No, the United States has a significantly higher number of millionaires than China. The U.S. leads globally in its millionaire population.
Global Wealth Distribution
The United States consistently holds the top position in global wealth distribution across multiple tiers. This includes having the most millionaires, centi-millionaires (individuals with $100 million or more in investable assets), and billionaires.
As of December 2023, while China ranks as the next country with a substantial number of wealthy individuals, it remains far behind the U.S. in all these wealth metrics.
Here's a comparison of the top two countries in terms of their ultra-wealthy populations:
| Wealth Tier | United States | China |
|---|---|---|
| Millionaires | Leads globally | 862,400 |
| Centi-Millionaires | 9,850 | Fewer than US |
| Billionaires | 788 | 305 |
Key Insights into Wealth Concentration
The dominance of the United States in these wealth categories highlights its status as the world's largest economy and a major hub for wealth creation. Data from December 2023 confirms that the U.S. maintains its lead not only in the sheer volume of millionaires but also in the higher echelons of wealth, such as centi-millionaires and billionaires. China's growing economy has certainly produced a significant number of wealthy individuals, placing it second globally, but it has yet to surpass the established wealth concentration found in the United States.
For more information on global wealth rankings, you can refer to current data on countries with the most millionaires and billionaires.
