In this article, we will take a look at 20 countries that have the most billionaires per capita. If you want to skip our analysis of the billionaires' economy you can go directly to 5 Countries that Have the Most Billionaires Per Capita.

Each year wealth transfers from person to person and many billionaires become millionaires and many millionaires become billionaires. Some people inherit generational wealth and have had the privilege to be part of the oldest richest families. Some entrepreneurs build their empires from scratch. Where billionaires contribute massively to the economy, some studies explain the negatives of the billionaire economy. According to Oxfam, billionaires take wealth from other people, they don’t create billions by themselves. The increase in billionaires’ wealth means that we have increasing poverty compared to stimulating economic growth. Since 2020, the top 1% in the world have alone gained two-thirds of new wealth. For the first time in decades, global inequality jumped in 2022. In that premise, the World Bank has signaled that the UN is unlikely to achieve its goal of ending extreme poverty by 2030. Oxfam demands a change of tax policies for the ultra-rich. “The rising levels of global inequality are unacceptable: clearly, it's time for more billionaire-busting policies. Oxfam is demanding wide-ranging increases in taxation of the super-rich, and we call on world governments to tax multi-millionaires and billionaires,” argues Oxfam. 

Global Pandemic and Ukraine War Effects on Billionaires

The COVID-19 pandemic and Russia’s invasion of Ukraine have had a widespread impact on the global economy. In 2022, many things happened in the global economy as wealth markets responded to the reopening of global markets, the Russia-Ukraine war, increasing inflation, and a new monetary policy. World’s richest have also suffered from these extreme events. On May 31, Altrata in Billionaires Census 2023 shared some interesting facts about the billionaire economy. According to the census, billionaires' total net worth dropped by 5.5% to $11.1 trillion in 2022. However, billionaires who experienced double-digit growth in 2021 had a mild effect on their wealth. Among the other findings of the report, it mentioned that three-quarters of billionaires live in the top 15 billionaire countries. This indicates how wealth is concentrated in certain economies around the globe, driven by some of the wealthiest companies.

Where do Billionaires Prefer to Live?

Billionaires prefer to live in places where they can find peace and have the best return on investment. There are many other factors such as good healthcare systems, high-tech applications, business hubs, and luxury spots. The stats show that billionaires like to reside in the most developed cities. On April 4, Forbes reported that the U.S. is home to the most billionaire citizens, with 735 individuals having an accumulated net worth of $4.5 trillion. China remains in the second spot with 495 billionaires, combining $1.67 trillion. India has the third most billionaire citizens with 169 and Germany has 126 billionaires. 

Women Billionaires 

Among the richest people in the world, female billionaires are emerging every year. Women are getting the opportunity to practice their equal rights and emerge as top businesspeople. As we mentioned earlier, self-made female billionaires have proved that women can achieve their dreams in the corporate world. Today, nearly 10% of the women executives represent the top Fortune 500 companies. On April 4, Forbes shared the list of the richest women billionaires in the world and highlighted that there are 337 women billionaires worldwide. The number has increased from 327 in 2022. Some of the richest women in the world include Francoise Bettencourt Meyers, Alice Walton, Julia Koch, and Jacqueline Mars - to name a few. 

Billionaire News

In recent times, the two most prominent billionaires, Elon Musk and Mark Zuckerberg have been the center of attention around the world. In June, the two Big Tech billionaires apparently agreed to appear in a cage fight. It's not decided yet when the fight will take place but if it does, it will be history itself. The stakes between Musk and Zuckerberg's cage fight were potentially driven by Meta Platforms Inc.’s (NASDAQ:META) launch of Threads, a competitor to Twitter. On August 6, Elon Musk signaled that the Zuck vs Musk fight is on. The Twitter owner further in the tweet said, “All proceeds will go to charity for veterans.” Zuckerberg via Threads responded on the same day replying, “Shouldn’t we use a more reliable platform that can actually raise money for charity?”

The hype around the fight between the two billionaires is there and both of them are training to take each other on in a cage. Elon Musk took over Twitter in October 2022 and since then he has revamped the social media platform. From the technical changes to the policy pivots, Twitter is entering a new era. On July 23, Musk tweeted that if a good enough X logo is posted tonight he would change it the next day. And soon the logo was changed to X. The multi-billionaire wants a new identity for the platform and wants to make it more open-source for its users. On July 25, Musk tweeted:

On the other side, Meta Platforms Inc. (NASDAQ:META) has launched Threads to be a text version of Instagram. Built by Instagram’s team, Threads copies the concept of Twitter, where users can share their opinions publicly and post videos on the platform. 

The richest billionaires dominate the tech industry. For instance, Jeff Bezos is one of the richest people in the world with a net worth of $160.4 billion, as of 2023. Bezos owns the e-commerce giant Amazon.com Inc. (NASDAQ:AMZN). Amazon.com Inc.'s (NASDAQ:AMZN) founder has a diverse portfolio. The multi-billionaire also owns the aerospace firm Blue Origin and has investments in companies such as Uber Technologies, Inc. (NYSE:UBER), Workday, Inc. (NASDAQ:WDAY), and Denali Therapeutics Inc. (NASDAQ:DNLI). As we mentioned earlier, Blue Origin is up against the aerospace giants including Space Exploration Technologies Corporation (SpaceX) owned by Elon Musk, and The Boeing Company (NYSE:BA). Bezos’ Blue Origin is yet to make an orbit, whereas its leading competitor SpaceX is way ahead in its approach. Blue Origin is taking a conventional path before it takes a big step while Musk’s SpaceX takes a lot of risk and has experimented with several launches. For instance, SpaceX’s Starship rocket exploded on its inaugural flight back in April. Musk explains this risky approach to understanding the process and unveiling the “unknowns” before taking future flights.

