Canada ranks 8th in list of countries with the most privately owned wealth

Mar 23 2022, 7:38 pm

Canada has made it into the list of top 10 richest countries this year — in terms of privately owned wealth.

Investment-based immigration group Henley & Partners used data from global wealth intelligence firm New World Wealth to launch the Henley Global Citizens Report 2022.

It ranks countries by total wealth, which refers to privately held wealth owned by people in each country — cash, assets, business interests, real estate and other property, minus liabilities.

The report listed the trillion-dollar amount of wealth per country, the population of each country, and the number of millionaires, centi-millionaires, and billionaires it has.

privately owned wealth

Henley & Partners

The US bagged the top spot at a mind-blowing total of US$68.8 trillion in privately owned wealth.

To put that into perspective, here’s what that number looks like: 68,800,000,000,000 (nearly CA$86.5 trillion!)

China followed at US$ 23.3 trillion, Japan at US$20.1 trillion, India and Germany at US$8.9 trillion each, the UK at US$8.8 trillion, Australia at US$6.4 trillion, Canada at US$6.2 trillion, France at US$5.8 trillion, and lastly, Italy at US$3.8 trillion.

The country with the highest number of billionaires is the US (810), whereas Canada, as of this year has 12,220 multimillionaires, 524 centi-millionaires, and 43 billionaires. It must be noted that this number reflects US dollar-based stats.

According to Henley & Partners’ ten-year forecast, Canada will have 30% more millionaires by 2031. The fastest millionaire growth is expected in India, with a whopping 80% increase in just a decade.

Read the full report here.

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