In this article, we will discuss the 30 wealthiest countries by per capita net worth. If you want to skip the detailed analysis of the wealthiest countries, click 5 Wealthiest Countries by Per Capita Net Worth.
World’s Richest Countries’ Wealth Share
Global wealth comprises all the assets including monetary assets and other assets in all areas of the world. The wealthiest countries in the world are the powerbrokers in the global economy. The richest countries in the world hold a majority portion of the global wealth. Countries including the United States, China, Japan, Germany, United Kingdom, France, India, and Canada hold the highest share of the global wealth. According to the Credit Suisse Global Wealth Report of 2023, the global wealth share for the United States was 30.8% and China’s global wealth share accounted for 18.6%. Japan, Germany, and the United Kingdom followed next with a global wealth share of 5%, 3.8%, and 3.5%, respectively.
These rich countries have great investment opportunities. Some of the countries that are best for FDI and FPI include the United States, United Kingdom, Japan, Germany, and Canada – to name a few. These countries offer attractive investment opportunities due to the high-spending consumer market, business-friendly regulations, and profitable real estate market.
Impact of COVID-19 on Global Wealth
The COVID-19 pandemic had severe implications for the global economy. The wealthiest countries in the world had a hard time tackling the pandemic despite the resources. The wealthiest countries were exposed to their older population and higher health expenses. Furthermore, the economic fallout of lockdowns devastated low-income citizens and workers. Whereas the rich population had more resources and capital to deal with the circumstances. The pandemic had a major impact on the global inequality index. The wealthiest people have always enjoyed the perks of dominating global wealth.
Oxfam International, which studies global inequality, shared the statistics of the richest global wealth share. According to Oxfam International, the richest 1% took almost two-thirds of all new wealth created since 2020, which accounted for $42 trillion. That’s nearly twice as much money as the remaining 99% of the world’s population grabbed since 2020.
With the richest population taking away the majority of the global wealth, the increase in wealth inequality during the pandemic was reversed in 2022. According to Credit Suisse’s report, the global wealth share of the top 1% plunged to 44.5% during 2022. Some of the key factors to the decline in wealth in 2022 included inflation and appreciation of the U.S. dollar against other currencies. British economist and Credit Suisse’s report author, Anthony Shorrocks said:
“If exchange rates were held constant at 2021 rates, then total wealth would have increased by 3.4% and wealth per adult by 2.2% during 2022. This is still the slowest increase of wealth at constant exchange rates since 2008. Keeping exchange rates constant but counting the effects of inflation results in a real wealth loss of –2.6% in 2022.”
World’s Richest Wealth
The world’s wealthiest people massively contribute to the global economy. Over the last decade, the richest 1% gathered around half of all new wealth, as per Oxfam International. On January 16, Oxfam International published a report on the survival of the richest, highlighting the global wealth inequality and wealth of the richest. The report highlights that billionaires’ wealth soared significantly driven by the increase in food and energy profits in 2022. As per the report, 95 food and energy corporations doubled their profits in 2022, adding nearly $306 billion in windfall profits. These companies paid out almost $257 billion of the total profits to rich shareholders. The retail giant Walmart Inc.’s (NYSE:WMT) owners, the Walton family, received $8.5 billion in 2022.
Companies Driving Wealth
Walmart Inc. (NYSE:WMT) mainly contributes to the U.S. and Canadian economies, but it has an international presence across 19 countries through its stores, e-commerce websites, and subsidiaries such as Flipkart in India. Walmart Inc. (NYSE:WMT) has been performing exceptionally well. The strong outcomes for the quarter and projections for FY24 are pushing the stock price. Walmart Inc. (NYSE:WMT) stock is trading around its all-time high. On August 31, Walmart Inc. (NYSE:WMT) shares traded at $162.61 per share, its all-time high. As of September 8, Walmart Inc. (NYSE:WMT) is trading at $163.77. In the second quarter of fiscal year 2024, Walmart Inc. (NYSE:WMT) reported earnings per share of $2.92, beating market consensus by $1.20. With the increase in sales, Walmart Inc. (NYSE:WMT) has raised its earnings forecast for 2024. The company expects its full fiscal year consolidated net sales to rise by about 4% to 4.5%. Whereas, Walmart Inc. (NYSE:WMT) projects its earnings per share for the year in the range of $6.36 and $6.46. Here are some of the comments from Walmart Inc.’s (NYSE:WMT) Q2 FY24 earnings call:
“We had another strong quarter. We’re gaining share across markets and formats, growing units sold, transaction counts are positive across markets, and growth in operating income is outpacing sales. We’re really pleased with our first half performance. For the quarter, comp sales for Walmart U.S. were ahead of where we thought they’d be at 6.4%. Sam’s Club U.S. was 5.5% and sales for international were up 11%, led by double-digit growth at Walmex and China. Flipkart’s GMV was also strong. The team is driving results in the short-term and building for the future.”
