Table of contents
- Millionaire statistics at a glance
- How many millionaires there are
- Where the world’s millionaires live
- How wealth is distributed across bands
- What the 2028 forecasts suggest
- Wealth mobility and inheritance
- What the sample size means
Millionaire statistics at a glance
The latest millionaire statistics snapshot shows a world where millionaire wealth is both highly concentrated and still expanding across many markets.
Fast facts
- 58 million adults had more than USD 1 million in wealth in 2023, and they held USD 213.8 trillion of wealth (UBS Global Wealth Report 2024).
- Millionaires controlled 47.5% of global wealth in 2023, even though they represented only 1.5% of the adult population analyzed (UBS Global Wealth Report 2024).
- The United States had nearly 22 million millionaires in 2023, or 38% of the world’s millionaires (UBS Global Wealth Report 2024).
- Mainland China had just over 6 million millionaires in 2023 and ranked second globally, while the United Kingdom ranked third (UBS Global Wealth Report 2024).
- By 2028, millionaire counts are expected to rise in 52 of the 56 markets surveyed (UBS Global Wealth Report 2024).
Big number: The millionaire band held nearly half of all global wealth in 2023, while still representing a very small share of adults (UBS Global Wealth Report 2024).
How many millionaires there are
The headline number is simple, but the implications are larger: millionaire wealth sits at the top of a global distribution that still includes billions of adults below that threshold.
In 2023, the global wealth pyramid included 58 million adults with more than USD 1 million in wealth (UBS Global Wealth Report 2024). That group was large enough to represent a distinct wealth tier, yet small enough to account for only 1.5% of the adult population analyzed (UBS Global Wealth Report 2024).
The scale becomes clearer when you compare it with the broader population bands in the report:
- 1.488 billion adults were in the USD 100,000 to USD 1 million band in 2023 (UBS Global Wealth Report 2024).
- 1.608 billion adults were in the USD 10,000 to USD 100,000 band in 2023 (UBS Global Wealth Report 2024).
- 613 million adults were below USD 10,000 in wealth in 2023 (UBS Global Wealth Report 2024).
These three groups make it easier to see why millionaire statistics matter. The millionaire segment is small in headcount but massive in asset ownership, and it sits above a very large middle wealth tier that contains more than 1.4 billion adults.
Key millionaire statistics in one table
| Measure | 2023 value | Source label |
|---|---|---|
| Adults with more than USD 1 million in wealth | 58 million | UBS Global Wealth Report 2024 |
| Share of adult population analyzed | 1.5% | UBS Global Wealth Report 2024 |
| Wealth held by millionaires | USD 213.8 trillion | UBS Global Wealth Report 2024 |
| Share of global wealth held by millionaires | 47.5% | UBS Global Wealth Report 2024 |
| Adults with USD 100,000 to USD 1 million | 1.488 billion | UBS Global Wealth Report 2024 |
| Adults with USD 10,000 to USD 100,000 | 1.608 billion | UBS Global Wealth Report 2024 |
| Adults below USD 10,000 | 613 million | UBS Global Wealth Report 2024 |
Why that concentration matters
The millionaire band held USD 213.8 trillion in 2023, while the USD 100,000 to USD 1 million band held USD 177.2 trillion and the USD 10,000 to USD 100,000 band held USD 56.5 trillion (UBS Global Wealth Report 2024).
That means the top two wealth bands together controlled the bulk of global wealth. The millionaire band alone held 47.5%, while the next band held 39.4% (UBS Global Wealth Report 2024). Even before you reach the billionaire segment, wealth distribution is already heavily tilted toward the upper end of the pyramid.
Where the world’s millionaires live
Country concentration is one of the most important millionaire statistics because it shows how uneven wealth creation and accumulation can be across markets.
The United States stands out clearly. It had nearly 22 million millionaires in 2023, and that represented 38% of the world’s millionaires (UBS Global Wealth Report 2024). Mainland China followed with just over 6 million millionaires, and the United Kingdom ranked third globally (UBS Global Wealth Report 2024).
That top-three structure matters because it shows how much the millionaire population is concentrated in a small set of large economies.
