or one in every 13 people.