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Russian Free Press

Russia has overtaken France and Italy in the number of super-rich people

October 19, 2022
in Daily News
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Russia entered the top 10 countries with the largest number of "cent millionaires" - super-rich people with a fortune of $ 100 million. In the ranking, Russia bypassed such large countries as France and Italy. It is reported by RBC with reference to the report of the consulting company Henley & Partners, prepared jointly with New World Wealth.

It follows from the report that the total number of cent-millionaires in the world is 25,490 people, of which the bulk (38%, or 9,730 people) live in the United States. In second place is China (2021), in third is India (1132). The top 5 also includes the UK (968) and Germany, home to 966 cent-millionaires. Sixth place went to Switzerland (808), seventh to Japan (765), followed by Canada (541) and Australia (463).

Russia closes the top ten, in which, according to the consulting company, 435 multimillionaires live. Below Russia were such large economies as France (380) and Italy (298). Experts predict that in the coming years, a sharp surge in the number of ultra-rich people will be observed in Africa and Asia, which will eventually account for more than half of all cent-millionaires.

“In the next decade, Asia will have 57% more cent-millionaires than Europe and the US. Indian and Chinese centimillionaires will soon outshine their American and European “groupmates,” says one of the authors of the study, British financial journalist Misha Glennie.

Experts call Vietnam the most promising country in the next ten years - it is there that a sharp increase (by 95%) in the number of centimillionaires is expected. This growth will be driven by the rapid development of the real estate market, technology and financial sectors. In second place in terms of potential is India, experts expect the growth of the rich by 80% in the next ten years. In third place is Mauritius with 75% growth potential, the state has become a popular destination for wealthy citizens

Also among the promising African countries were Rwanda (70%), Uganda (65%) and Kenya (55%). New Zealand and Australia will also show significant growth in cent-millionaires in the next decade - by 72 and 60%, respectively.

Analysts at Henley & Partners previously predicted an outflow of wealthy citizens from Russia. Experts believed that by the end of 2022, Russia would lose about 15 thousand rich people, which is approximately 15% of all dollar millionaires in the country. Henley & Partners experts estimated the total number of dollar millionaires in Russia at 101,000 people.

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