The countries with the highest concentrations of billionaires

The countries with the highest concentrations of billionaires - "The top 1%" has evolved into a term used to describe almost mythical-like figures who together control almost US$10 trillion, which is more than the GDP of China, the world's second strongest economy.

The world's wealth is increasingly becoming more concentrated at the top, according to a study by the Federal Reserve Bank of St. Louis. Unsurprisingly, the number of billionaires in the world has surged. In 2017, the number reached 2,754, an increase of 14.9%, as reported by The Guardian. Visual Capitalist, a Canadian media and news firm, ranked the countries with the greatest concentration of billionaires per capita.

Are you surprised by the results?

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25. India - People per billionaire: 13,108,911 /
Total number of billionaires: 101
Richest billionaire: Mukesh Ambani /
Company: Reliance Industries Limited /
Net worth: US$40.5 billion (Source: Forbes)

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24. Indonesia - People per billionaire: 13,055,000 /
Total number of billionaires: 20 /
Richest billionaire: Robert Budi Hartono /
Company: Djarum /
Net worth: US$15.2 billion (Source: Forbes)

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23. Mexico - People per billionaire: 8,500,000 /
Total number of billionaires: 18 /
Richest billionaire: Carlos Slim Helú /
Company: Telmex, Grupo Carso /
Net worth: US$63.5 billion (Source: Forbes)

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22. Philippines - People per billionaire: 7,378,571 /
Total number of billionaires: 14 /
Richest billionaire: Henry Sy /
Company: SM Group /
Net worth: US$19.2 billion (Source: Forbes)

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21. Brazil - People per billionaire: 4,830,233 /
Total number of billionaires: 43 /
Richest billionaire: Jorge Paulo Lemann /
Company: 3G Capital /
Net worth: US$25.2 billion (Source: Forbes)

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20. China - People per billionaire: 4,322,884 /
Total number of billionaires: 319 /
Richest billionaire: Wang Jianlin /
Company: Dalian Wanda Group /
Net worth: US$30.2 billion (Source: Forbes)

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19. Japan - People per billionaire: 3,848,485 /
Total number of billionaires: 33 /
Richest billionaire: Masayoshi Son /
Company: SoftBank Group /
Net worth: US$$21.6 billion (Source: Forbes).

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18. Thailand - People per billionaire: 3,443,000 /
Total number of billionaires: 20 /
Richest billionaire: Charoen Sirivadhanabhakdi/
Company: ThaiBev /
Net worth: US$16.9 billion (Source: Forbes)

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17. Turkey - People per billionaire: 2,741,724 /
Total number of billionaires: 29 /
Richest billionaire: Murat Ülker /
Company: Yıldız Holding /
Net worth: US$4.3 billion (Source: Forbes)

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16. Spain - People per billionaire: 1,862,400 /
Total number of billionaires: 25 /
Richest billionaire: Amancio Ortega /
Company: Inditex (Zara) /
Net worth: US$69.5 billion (Source: Forbes)

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15. France - People per billionaire: 1,760,526 /
Total number of billionaires: 38 /
Richest billionaire: Bernard Arnault /
Company: LVMH /
Net worth: US$86.2 billion (Source: Forbes)

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14. Russia - People per billionaire: 1,503,125 /
Total number of billionaires: 96 /
Richest billionaire: Leonid Mikhelson /
Company: Novatek /
Net worth: US$18.2 billion (Source: Forbes)

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13. Italy - People per billionaire: 1,442,857 /
Total number of billionaires: 42 /
Richest billionaire: Maria Franca Fissolo /
Company: Ferrero SpA /
Net worth: US$2.1 billion (Source: Forbes)

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12. South Korea - People per billionaire: 1,348,684 /
Total number of billionaires: 38 /
Richest billionaire: Lee Kun-hee /
Company: Samsung Group /
Net worth: US$20.3 billion (Source: Forbes)