Top markets by millionaire count
| Market | 2023 position or count | 2028 forecast | Source label |
|---|---|---|---|
| United States | Nearly 22 million; 38% of world total | 25,425,792 | UBS Global Wealth Report 2024 |
| Mainland China | Just over 6 million; ranked 2nd | 6,505,669 | UBS Global Wealth Report 2024 |
| United Kingdom | Ranked 3rd | 2,542,464 | UBS Global Wealth Report 2024 |
| France | Noted among major markets | 3,322,460 | UBS Global Wealth Report 2024 |
| Japan | Noted among major markets | 3,625,208 | UBS Global Wealth Report 2024 |
| Germany | Noted among major markets | 3,229,283 | UBS Global Wealth Report 2024 |
| Canada | Noted among major markets | 2,402,200 | UBS Global Wealth Report 2024 |
| Australia | Noted among major markets | 2,334,015 | UBS Global Wealth Report 2024 |
| South Korea | Noted among major markets | 1,643,799 | UBS Global Wealth Report 2024 |
| India | Noted among major markets | 1,061,463 | UBS Global Wealth Report 2024 |
A few market-level takeaways stand out from the forecasts:
- The United States remains the largest millionaire market by a wide margin, and it is forecast to reach 25,425,792 millionaires by 2028 (UBS Global Wealth Report 2024).
- Mainland China is forecast to reach 6,505,669 millionaires by 2028, preserving its place as the second-largest market (UBS Global Wealth Report 2024).
- The United Kingdom is forecast to fall to 2,542,464 millionaires by 2028 even while remaining a major millionaire market (UBS Global Wealth Report 2024).
- Germany, Japan, France, Canada, and Australia all stay in the multi-millionaire club at the country level in the forecast, which underscores how broad the upper-wealth tier is across advanced economies (UBS Global Wealth Report 2024).
Notable market comparisons
A few of the forecast changes are worth reading carefully.
- Japan is forecast to reach 3,625,208 millionaires by 2028, placing it above France and Germany in the projection set (UBS Global Wealth Report 2024).
- France is forecast to reach 3,322,460 millionaires, while Germany is forecast to reach 3,229,283 (UBS Global Wealth Report 2024).
- Canada is forecast to reach 2,402,200, ahead of Australia at 2,334,015 (UBS Global Wealth Report 2024).
- South Korea is forecast to reach 1,643,799, and India is forecast to reach 1,061,463 (UBS Global Wealth Report 2024).
- Switzerland is forecast to reach 1,253,334, while Hong Kong SAR is forecast to reach 737,716 and Singapore 375,725 (UBS Global Wealth Report 2024).
These comparisons show that millionaire growth is not limited to the largest economies. Several smaller but wealthy markets remain prominent in the global millionaire map.
How wealth is distributed across bands
Millionaire statistics make more sense when you compare them with the rest of the wealth pyramid.
In 2023, the report shows a clear stacking pattern across wealth levels:
- Under USD 10,000: 39.7% of adults, down from 75.2% in 2000 (UBS Global Wealth Report 2024).
- USD 10,000 to USD 100,000: 42.7% of adults, up from 16.9% in 2000 (UBS Global Wealth Report 2024).
- USD 100,000 to USD 1 million: 16.3% of adults, up from 7.5% in 2000 (UBS Global Wealth Report 2024).
- Above USD 1 million: 1.5% of adults, up from 0.5% in 2000 (UBS Global Wealth Report 2024).
Band-by-band comparison
| Wealth band | Share of adults in 2023 | Share in 2000 | Direction |
|---|---|---|---|
| Under USD 10,000 | 39.7% | 75.2% | Fell sharply |
| USD 10,000 to USD 100,000 | 42.7% | 16.9% | More than doubled |
| USD 100,000 to USD 1 million | 16.3% | 7.5% | More than doubled |
| Above USD 1 million | 1.5% | 0.5% | Tripled |
The shift is striking. The under-USD 10,000 band lost more than half its share since 2000, while the millionaire band tripled in share (UBS Global Wealth Report 2024).
What the wealth mix says
The report also provides total wealth by band in 2023:
- The USD 100,000 to USD 1 million band held USD 177.2 trillion and accounted for 39.4% of global wealth (UBS Global Wealth Report 2024).
- The USD 10,000 to USD 100,000 band held USD 56.5 trillion and accounted for 12.6% of global wealth (UBS Global Wealth Report 2024).
- The under-USD 10,000 band held USD 2.4 trillion and represented 0.5% of global wealth (UBS Global Wealth Report 2024).
That structure shows a steep wealth ladder rather than a smooth middle. The upper-middle tier is large in population and wealth, but the millionaire tier still dominates total assets.
A useful way to read the distribution
If you are scanning millionaire statistics for context, the key point is not just how many millionaires exist. It is how the entire distribution has changed:
- The low-wealth share has shrunk materially since 2000.
- The middle wealth bands have expanded.