Now that we have provided some insights into what's happening in the billionaire world, let's take a look at the top 20 countries that have the most billionaires per capita.

Our Methodology

To find data for the 20 countries that have the most billionaires per capita, we took the data of countries from the Forbes Database of The Countries With The Most Billionaires in 2023. We then calculated billionaires per capita by dividing the number of billionaires in each country by the population of that country. We took the population data of countries from the World Bank Population Database. The World Bank population database did not have the data on Taiwan, so we took it from the IMF's Population Database which was from 2020. We have ranked these countries in ascending order of billionaires per capita. Here is the list of the 20 countries that have the most billionaires per capita. 

20 Countries that Have the Most Billionaires Per Capita

20. Indonesia

Billionaires Per Capita: 0.00000011

Population: 275.5 Million

Indonesia has 29 billionaires and makes to our list of the countries that have the most billionaires per capita. The richest person in Indonesia is R. Budi Hartono with a net worth of $26.3 billion.

Some of the leading companies that billionaires have invested in and own include Meta Platforms Inc. (NASDAQ:META), Amazon.com Inc. (NASDAQ:AMZN), Uber Technologies, Inc. (NYSE:UBER), Workday, Inc. (NASDAQ:WDAY), and Denali Therapeutics Inc. (NASDAQ:DNLI).

19. India

Billionaires Per Capita: 0.00000012

Population: 1.4 Billion

India ranks 19th on our list of countries that have the most billionaires per capita. The world's largest populated country has 169 billionaires. Mukesh Ambani is the richest person in India with a net worth of $90 billion.

18. Brazil

Billionaires Per Capita: 0.00000024

Population: 215.3 Million

Brazil has 51 billionaires with a total net worth of around $160 billion. Vicky Safra is the richest person in the country with a net worth of $17.7 billion. Brazil ranks among the top countries that have the most billionaires per capita.

17. Japan

Billionaires Per Capita: 0.00000032

Population: 125.1 Million

The richest person in Japan is Tadashi Yanai with a net worth of $36.4 billion. Japan has a total of 40 billionaires and ranks 17th on our list of countries that have the most billionaires per capita.

16. China

Billionaires Per Capita: 0.00000035

Population: 1.4 Billion

China is one of the largest economies in the world and has 495 billionaires. Zhong Shanshan is the richest Chinese with a net worth of $64.5 billion. China is among the leading countries that have the most billionaires per capita.

15. South Korea

Billionaires Per Capita: 0.00000058

Population: 51.6 Million

Michael Kim is the richest South Korean with a net worth of around $9.7 billion. South Korea has 30 billionaires and ranks 15th on our list of countries that have the most billionaires per capita.

14. France

Billionaires Per Capita: 0.00000063

Population: 67.9 Million

France has 43 billionaires and makes to our list of the countries that have the most billionaires per capita. With a net worth of $222.1 billion, Bernard Arnault is the richest French and the second richest person in the world.

13. Russia

Billionaires Per Capita: 0.00000073

Population: 143.5 Million

Russia is one of the largest countries in the world and has 105 billionaires. Andrey Melnichenko is the richest Russian with a net worth of $24.5 billion. Russia is among the leading countries that have the most billionaires per capita.

12. United Kingdom

Billionaires Per Capita: 0.00000078

Population: 66.9 Million

The United Kingdom is ranked 12th on our list of countries that have the most billionaires per capita. There are 52 billionaires in the United Kingdom. The richest person in the country is James Ratcliffe with a net worth of $22.3 billion.

11. Italy

Billionaires Per Capita: 0.00000109

Population: 58.8 Million

Italy has 64 billionaires and ranks among the top countries that have the most billionaires per capita. Giovanni Ferrero is the richest person in the country with a net worth of $39.8 billion.

10. Germany

Billionaires Per Capita: 0.00000150

Population: 84 Million

Germany ranks 10th on our list of countries that have the most billionaires per capita. Germany has 126 billionaires and Dieter Schwarz is the richest person in the country with a net worth of $47.4 billion.

9. Canada

Billionaires Per Capita: 0.00000162

Population: 38.9 Million

Canada has 63 billionaires and makes to our list of the countries that have the most billionaires per capita. The richest Canadian is David Thomson with a net worth of $56.6 billion.

8. Australia

Billionaires Per Capita: 0.00000181

Population: 25.9 Million

Gina Rinehart is the richest Australian with a net worth of around $26.5 billion. Australia has 47 billionaires and ranks eighth on our list of countries that have the most billionaires per capita.

7. Taiwan

Billionaires Per Capita: 0.00000218

Population: 23.8 Million

Taiwan ranks on our list of countries that have the most billionaires per capita. Taiwan has 52 billionaires and brothers Daniel and Richard Tsai are the richest in the country with a net worth of $8.8 billion.

6. United States of America

Billionaires Per Capita: 0.00000221

Population: 333.2 Million

The country with the most billionaires in the world is the United States of America which ranks sixth among the countries that have the most billionaires per capita. The U.S. billionaires contribute $4.5 trillion to the nation’s economy. The richest person in the U.S. is Elon Musk with a net worth of $225 billion. 

Mark Zuckerberg’s Meta Platforms Inc. (NASDAQ:META) is up against Elon Musk’s Twitter with its latest platform, Threads. Whereas, Jeff Bezos continues to make billions of dollars from Amazon.com Inc. (NASDAQ:AMZN) and his investments in Uber Technologies, Inc. (NYSE:UBER), Workday, Inc. (NASDAQ:WDAY), and Denali Therapeutics Inc. (NASDAQ:DNLI). 

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Disclosure: None. 20 Countries that Have the Most Billionaires Per Capita is originally published on Insider Monkey.