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11. United Kingdom - People per billionaire: 1,215,566 /
Total number of billionaires: 54 /
Richest billionaire: S.P. Hinduja /
Company: Hinduja Group /
Net worth: US$19.3 billion (Source: Forbes)

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10. Canada - People per billionaire: 930,513 /
Total number of billionaires: 39 /
Richest billionaire: David Thomson /
Company: Thomson Reuters Corporation/
Net worth: US$24.4 billion (Source: Forbes)

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9. Taiwan - People per billionaire: 759,677 /
Total number of billionaires: 31 /
Richest billionaire: Terry Gou /
Company: Foxconn Technology Group /
Net worth: US$8.1 billion (Source: Forbes)

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8. Australia - People per billionaire: 731,212 /
Total number of billionaires: 33 /
Richest billionaire: Gina Rinehart /
Company: Hancock Prospecting /
Net worth: US$18.2 billion (Source: Forbes)

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7. Germany - People per billionaire: 725,175 /
Total number of billionaires: 114 /
Richest billionaire: Beate Heister /
Company: Aldi /
Net worth: US$29.7 billion (Source: Forbes)

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6. United States - People per billionaire: 571,858 /
Total number of billionaires: 565 /
Richest billionaire: Jeff Bezos /
Company: Amazon /
Net worth: US$130.3 billion (Source: Forbes)

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5. Israel - People per billionaire: 474,833 /
Total number of billionaires: 18 /
Richest billionaire: Eyal Ofer /
Company: Ofer Global /
Net worth: US$9.2 billion (Source: Forbes)

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4. Sweden - People per billionaire: 319,452 /
Total number of billionaires: 31 /
Richest billionaire: Stefan Persson /
Company: H&M /
Net worth: US$16.1 billion (Source: Forbes)

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3. Singapore - People per billionaire: 267,000 /
Total number of billionaires: 21 /
Richest billionaire: Robert and Philip Ng /
Company: Sino Group /
Net worth: US$10.9 billion (Source: Forbes)

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2. Switzerland - People per billionaire: 232,556 /
Total number of billionaires: 36 /
Richest billionaire: Ernesto Bertarelli /
Company: Waypoint Capital, Merck Serono/
Net worth: US$8.5 billion (Source: Forbes)

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1. Hong Kong - People per billionaire: 109,657 /
Total number of billionaires: 67 /
Richest billionaire: Li Ka-shing /
Company: Cheung Kong Holdings /
Net worth: US$34.2 billion (Source: Forbes)

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Total vs. concentration - The United States outnumbers all other countries in total number of billionaires with a whopping 565. But when measured against its population, the US loses considerable ground. Hong Kong, in turn, boasts 67 billionaires in just one city of about seven million.

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Capital flight - China has been accumulating billionaires rapidly in recent years. However, the country also loses many of its ultra-rich population to capital flight, which means they relocate elsewhere. The countries that lose the most millionaires are France, China, Brazil, India, and Turkey, according to Visual Capitalist.

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Zero billionaires - Of the world's 195 countries, more than 100 are not home to any billionaires. This includes nations like Lithuania, Haiti, Ethiopia, Belarus, and Andorra.

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Billionaires vs. population - In turn, some countries that did make the list, such as India and Indonesia, are home to a number of billionaires but rank low in terms of concentration. The odds of running into a billionaire in either country is 1 in 13 million.

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The countries with the highest concentrations of billionaires

No, it isn't the United States

16/05/18 | StarsInsider

LIFESTYLE Billionaires

Studies show that the world's wealth is increasingly becoming more concentrated at the very top, so it is unsurprising that the number of billionaires in the world has surged. In 2017, the number of billionaires worldwide reached 2,754, an increase of 14.9%, according to The Guardian. But where are they and who are they? Visual Capitalist, a Canadian media and news firm, ranked the countries with the greatest concentrations of billionaires per capita.

Do you want to know which country has the most billionaires? Click through the gallery to find out.