France becomes the third country in the world with the most millionaires

by time news

2023-08-16 16:15:36

By Julien Da Sois

Posted 11 hours ago, Updated 6 hours ago


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Comprising, according to a report, 2.8 million millionaires, France has exceeded Japan this year. The country remains far from the first two in the ranking, the United States and China.

France is now the third country in the world with the most millionaires: this is one of the main lessons of the 2023 edition of the global wealth report, carried out jointly this year by the Swiss banks Credit Suisse and UBS – which bought the first last June. With 2.8 million millionaires (in dollars) recorded in 2022, or 4.8% of the planet’s millionaires, France this year overtook Japan, now at the foot of the podium (2.7 million).

France remains, however, far from the first two countries in the ranking, the United States and China. The country of Uncle Sam remains largely at the top of the charts, concentrating 38.2% of the world total with 22.7 million millionaires. China has 6.2 million, or 10.5% of the world total. In this ranking, France therefore surpasses the other great power of the European Union, Germany, which is positioned in fifth place with 2.6 million millionaires. The United Kingdom comes just behind (2.5 million), followed by Canada. Next in the ranking are Australia, Italy, South Korea, the Netherlands, Spain and Switzerland, each of which is home to between 1 and 2 million millionaires.

Global drop in the number of millionaires

Contrary to the global global trend, the number of millionaires in France remained stable in 2022, increasing by 25 individuals compared to 2021. On a planetary scale, the number of millionaires fell by 3.5 million last year – to rise to 59.4 million at the end of 2022 -, “due to declining average wealth and abandonment ofFinancial assets“says the report. The number of millionaires has thus fallen by 1.8 million in the United States in one year, by 466,000 in Japan or 439,000 in the United Kingdom. Only a few countries recorded relatively small increases in their number of millionaires, such as Norway (+104,000), Iran (+104,000) or Brazil (+120,000).

The annual study by Credit Suisse and UBS also looked at individuals “ultra-riches“, i.e. those with assets of more than 50 million dollars. In this game, it is still the United States that dominates, even more outrageously than in the ranking of millionaires. They are home to more than half of these individuals, or 123,870 people. China once again comes second (32,910), ahead of Germany (9,100), India (5,480), Canada (4,560) and Russia (4,490). France is only ninth (3890).

Several left-wing elected officials quickly reacted to these figures, expressing their indignation in particular at the increase in the number of millionaires in France. A symbol of Emmanuel Macron’s policy, which favors the wealthy, according to them. “Meanwhile, there are 300,000 homeless people, 10 million poor people, one in two French people is forced to skip a meal“So annoyed the rebellious Thomas Portes. “Who are the despoiled? The 3890 ultra-rich whose heritage exceeds 50 million dollars in France, where the 9 million below the poverty line?“, pretended to wonder, for his part, the boss of the PS, Olivier Faure. Ecologist Sandrine Rousseau, for her part, interpreted these data as a sign of the end of the “social model” tricolor, even speaking of a “Americanization of France imposed by forced march by Emmanuel Macron».


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