Russia still home to super rich – study

The country has more than 400 people with over $100 million, surpassing France and Italy

Russia ranks tenth on the list of countries with the largest number of centimillionaires, or people whose fortunes are worth $100 million and more, RBK news reported on Wednesday citing a joint study by London-based consulting firm Henley & Partners and global wealth intelligence agency New World Wealth.

According to the study, there are 25,490 centimillionaires in the world. They are mainly owners of technological and multinational companies, financiers and heirs to fortunes. Their number has more than doubled in the past 20 years.

The US is home to the largest number – 9,730 people or 38% of the total. China and India come in second and third, with 2,021 and 1,132, respectively. The UK follows in fourth place with 968 individuals, and Germany closes up the top-five with 966.

Switzerland (808), Japan (765), Canada (541) and Australia (463) also made it to the top-10, with Russia bringing up the rear with 435 super-rich residents.

Other major economies, for example, France (380) and Italy (298), are behind Russia in the number of centimillionaires.

Researchers forecast that the number of super-rich people will grow rapidly in Asia and Africa in the coming years, allowing them to overtake the US and Europe by 2032. The authors behind the study also predict that Vietnam and India will show the fastest growth in the numbers of people with wealth of more than $100 million in the next decade.

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The island state of Mauritius, which has reportedly become a popular destination for millionaires, may see a 75% increase in the number of super-rich residents by 2032. Prospects also appear to be good for three African countries, Rwanda, Uganda, and Kenya, where the number is projected to rise by over 55%.

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