Amazon.com, Inc. (NASDAQ:AMZN) is another mega-company that has created wealth for its owners. Jeff Bezos, the third richest person in the world as of 2023, has made Amazon.com, Inc. (NASDAQ:AMZN) a global success, supporting economies through its e-commerce platform. Amazon.com, Inc. (NASDAQ:AMZN) is operating in more than 50 countries, offering e-commerce services to consumers, and business opportunities for online sellers. Thousands of Amazon.com sellers became millionaires by selling products on the e-commerce platform.
On February 10, 2022, Jungle Scout posted that 19% of their 5,000 respondents made more than $1 million in sales on Amazon.com, Inc. (NASDAQ:AMZN) from new businesses, and 58% of those respondents sellers reached $1 million in sales in less than five years. Jungle Scout’s 2023 report highlights that 89% of Amazon.com, Inc. (NASDAQ:AMZN) sellers are profitable, and despite an increase in costs, more than 37% of sellers generated higher profits in 2022. Amazon.com, Inc. (NASDAQ:AMZN) is also the fifth biggest public company in the world. As per Amazon.com, the company has created more jobs in the U.S. than any other company over the last decade. Since 2021, Amazon.com, Inc. (NASDAQ:AMZN) has invested nearly $530 billion, including investments in infrastructure and employee compensation. On top of that, the company’s investments have supported around 1.6 million indirect jobs in the hospitality and construction industries.
Billionaires’ companies are key to the global economy. Elon Musk and Bernard Arnault have been swapping the world’s richest top spot for many months now. Thanks to the companies they own that have brought these billionaires a lot of fortune. Musk owns quite a few companies, but the most prominent one is his automotive firm Tesla Inc. (NASDAQ:TSLA). While Arnault owns LVMH Moet Hennessy Louis Vuitton SE (EPA:MC), which has made him the world’s second-wealthiest person.
On September 8, Bloomberg reported that Bernard Arnault bought €215 million worth of LVMH Moet Hennessy Louis Vuitton SE (EPA:MC) shares since the company’s stock price dropped following disappointing earnings in late July. As per French regulatory filings, Arnault’s Financiere Agache and Christian Dior SE vehicles bought LVMH Moet Hennessy Louis Vuitton SE (EPA:MC) shares three days after the July 25 earnings report. Arnault sees an opportunity to invest further in the company. Arnault and his family own 48% of LVMH Moet Hennessy Louis Vuitton SE (EPA:MC) as the luxury conglomerate has created a lot of wealth in recent years through its operations around the world. In the last 10 years, LVMH Moet Hennessy Louis Vuitton SE (EPA:MC) has had a stock return of 432.37%, as of September 8.
Menna/Shutterstock.com
Our Methodology
To determine the world’s wealthiest countries by per capita net worth, we analyzed data from Credit Suisse’s Global Wealth Databook 2023. Credit Suisse’s database calculates the wealth of countries, considering their financial and non-financial assets while subtracting the value of debt from it. We shortlisted the top countries with the highest total wealth in 2022 and then ranked them based on the highest wealth per adult, which is per capita wealth. The list is ranked in ascending order of this metric. Here is the list of the 30 wealthiest countries by per capita net worth.
30 Wealthiest Countries by Per Capita Net Worth
30. Russia
Wealth Per Capita (2022): $39,514
Russia has a strong economy and a total wealth of $4.30 trillion, as of 2022. Since 2012, Russia’s total wealth has increased by 45.51%. Russia ranks 30th on our list of the wealthiest countries by per capita net worth.
World-leading companies including Walmart Inc. (NYSE:WMT), Amazon.com, Inc. (NASDAQ:AMZN), LVMH Moet Hennessy Louis Vuitton SE (EPA:MC), and Tesla Inc. (NASDAQ:TSLA) are massively contributing to their local as well as global economies.
29. Iran
Wealth Per Capita (2022): $51,147
Despite global sanctions, Iran has built its economy on its own. The total wealth of Iran in 2022 was $3.03 trillion. Iran ranks among the wealthiest countries by per capita net worth.
28. Poland
Wealth Per Capita (2022): $52,741
Poland had a total wealth of $1.59 trillion in 2022. Since 2012, Poland’s total wealth has soared by 60.60%. Ranked 28th on our list, Poland is one of the wealthiest countries by per capita net worth.
27. Mexico
Wealth Per Capita (2022): $55,274
Mexico had a total wealth of $4.86 trillion, as of 2022. Mexico ranks among the wealthiest countries by per capita net worth.
26. China
Wealth Per Capita (2022): $75,731
China had the second-largest total wealth of $84.48 trillion in 2022. Being one of the largest economies in the world, China makes it to our list of the wealthiest countries by per capita net worth.
