Royal, grand chateaus, extravagant penthouses, ocean-view properties, exclusive islands are some of the sights which ring a bell in our minds when we think of the places where the world’s richest people may be living. Against the setting of elevated market unpredictability, worldwide trade tensions, and a massive slowdown in economic growth, in the time of COVID-19 pandemic, the consolidated wealth of the world’s billionaires has taken drop by nearly 7% to $8.6 trillion.
Which are the top five countries that are home to the world’s richest people?
Despite the recent slide in stock markets around the globe, the two largest economies on the planet have more billionaires than before. Nearly half of those who made it to the list, are either citizens of the United States or China.
- United States: Leading the pack with 614 billionaires is the United States. It is also the country where the world’s richest person – Jeff Bezos lives. The record-breaking numbers have increased by seven people from last year despite a collective drop in global wealth. Among these billionaires, also lives the world’s wealthiest family, the Waltons and collectively, the billionaires in the US have a net wealth of $3,013 billion.
- China: China’s booming economy has produced a 206% increase in the number of billionaires in the country. The Asian Giant has 389 billionaires, highest for any Asian country. Jack Ma, the co-founder of Alibaba Group is the richest person in China and collectively the billionaires in China have a net wealth of nearly $996 billion.
- Germany: Germany is one of the largest economies in the world and is Europe’s largest economy. The country known for its automatic prowess has the third-most number of billionaires in the world. Germany is home to 146 billionaires and collectively they have a net wealth of nearly $442 billion.
- India: In the past five years, India has seen a massive growth of 116% in the number of billionaires living in the country. According to recent surveys, Mumbai is the most favored city amongst billionaires in India. With 102 billionaires, India is also home to the world’s 6th richest person, Mukesh Ambani. Collectively the billionaires in India have a net wealth of nearly $313 billion.
- Russia: Russia is home to 99 billionaires. Even though Russia’s top billionaires have lost a combined $62 billion since the beginning of the year due to coronavirus chaos in the financial markets, they have a combined wealth of nearly $385 billion.