Where the World’s Ultra Rich Population Lives
But still, there’s something extremely interesting about dissecting the lifestyles of the ultra rich – particularly in looking at where they live, and also how they tend to migrate when local conditions are not conducive to wealth-building or the safety of their fortunes and families.
Ultra Rich: By Region
Today’s infographic comes to us from HowMuch.net, and it breaks down the population of ultra high net worth individuals that have personal wealth levels exceeding the $500 million mark. It uses information from the 2018 edition of the Knight Frank Wealth Report.
First, we’ll look at these totals on a regional level:
|Region||Population (>$500M wealth)||% of Global Pop|
|Latin America & Caribbean||280||4.2%|
|Russia & CIS||220||3.3%|
As you can see, the vast amount of half-billionaires are located in North America (31.8%), Asia (28.1%), and Europe (25.4%). That means that fewer than 15% of these ultra rich live in the Middle East, Australasia, Russia & CIS, Latin America, and Africa combined.
Ultra Rich: By Country
Now, we’ll look at the 14 countries that have greater than 100 ultra rich people (>$500 million) as residents:
|Rank||Country||Region||Population (>$500M wealth)|
|#1||United States||North America||1,830|
|#9||Russia & CIS||Russia & CIS||220|
|#14||Saudi Arabia||Middle East||120|
Note: this list excludes second-home owners.
Sitting at the top of the list is the United States with 1,830 people that hold fortunes larger than $500 million. That’s equal to roughly 28% of the global half-billionaire population.
Following the U.S. is China, which counts 810 people as having a wealth over $500 million. These numbers are broken down into Mainland China and Hong Kong on the graph and table, because they were tallied using different sources.
Canada tallies surprisingly high here – the country only ranks #10 globally based on its number of (billionaires), but ranks #6 in terms of half-billionaires with 270 in total.
Lastly, it should be noted that just missing the cut-off on the above list were Taiwan, South Korea, and Singapore, three Asian countries that tied with 100 half-billionaires each.
Visualizing U.S. GDP by Industry in 2023
Services-producing industries account for the majority of U.S. GDP in 2023, followed by other private industries and the government.
Visualizing U.S. GDP by Industry
The U.S. economy is like a giant machine driven by many different industries, each one akin to an essential cog that moves the whole.
Understanding the breakdown of national gross domestic product (GDP) by industry shows where commercial activity is bustling and how diverse the economy truly is.
The above infographic uses data from the Bureau of Economic Analysis to visualize a breakdown of U.S. GDP by industry in 2023. To show this, we use value added by industry, which reflects the difference between gross output and the cost of intermediate inputs.
The Top 10 U.S. Industries by GDP
As of Q1 2023, the annualized GDP of the U.S. sits at $26.5 trillion.
Of this, 88% or $23.5 trillion comes from private industries. The remaining $3 trillion is government spending at the federal, state, and local levels.
Here’s a look at the largest private industries by economic contribution in the United States:
|Industry||Annualized Nominal GDP |
(as of Q1 2023)
|% of U.S. GDP|
|Professional and business services||$3.5T||13%|
|Real estate, rental, and leasing||$3.3T||12%|
|Educational services, health care, and social assistance||$2.3T||9%|
|Finance and insurance||$2.0T||8%|
|Arts, entertainment, recreation, accommodation, and food services||$1.2T||4%|
|Other private industries||$2.6T||10%|
Like most other developed nations, the U.S. economy is largely based on services.
Service-based industries, including professional and business services, real estate, finance, and health care, make up the bulk (70%) of U.S. GDP. In comparison, goods-producing industries like agriculture, manufacturing, mining, and construction play a smaller role.
Professional and business services is the largest industry with $3.5 trillion in value added. It comprises establishments providing legal, consulting, design, administration, and other services. This is followed by real estate at $3.3 trillion, which has consistently been an integral part of the economy.
Due to outsourcing and other factors, the manufacturing industry’s share of GDP has been declining for decades, but it still remains a significant part of the economy. Manufacturing of durable goods (metals, machines, computers) accounts for $1.6 trillion in value added, alongside nondurable goods (food, petroleum, chemicals) at $1.3 trillion.
The Government’s Contribution to GDP
Just like private industries, the government’s value added to GDP consists of compensation of employees, taxes collected (less subsidies), and gross operating surplus.
|Government||Annualized Nominal GDP |
(as of Q1 2023)
|% of U.S. GDP|
|State and Local||$2.1T||8%|
Figures may not add up to the total due to rounding.
State and local government spending, largely focused on the education and public welfare sectors, accounts for the bulk of value added. The Federal contribution to GDP amounts to roughly $948 billion, with 52% of it attributed to national defense.
The Fastest Growing Industries (2022–2032P)
In the next 10 years, services-producing industries are projected to see the fastest growth in output.
The table below shows the five fastest-growing industries in the U.S. from 2022–2032 in terms of total output, based on data from the Bureau of Labor Statistics:
|Industry||Sector||Compound Annual Rate of Output Growth (2022–2032P)|
|Computing infrastructure providers, data processing, and related services||Information||3.9%|
|Wireless telecommunications carriers (except satellite)||Information||3.6%|
|Home health care services||Health care and social assistance||3.6%|
|Oil and gas extraction||Mining||3.5%|
Three of the fastest-growing industries are in the information sector, underscoring the growing role of technology and digital infrastructure. Meanwhile, the projected growth of the oil and gas extraction industry highlights the enduring demand for traditional energy sources, despite the energy transition.
Overall, the development of these industries suggests that the U.S. will continue its shift toward a services-oriented economy. But today, it’s also worth noticing how services- and goods-producing industries are increasingly tied together. For example, it’s now common for tech companies to produce devices, and for manufacturers to use software in their operations.
Therefore, the oncoming tide of growth in service-based industries could potentially lift other interconnected sectors of the diverse U.S. economy.
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