Ranked: The World’s 25 Richest Millennial Billionaires

Mapping the Migration of the World’s Millionaires

Throughout 2022, a projected 88,000 millionaires will move to a new country, according to the latest Henley Global Citizens Report.

Which countries are these millionaires moving to, and where in the world are they coming from?

This graphic maps the migration of high net worth individuals (HNWIs)—people with a net worth of over US$1 million—showing where rich people are flocking, and where they’re fleeing.

Migration of Millionaires is Back

Before diving into the country-specific data, it’s worth taking a step back to look at overall millionaire migration trends, and how things are changing this year.

2020 saw a drastic drop in the number of millionaire migrants, as pandemic-induced lockdowns kept people from leaving their home countries—and at times, their homes in general.

But as restrictions ease and countries begin to open up their borders again, the migration of millionaires is beginning to gather steam once again:

Below, we’ll dive into which countries are seeing the highest number of HNWI migrants, and which ones are losing the most HNWIs.

Which Countries Are Millionaires Leaving?

There are a plethora of reasons why the ultra-rich move countries. Escaping conflict is one of them, which is why it’s no surprise to see Russia and Ukraine are projected to see some of the biggest emigration numbers by the end of 2022.

Here are the top 10 countries by millionaire outflows:

Figures rounded to the nearest 100.

While Russia is expected to see 15,000 millionaires leaving the country, Ukraine is projected to experience the highest loss in percentage terms—a whopping 42% of its HNWIs could leave the country by the end of 2022.

China could also see a big loss in its millionaire population, with a projected loss of 10,000.
According to Andrew Amoils, Head of Research at New World Wealth, this could be more damaging to the country than in previous years, since general wealth growth in China has declined recently.

Where Are The Ultra-Rich Moving?

The United Arab Emirates (UAE) has become a millionaire magnet, with a projected 4,000 HNWIs flowing into the country by the end of 2022. This influx of ultra-wealthy people is partly because of the country’s accommodating immigration policies that are specially tailored to attract private wealth and international talent.

Here are the top 10 countries that saw millionaire inflows:

Australia continues to attract HNWIs, coming in second behind the UAE. According to New World Wealth, approximately 80,000 millionaires have moved to the Land Down Under in the last two decades.

A few things that attract migrants to Australia are the country’s low costs of healthcare, its lack of inheritance tax, and its generally prosperous economy.

Update: This article and graphic have been updated to more clearly explain what’s being shown, and list the data source in a more prominent way. We appreciate your feedback.

The Richest People in the World in 2022

Today, the 10 richest people in the world control $1.3 trillion in wealth.

This scale of wealth is equal to approximately 1.4% of the world economy, Amazon’s entire market cap, or spending $1 million a day for 3,000 years. In fact, it’s double the amount seen just two years ago ($663 billion).

As billionaire wealth accumulates at a remarkable speed, we feature a snapshot of the world’s richest in 2022, based on data from the Forbes Real-Time Billionaires List.

Top 10 Richest People in the World

Elon Musk, with a fortune of $212 billion, is the richest person on the planet.

Tesla delivered nearly one million vehicles globally in 2021. Despite facing a computer chip shortage, Tesla deliveries rose 87% year-over-year. Musk, who is also CEO and chief engineer of SpaceX, plans to send the largest rocket ever built into orbit in 2022. It spans 119 meters tall.

Here are the richest people in the world, based on data as of March 14, 2022:

With a net worth of $168 billion, Jeff Bezos falls in second place. Bezos is the only billionaire in the top 10 to see a decline in wealth (-$9 billion) over the year. Since last March, Amazon shares have risen just 3% in light of weaker earnings and lagging retail performance.

Most notably, Mark Zuckerberg, CEO of Meta (formerly Facebook) fell off the top 10 for the first time since 2016. Meta shares plunged after reporting the first-ever drop in global daily active users since 2004.

Growth Rates of the Top 10 Overall

Among the 10 richest people in the world, here’s who saw their wealth rise the fastest:

Musk saw his fortune rise more than any other in this top 10 list. In 2021, Tesla became a trillion-dollar company for the first time, and Musk’s wealth jumped by 29% over the past year.

Crypto Billionaires in 2022

At least 10 people worldwide have seen their wealth climb into the billions thanks to the stratospheric rise of cryptocurrencies.

Sam Bankman-Fried, founder of the FTX crypto derivatives exchange, is at the top, with a jaw-dropping $24 billion net worth. Bankman-Fried launched the exchange in 2019 when he was 27.

FTX now has one million users and a $32 billion valuation.

Following Bankman-Fried is Brian Armstrong, the co-founder of cryptocurrency exchange Coinbase. It is the second-largest cryptocurrency exchange globally after Binance.

Also on the list are co-founders of Gemini cryptocurrency exchange Cameron and Tyler Winklevoss, each with a net worth of $4 billion. Like their rival, Mark Zuckerberg, they have their sights on building a metaverse.

Larger Shifts

Will billionaire wealth continue to accumulate at record rates? If the invasion of Ukraine presses on, it will likely have broader structural outcomes.

Some argue that war is a great leveler, a force that has reduced wealth inequality, as seen in the aftermath of WWII. Others suggest that it increases wealth divergence, especially when the war is financed by public debt. Often, costs have become inflated due to war, putting pressure on low and middle-income households.

Whether or not the war will have lasting effects on wealth distribution is an open question, however, if the pandemic serves as any precedent, the effects will be far from predictable.