- The millionaire band has grown from a tiny sliver to a much larger sliver, while retaining a disproportionate share of wealth.
That combination helps explain why millionaire counts can rise even when wealth remains concentrated.
What the 2028 forecasts suggest
The 2028 projections point to continued millionaire growth in most markets, with a few notable exceptions.
The report says the number of adults with more than USD 1 million is expected to rise in 52 of the 56 markets surveyed by 2028 (UBS Global Wealth Report 2024). That is a broad-based growth pattern, not a narrow one.
Forecast highlights
- The United States is forecast to reach 25,425,792 millionaires by 2028 (UBS Global Wealth Report 2024).
- Mainland China is forecast to reach 6,505,669 (UBS Global Wealth Report 2024).
- France is forecast to reach 3,322,460 (UBS Global Wealth Report 2024).
- Japan is forecast to reach 3,625,208 (UBS Global Wealth Report 2024).
- Germany is forecast to reach 3,229,283 (UBS Global Wealth Report 2024).
- Canada is forecast to reach 2,402,200 (UBS Global Wealth Report 2024).
- Australia is forecast to reach 2,334,015 (UBS Global Wealth Report 2024).
- South Korea is forecast to reach 1,643,799 (UBS Global Wealth Report 2024).
- India is forecast to reach 1,061,463 (UBS Global Wealth Report 2024).
- Switzerland is forecast to reach 1,253,334 (UBS Global Wealth Report 2024).
Markets that do not simply rise
Not every market moves upward in the same way:
- The United Kingdom is forecast to fall to 2,542,464 millionaires by 2028 (UBS Global Wealth Report 2024).
- The Netherlands is forecast to fall to 1,179,328 millionaires by 2028 (UBS Global Wealth Report 2024).
- Greece is forecast to stay around 80,295 millionaires by 2028 (UBS Global Wealth Report 2024).
- Türkiye is forecast to rise to 87,077 millionaires by 2028 (UBS Global Wealth Report 2024).
- Taiwan’s millionaire count is forecast to rise by 50% by 2028 (UBS Global Wealth Report 2024).
These forecast differences are a reminder that millionaire growth is local, not universal. Country structure, wealth accumulation patterns, and market composition all shape the outcome.
Wealth mobility and inheritance
A common assumption about millionaire statistics is that people stay fixed in their wealth bands. The report suggests the opposite: movement is possible, and in some cases it is surprisingly fast.
Among one cohort studied, the report says the average individual in the lowest wealth quintile can occasionally jump straight into the third quintile within 10 years, at a rate of 7.7% (UBS Global Wealth Report 2024). In that same cohort, 2.4% moved from the lowest quintile to the fourth quintile within 10 years, and 1.6% jumped from the lowest to the highest quintile within 10 years (UBS Global Wealth Report 2024).
The report also states that about one in three individuals moves into a higher wealth band within a decade (UBS Global Wealth Report 2024).
Inheritance and the next generation
The wealth transfer figures are especially relevant for understanding future millionaire statistics.
- USD 83.5 trillion of wealth is expected to transfer over the next 20 to 25 years (UBS Global Wealth Report 2024).
- USD 9 trillion of that is expected to move horizontally between spouses (UBS Global Wealth Report 2024).
- More than 10% of the USD 83.5 trillion wealth transfer is likely to go to the next generation via women (UBS Global Wealth Report 2024).
- Women outlive men by just over 4 years on average (UBS Global Wealth Report 2024).
- The inheriting spouse is expected to hold inherited wealth for 5 years on average before passing it on (UBS Global Wealth Report 2024).
These figures show why millionaire counts are not just a snapshot of current wealth. They also reflect how assets are likely to move across generations and between spouses.
What the sample size means
The report’s market sample is broad enough to support the headline comparisons, but it is still useful to keep the scope in view.
The sample covers 56 markets and USD 487,915 billion of total wealth in 2022 in the report’s market sample (UBS Global Wealth Report 2024).
That context matters because it tells you the millionaire statistics are based on a large, multi-market dataset rather than a narrow slice of the world economy. The result is a cleaner way to compare country positions, wealth bands, and forecast direction without treating any one market as the whole story.
Reading the numbers correctly
A practical way to interpret these millionaire statistics is to separate them into three layers:
- Headcount: how many millionaires exist in a market or globally.
- Concentration: how much wealth they hold relative to the rest of the population.
- Movement: whether the counts are forecast to rise or fall by 2028.
That three-part view is what makes the dataset useful. It shows that millionaire wealth is large, concentrated, and still dynamic at the same time.