25. Saudi Arabia
Wealth Per Capita (2022): $90,975
Saudi Arabia had a total wealth of $2.26 trillion in 2022. Since 2012, Saudi Arabia’s total wealth has increased by 80.80%. Ranked 25th on our list, Saudi Arabia is one of the wealthiest countries by per capita net worth.
24. United Arab Emirates
Wealth Per Capita (2022): $152,556
The United Arab Emirates is one the richest Arab countries with a total wealth of $1.24 trillion in 2022. The United Arab Emirates ranks among the wealthiest countries by per capita net worth.
23. Portugal
Wealth Per Capita (2022): $158,840
Portugal had a total wealth of $1.32 trillion, as of 2022. Portugal is ranked 23rd on our list of the wealthiest countries by per capita net worth.
22. Japan
Wealth Per Capita (2022): $216,078
Japan is one of the leading economies and one of the wealthiest countries by per capita net worth. In 2022, the total wealth of the country was $22.58 trillion. Japan ranks among the wealthiest countries by per capita net worth.
21. Italy
Wealth Per Capita (2022): $221,370
Italy had a total wealth of $11.02 trillion in 2022. Ranked 21st on our list, Italy is one of the wealthiest countries by per capita net worth.
20. Spain
Wealth Per Capita (2022): $224,209
Spain is one of the largest economies in Europe with a total wealth of $8.48 trillion in 2022. Spain ranks among the wealthiest countries by per capita net worth.
19. South Korea
Wealth Per Capita (2022): $230,760
South Korea had a total wealth of $9.89 trillion in 2022. South Korea is placed at 19th place among the wealthiest countries by per capita net worth.
18. Israel
Wealth Per Capita (2022): $235,445
In 2022, Israel had a total wealth of $1.36 trillion. Israel makes it to our list of the wealthiest countries by per capita net worth.
17. Austria
Wealth Per Capita (2022): $245,225
Austria had a total wealth of $1.79 trillion in 2022. Since 2012, Austria’s total wealth has grown by 16.99%. Ranked 17th on our list, Austria is one of the wealthiest countries by per capita net worth.
16. Germany
Wealth Per Capita (2022): $256,179
One of the leading economies in the world, Germany had a total wealth of $17.42 trillion. Germany ranks among the wealthiest countries by per capita net worth.
15. Taiwan
Wealth Per Capita (2022): $273,788
Taiwan has a strong economy as it makes it to the list of the wealthiest countries by per capita net worth. In 2022, Taiwan had a total wealth of $5.42 trillion.
14. Sweden
Wealth Per Capita (2022): $296,800
In 2022, Sweden had a total wealth of $2.33 trillion. Sweden is ranked 14th on our list of the wealthiest countries by per capita net worth.
13. United Kingdom
Wealth Per Capita (2022): $302,783
The United Kingdom is one of the largest economies in the world with a total wealth of $15.97 trillion. Since 2012, the United Kingdom’s wealth has increased by 31%.
12. France
Wealth Per Capita (2022): $312,235
France has a strong economy and a total wealth of $15.72 trillion, as of 2022. Since 2012, France’s total wealth has increased by 17.48%. France ranks 12th on our list of the wealthiest countries by per capita net worth.
11. Belgium
Wealth Per Capita (2022): $352,814
In 2022, Belgium had a total wealth of $3.19 trillion. Belgium ranks among the wealthiest countries by per capita net worth.
10. Netherlands
Wealth Per Capita (2022): $358,235
The Netherlands had a total wealth of $4.87 trillion in 2022. The Netherlands is placed at 10th place among the wealthiest countries by per capita net worth.
9. Canada
Wealth Per Capita (2022): $369,577
Canada is one of the leading economies in the world and makes it to our list of the wealthiest countries by per capita net worth. In 2022, Canada had a total wealth of $11.26 trillion.
8. Singapore
Wealth Per Capita (2022): $382,957
In 2022, Singapore had a total wealth of $1.90 trillion. Singapore ranks among the wealthiest countries by per capita net worth.
7. Norway
Wealth Per Capita (2022): $385,338
Norway had a total wealth of $1.64 trillion in 2022. Norway is ranked seventh on our list of the wealthiest countries by per capita net worth.
6. New Zealand
Wealth Per Capita (2022): $388,761
New Zealand had a total wealth of $1.43 trillion in 2022. Since 2012, New Zealand’s total wealth has grown by 65.81%. New Zealand is one of the wealthiest countries by per capita net worth.
The world’s wealthiest companies that play a vital role in the global economy include Walmart Inc. (NYSE:WMT), Amazon.com, Inc. (NASDAQ:AMZN), LVMH Moet Hennessy Louis Vuitton SE (EPA:MC), and Tesla Inc. (NASDAQ:TSLA).
Click to continue reading and see 5 Wealthiest Countries by Per Capita Net Worth.
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Disclosure: None. 30 Wealthiest Countries by Per Capita Net Worth is originally published on Insider Monkey.
