High net worth individuals by country: the 2026 picture.
- About 60 million millionaires worldwide; the US holds almost 40%.
- By count: the US, mainland China and France lead.
- Per capita: Switzerland, Hong Kong, Australia and the US.
- Pick geography by goal: scale (US), density (Switzerland) or growth (the Gulf).
If you are marketing to high net worth individuals, the first question is simply: where are they? The latest UBS Global Wealth Report 2025 puts the global millionaire population at roughly 60 million adults, but they are far from evenly spread, and absolute count tells a very different story from concentration.
By absolute count: the US dominates
The United States, mainland China and France hold the largest millionaire populations. The US is in a league of its own, home to nearly four in ten of the world’s millionaires and adding more than 379,000 new millionaires in 2024 alone. For most luxury and wealth brands, the US is not one market among many; it is the market.
By per capita: a different map
Concentration reshuffles the ranking entirely. Measured per 1,000 adults, the leaders are:
- Switzerland, 145.6 per 1,000, roughly one in seven adults.
- Hong Kong, 96.1 per 1,000.
- Australia, 85.2 per 1,000.
- United States, 84.8 per 1,000.
This matters for efficiency. A campaign in Switzerland or Hong Kong reaches a far denser pool of wealth per head, often with less competition for attention than the saturated US market.
Absolute count tells you where the volume is. Per capita tells you where the wealth is concentrated, and where your spend works hardest.
The growth outlook
Wealth is still compounding. UBS projects the US millionaire population to rise about 16% to 25.4 million by 2028, while China grows roughly 8% to 6.5 million. The fastest-rising hubs sit elsewhere, the Gulf in particular, which we cover in where the wealthy are moving in 2026 and the Gulf wealth magnet briefing.
What this means for marketers
Pick your geography by goal. For scale, the US is unavoidable. For density and efficiency, Switzerland, Hong Kong and Australia punch far above their size. For growth and open competition, look to the rising hubs. Then go a level deeper: the same country contains very different buyers, which is the job of a persona set built for your exact segment. Explore the full picture in our sector intelligence.
Questions, answered.
Which country has the most high net worth individuals?
The United States, home to almost 40% of the world’s roughly 60 million millionaires, far ahead of mainland China and France (UBS, 2025).
Which country has the most millionaires per capita?
Switzerland leads at about 145.6 millionaires per 1,000 adults, followed by Hong Kong, Australia and the United States.
How many millionaires are there in the world?
Roughly 60 million USD millionaires in 2025, and still growing, with the US projected to reach about 25.4 million by 2028 (UBS).
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