Global wealth includes all assets, including monetary assets and other assets, located throughout the world. The world’s wealthiest countries wield enormous power in the global economy. The world’s richest countries control the vast bulk of the world’s wealth. The United States, China, Japan, Germany, the United Kingdom, France, India, and Canada have the largest share of global wealth. According to the Credit Suisse Global Wealth Report 2023, the United States’ global wealth share was 30.8%, while China’s global wealth share was 18.6%. Japan, Germany, and the United Kingdom came next, with 5%, 3.8%, and 3.5% of world wealth, respectively.
These wealthy countries provide excellent investment options. To mention a few, the best countries for FDI and FPI are the United States, the United Kingdom, Japan, Germany, and Canada. Because of their high-spending consumer markets, business-friendly legislation, and profitable real estate markets, these countries present appealing investment prospects.
COVID-19’s Impact on Global Wealth
The COVID-19 pandemic has serious consequences for the world economy. Despite their wealth, the world’s wealthiest countries struggled to combat the pandemic. The richest countries were affected by their older population and greater health-care costs. Furthermore, the economic consequences of lockdowns were devastating to low-income citizens and workers. The wealthy populace, on the other hand, had greater resources and capital to deal with the situation. The epidemic has a significant effect on the global inequality index. The richest people have always reaped the benefits of dominating global wealth.
The numbers of the richest worldwide wealth share were shared by Oxfam International, which investigates global inequality. According to Oxfam International, the richest 1% accounted for about two-thirds of all new wealth created since 2020, totaling $42 trillion. That is approximately twice the amount of money that the remaining 99% of the world’s population has amassed since 2020.
The growth in wealth disparity during the epidemic was reversed in 2022, with the richest population taking the bulk of global wealth. According to a Credit Suisse analysis, the top 1%’s global wealth share will fall to 44.5% in 2022. Inflation and the rise of the US dollar against other currencies were two major contributors to the loss in wealth in 2022. Anthony Shorrocks, a British economist and the author of the Credit Suisse research, stated:
World’s Richest Wealth
The world’s wealthiest individuals make significant contributions to the global economy. According to Oxfam International, the richest 1% accumulated over half of all new wealth during the last decade. Oxfam International released a report on the survival of the richest on January 16, highlighting worldwide economic inequality and the wealth of the wealthy. According to the report, billionaires’ wealth increased dramatically in 2022, owing to an increase in food and energy income. According to the analysis, 95 food and energy businesses will have doubled their earnings by 2022, resulting in a windfall profit of over $306 billion. These corporations distributed about $257 billion of total profits to wealthy stockholders. The Walton family, who own Walmart Inc. (NYSE:WMT), will receive $8.5 billion in 2022.
Companies Driving Wealth
Walmart Inc. (NYSE:WMT) primarily benefits the economies of the United States and Canada, but it also has a global footprint in 19 countries through its stores, e-commerce platforms, and subsidiaries such as Flipkart in India. Walmart Inc. (NYSE:WMT) has been performing admirably. The stock price is rising as a result of the quarter’s outstanding results and predictions for FY24. The stock of Walmart Inc. (NYSE:WMT) is trading around its all-time high. Walmart Inc. (NYSE:WMT) shares reached an all-time high of $162.61 per share on August 31. Walmart Inc. (NYSE:WMT) is trading at $163.77 as of September 8. Walmart Inc. (NYSE:WMT) announced earnings per share of $2.92 in the second quarter of fiscal year 2024, exceeding market expectations by $1.20. Walmart Inc. (NYSE:WMT) has boosted its earnings prediction for 2024 due to the growth in sales. The company anticipates a 4% to 4.5% increase in consolidated net revenues for the whole fiscal year. Walmart Inc. (NYSE:WMT) expects earnings per share to be between $6.36 and $6.46 this year. Following are some quotes from Walmart Inc.’s (NYSE:WMT) Q2 FY24 earnings call:
Amazon.com, Inc. (NASDAQ:AMZN) is another multibillion-dollar corporation that has enriched its shareholders. Jeff Bezos, the world’s third wealthiest person as of 2023, has made Amazon.com, Inc. (NASDAQ:AMZN) a global success by bolstering economies through its e-commerce platform. Amazon.com, Inc. (NASDAQ:AMZN) operates in over 50 countries, providing customers with e-commerce services as well as business opportunities for online sellers. Thousands of Amazon.com sellers have become millionaires through the e-commerce site.
On February 10, 2022, Jungle Scout reported that 19% of their 5,000 respondents made more than $1 million in sales from new businesses on Amazon.com, Inc. (NASDAQ:AMZN), and 58% of those respondents sellers reached $1 million in sales in less than five years. According to Jungle Scout’s 2023 study, 89% of Amazon.com, Inc. (NASDAQ:AMZN) merchants are successful, and despite increased costs, more than 37% of sellers produced higher earnings in 2022. The Amazon.com, Inc. (NASDAQ:AMZN) is also the world’s fifth largest public firm. According to Amazon.com, the corporation has created more jobs in the United States than any other company in the last decade. Amazon.com, Inc. (NASDAQ:AMZN) has invested roughly $530 billion since 2021, including infrastructure and employee remuneration. Furthermore, the firm’s investments have supported around 1.6 million indirect jobs in the hotel and construction industries.
