Which cities have the highest number of millionaires?
The world’s wealthiest people are increasingly making their fortunes overseas, according to a new report released Tuesday by the Global Wealth Report, which tracks assets held by global millionaires.
The report estimates that the total assets held of global millionaires have grown from $10.7 trillion in 2014 to $11.1 trillion in 2020, which is an increase of more than 20% compared to the previous year.
The U.S. ranked second on the list, with $1.4 trillion, followed by Hong Kong, Singapore, Japan and France.
The wealth of the richest people is not evenly distributed around the world.
The U.K. has the world’s second highest concentration of millionaires, with 1.6 billion.
China ranked third with 1,846 million, followed closely by the U.A.E., where the U, A, B and C ranks top five.
India came in fourth place with 704,000 millionaires, followed in seventh by China with 662,000.