The number of billionaires a country has is no accurate measurement of the overall growth, wealth or well-being of a nation. However, it does speak well for that country. Also, it has been seen that countries with more billionaires are usually big countries having massive economic clout. Detailed below are the countries with the most billionaires in 2020.
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Countries With Most Billionaires In 2020
We have used Forbes’ data on billionaires to come up with the countries with the most billionaires in 2020. A point to note is that the list of countries with the most billionaires has largely remained unchanged over the past few years and is very predictable as well. Following are the countries with the most billionaires in 2020:
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France (39)
Many of the billionaires in the country belong to the luxury and fashion business. The total net worth of the billionaires in the country is $304 billion, down $26 billion from 2019. Bernard Arnault, with a net worth of $76 billion, was the richest person in the country last year. Arnault is the CEO of LVMH, a conglomerate specializing in luxury goods.
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Canada (44)
In 2019, Canada had 45 billionaires. The total net worth of the billionaires in the country is $143 billion, down $10 billion from 2019. David Thomson, with a net worth of $31.6 billion, was the richest person in the country last year. Thomson made his wealth through a media and publishing empire, which was founded by his grandfather Roy Thomson.
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United Kingdom (45)
The total net worth of the billionaires in the country is $153 billion, down $29 billion from 2019. Len Blavatnik, with a net worth of $17 billion, was the richest person in the country last year. Blavatnik made most of his wealth by investing in several companies through his conglomerate company, Access Industries.
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Brazil (45)
São Paul is home to many billionaires in Brazil. Most billionaires in the country have made a fortune through beer and investment ventures. The total net worth of the billionaires in the country is $127 billion, down $53 billion from 2019. Joseph Safra, with a net worth of $19.9 billion, was the richest person in the country last year. Safra is also the richest banker in the world.
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Hong Kong (66)
Twenty-four of the 66 billionaires in the country saw an increase in their wealth, while 22 witnessed a drop in their net worth last year. The total net worth of the billionaires in the country is $300 billion, down $20 billion from 2019. Shau Kee Lee, with a net worth of $28.1 billion, was the richest person in the country last year. Lee, who grew up in a poor family, has a rags-to-riches story.
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Russia (99)
Moscow is home to more than half of Russia’s billionaires. The total net worth of the billionaires in the country is $385 billion, down $36 billion from 2019. Vladimir Potanin, with a net worth of $19.7 billion, was the richest person in the country last year. Potanin, who bought a stake in Norilsk Nickel in 1995, now owns over a third of the empire.
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India (102)
India’s financial capital Mumbai houses the most number of billionaires in the country. The total net worth of the billionaires in the country is $313 billion, down $93 billion from 2019. Mukesh Ambani, with a net worth of $36.8 billion, was the richest person in the country last year. A 2017 report from Business Today noted that the top 1% held 73% of the country’s wealth.
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Germany (107)
Germany had seven fewer billionaires last year compared to the previous year. The total net worth of the billionaires in the country is $447 billion, down $54 billion from 2019. Beate Heister & Albrecht Jr., with a net worth of $33 billion, was the richest person in the country last year. Other notable billionaires in the country are Susanne Klatten of BMW, Walter PJ Droege of Droege Group and others.
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China (389)
Shenzhen and Hangzhou are home to the most number of billionaires in China. The total net worth of the billionaires in the country is $1.2 trillion, up $220 billion from 2019. In fact, China is the only country in the list that saw a rise in the aggregate net worth of billionaires. Jack Ma, with a net worth of $48 billion, was the richest person in the country last year.
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United States (614)
The U.S. has been leading the list of billionaires for the past many years now. In the country, New York City, San Francisco and Los Angeles are home to the most number of billionaires. The total net worth of the billionaires in the country is $2.9 trillion, down $164 billion from 2019. Jeff Bezos, with a net worth of $113 billion, was the richest person in the country last year.