The businesses of billionaires are critical to the global economy. For months, Elon Musk and Bernard Arnault have been trading the title of world’s richest person. Thanks to the enterprises they own, these billionaires have amassed a wealth. Musk owns a number of businesses, the most visible of which is Tesla Inc. (NASDAQ:TSLA). While Arnault is the owner of LVMH Moet Hennessy Louis Vuitton SE (EPA:MC), he is the world’s second-richest person.
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According to Bloomberg, Bernard Arnault purchased €215 million in LVMH Moet Hennessy Louis Vuitton SE (EPA:MC) shares after the company’s stock price slumped following dismal earnings in late July. According to French regulatory records, three days following the July 25 earnings announcement, Arnault’s Financiere Agache and Christian Dior SE vehicles purchased LVMH Moet Hennessy Louis Vuitton SE (EPA:MC) shares. Arnault sees a chance to increase his investment in the company. Arnault and his family own 48% of LVMH Moet Hennessy Louis Vuitton SE (EPA:MC), the luxury giant that has amassed enormous riches in recent years through its global operations. As of September 8, LVMH Moet Hennessy Louis Vuitton SE (EPA:MC) had a stock return of 432.37% over the previous ten years.
Wealth Distribution in the World’s Richest Countries
Global wealth includes all assets, including monetary assets and other assets, located throughout the world. The world’s wealthiest countries wield enormous power in the global economy. The world’s richest countries control the vast bulk of the world’s wealth. The United States, China, Japan, Germany, the United Kingdom, France, India, and Canada have the largest share of global wealth. According to the Credit Suisse Global Wealth Report 2023, the United States’ global wealth share was 30.8%, while China’s global wealth share was 18.6%. Japan, Germany, and the United Kingdom came next, with 5%, 3.8%, and 3.5% of world wealth, respectively.
These wealthy countries provide excellent investment options. To mention a few, the best countries for FDI and FPI are the United States, the United Kingdom, Japan, Germany, and Canada. Because of their high-spending consumer markets, business-friendly legislation, and profitable real estate markets, these countries present appealing investment prospects.
30 Wealthiest Countries in the World Based on Per Capita Net Worth
1. Switzerland
Wealth Per Capita (2022): $685,226
Switzerland’s total wealth was $4.82 trillion in 2022. Since 2012, Switzerland’s overall wealth has increased by 25.61%. Switzerland is the richest country in terms of per capita net worth.
2. United States
Wealth Per Capita (2022): $551,347
As of 2022, the United States dominates the global economy with a total value of $139.86 trillion. In terms of per capita net worth, the United States ranks second.
3. Hong Kong
Wealth Per Capita (2022): $551,194
In 2022, Hong Kong’s total wealth was $3.49 trillion. Hong Kong’s total wealth has increased by 76.26% since 2012. Hong Kong, ranked third on our list, is one of the wealthiest countries in terms of per capita net worth.
4. Australia
Wealth Per Capita (2022): $496,819
Australia is one of the world’s top economies, and it ranks among the wealthiest countries in terms of per capita net worth. In 2022, Australia’s total wealth was $9.71 trillion.
5. Denmark
Wealth Per Capita (2022): $409,954
Denmark’s total wealth was $1.86 trillion in 2022. Denmark is ranked fifth among the wealthiest countries in terms of per capita net worth.
6. New Zealand
Wealth Per Capita (2022): $388,761
In 2022, New Zealand’s total wealth was $1.43 trillion. New Zealand’s overall wealth has increased by 65.81% since 2012. New Zealand is one of the wealthiest countries in the world in terms of per capita net worth.
Walmart Inc. (NYSE:WMT), Amazon.com, Inc. (NASDAQ:AMZN), LVMH Moet Hennessy Louis Vuitton SE (EPA:MC), and Tesla Inc. (NASDAQ:TSLA) are among the world’s wealthiest corporations that play critical roles in the global economy.
7. Norway
Wealth Per Capita (2022): $385,338
In 2022, Norway’s total wealth was $1.64 trillion. Norway is ranked seventh among the wealthiest countries in terms of per capita net worth.
8. Singapore
Wealth Per Capita (2022): $382,957
Singapore’s total wealth was $1.90 trillion in 2022. Singapore is one of the wealthiest countries in terms of per capita net worth.
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9. Canada
Wealth Per Capita (2022): $369,577
Canada is one of the world’s top economies, and it ranks among the wealthiest countries in terms of per capita net worth. Canada’s overall wealth was $11.26 trillion in 2022.
10. Netherlands
Wealth Per Capita (2022): $358,235
In 2022, the Netherlands’ total wealth was $4.87 trillion. The Netherlands ranks tenth among the wealthiest countries in terms of per capita net worth.
11. Belgium
Wealth Per Capita (2022): $352,814
Belgium’s total wealth was $3.19 trillion in 2022. Belgium is one of the wealthiest countries in terms of per capita net worth.
12. France
Wealth Per Capita (2022): $312,235
As of 2022, France has a solid economy with a total wealth of $15.72 trillion. France’s total wealth has increased by 17.48% since 2012. France is ranked 12th among the wealthiest countries in terms of per capita net worth.
13. United Kingdom
Wealth Per Capita (2022): $302,783
With a total worth of $15.97 trillion, the United Kingdom is one of the world’s largest economies. The wealth of the United Kingdom has increased by 31% since 2012.
14. Sweden
Wealth Per Capita (2022): $296,800
Sweden’s total wealth was $2.33 trillion in 2022. Sweden is ranked 14th among the wealthiest countries in terms of per capita net worth.
15. Taiwan
Wealth Per Capita (2022): $273,788
Taiwan has a strong economy and ranks among the wealthiest countries in terms of per capita net worth. Taiwan’s total wealth was $5.42 trillion in 2022.
16. Germany
Wealth Per Capita (2022): $256,179
Germany, one of the world’s leading economies, with a total value of $17.42 trillion. Germany is one of the wealthiest countries in terms of per capita net worth.
17. Austria
Wealth Per Capita (2022): $245,225
In 2022, Austria’s total wealth was $1.79 trillion. Austria’s overall wealth has increased by 16.99% since 2012. Austria, ranked 17th on our list, is one of the wealthiest countries in terms of per capita net worth.
18. Israel
Wealth Per Capita (2022): $235,445
Israel’s total wealth was $1.36 trillion in 2022. Israel makes our list of the wealthiest countries in terms of per capita net worth.
19. South Korea
Wealth Per Capita (2022): $230,760
In 2022, South Korea’s total wealth was $9.89 trillion. South Korea ranks 19th among the wealthiest countries in terms of per capita net worth.
20. Spain
Wealth Per Capita (2022): $224,209
Spain is one of Europe’s greatest economies, with a total worth of $8.48 trillion in 2022. Spain is one of the wealthiest countries in terms of per capita net worth.
21. Italy
Wealth Per Capita (2022): $221,370
In 2022, Italy’s total wealth was $11.02 trillion. Italy, ranked 21st on our list, is one of the wealthiest countries in terms of per capita net worth.
22. Japan
Wealth Per Capita (2022): $216,078
Japan is a leading economy and one of the wealthiest countries in terms of per capita net worth. The country’s total wealth was $22.58 trillion in 2022. Japan is one of the wealthiest countries in terms of per capita net worth.
23. Portugal
Wealth Per Capita (2022): $158,840
As of 2022, Portugal’s total wealth was $1.32 trillion. Portugal is ranked 23rd among the wealthiest countries in terms of per capita net worth.
24. United Arab Emirates
Wealth Per Capita (2022): $152,556
The UAE is one of the wealthiest Arab countries, with a total value of $1.24 trillion in 2022. The UAE is one of the wealthiest countries in terms of per capita net worth.
25. Saudi Arabia
Wealth Per Capita (2022): $90,975
In 2022, Saudi Arabia’s total wealth was $2.26 trillion. Saudi Arabia’s overall wealth has increased by 80.80% since 2012. Saudi Arabia, ranked 25th on our list, is one of the wealthiest countries in terms of per capita net worth.
26. China
Wealth Per Capita (2022): $75,731
In 2022, China had the world’s second-largest total wealth of $84.48 trillion. China, as one of the world’s major economies, makes our list of the wealthiest countries in terms of per capita net worth.
27. Mexico
Wealth Per Capita (2022): $55,274
As of 2022, Mexico’s total wealth was $4.86 trillion. Mexico is one of the wealthiest countries in terms of per capita net worth.
28. Poland
Wealth Per Capita (2022): $52,741
In 2022, Poland’s total wealth was $1.59 trillion. Poland’s overall wealth has increased by 60.60% since 2012. Poland, ranked 28th on our list, is one of the wealthiest countries in terms of per capita net worth.
29. Iran
Wealth Per Capita (2022): $51,147
Despite international restrictions, Iran has established its own economy. Iran’s overall wealth in 2022 will be $3.03 trillion. Iran is one of the wealthiest countries in terms of per capita net worth.
30. Russia
Wealth Per Capita (2022): $39,514
Russia’s economy is strong, with a total worth of $4.30 trillion as of 2022. Russia’s total wealth has increased by 45.51% since 2012. Russia is ranked 30th among the wealthiest countries in terms of per capita net worth.
