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In this article, we discuss the top 50 richest countries in the world by net worth. If you want to see the top 10 richest countries, click Top 10 Richest Countries In The World By Net Worth.
National net wealth, also referred to as national net worth, represents the total value of a country's assets minus its liabilities. It encompasses the collective net wealth owned by the residents of a nation at a specific point in time. This measure is a crucial indicator of a country's capacity to take on debt, sustain expenditure, and is influenced by various factors including real estate and equity market prices, exchange rates, liabilities, population demographics, as well as the presence of human resources, natural resources, capital, and technological advancements.
Previously, we reported that the younger generation, specifically millennials, are facing challenges in acquiring property, leading to many residing with their parents or sharing living spaces. The scarcity of homes has made it more challenging to own a house in recent years. A survey by Bank of America revealed that home buying patterns have been affected, with individuals aged 55 to 74 accounting for 44% of all home purchases in 2022. A National Realtors Association (NAR) study confirms Bank of America's findings that older individuals are accounting for a growing share of home purchases, with the median age of primary homebuyers reaching an all-time high of 55 years in January 2022. Millennials are delaying moving out of their parents' homes and purchasing homes of their own, while the proportion of first-time homebuyers has also decreased. Rising mortgage rates have contributed to these trends, with the total cost of homeownership through a mortgage nearly doubling between July 2021 and November 2022. These statistics are being referenced because homeownership is a significant aspect of wealth accumulation, as substantial sums of money are frequently invested in real estate. The earlier an individual becomes a homeowner, the earlier they can start building their wealth. It is important to note that wealth is distinct from income.
Wealth and Income – What’s the difference?
According to the Pew Research Center, income and wealth are both important indicators of financial security for individuals and families. Income is the sum of earnings from various sources, while wealth is the value of assets minus outstanding debt and is accumulated over a lifetime. Wealth serves as a source of retirement income and provides future security. In 2016, upper-income families in the US had significantly more wealth than middle and lower-income families, with ratios of 7.4 to 1 and 75 to 1 respectively, which increased from 3.4 to 1 and 28 to 1 in 1983.
Why Not Use GDP or GNI?
Websites that rely solely on GDP per capita or GNI (Gross National Income) as the variable to rank the richest countries in the world may oversimplify and misrepresent the true economic prosperity of a nation. While these metrics provide some insight into the average income or economic output per person, they fail to capture the complete picture of a country's wealth and well-being. GDP per capita or GNI does not account for the cost of living. A country with a high GDP per capita may still have a high cost of living, rendering the average person's purchasing power relatively low. Using these metrics without considering the cost of goods, services, and essential needs can distort the ranking of countries and mislead readers about the actual quality of life experienced by individuals. Moreover, relying solely on GDP per capita or GNI fails to capture non-monetary aspects that contribute to a nation's overall wealth and well-being. Factors such as access to quality education, healthcare, social support systems, infrastructure, and environmental sustainability are crucial indicators of a country's prosperity and should not be overlooked in evaluations of wealth. Although income and wealth are related, a high income in a given year does not necessarily mean that a country is wealthy. Accumulating wealth takes a longer period, often spanning years or even decades.
Consider the example of retired individuals. Among our readership, we have thousands of retirees who do not generate an annual income exceeding $200,000. However, they have amassed substantial wealth by investing millions in stocks and bonds over the years. In terms of wealth, they are part of the top 1%, but their income alone may not place them within the top 1% bracket. This highlights the distinction between income and wealth, demonstrating that individuals can accumulate significant wealth over time, even if their annual income may not reflect their overall financial status.
Countries That Boast The Richest People
According to Forbes' 2023 ranking of the world's wealthiest people, there are 2,640 billionaires from 77 countries or territories worldwide. The United States has the most billionaire citizens with 735, although it no longer has the world's richest person. Bernard Arnault of France overtook Elon Musk for that title. However, America still has 17 of the world's 25 richest people, with a total worth of $4.5 trillion. China comes in second with 495 billionaires worth a combined $1.67 trillion, while India has 169 billionaires worth $675 billion. German billionaires have decreased to 126 from 134 last year, while Russian billionaires have increased from 83 worth a combined $320 billion last year to 105 worth a combined $474 billion this year, outperforming the rest of the world's richest despite war and Western sanctions.
The largest multinational corporations are primarily owned and managed by billionaires such as Jeff Bezos, Elon Musk, and Bill Gates, who lead companies like Amazon.com, Inc. (NASDAQ:AMZN), Tesla, Inc. (NASDAQ:TSLA), and Microsoft Corporation (NASDAQ:MSFT), respectively.
Our Methodology
To determine the wealthiest countries in the world, we analyzed data from Credit Suisse's Global Wealth Databook 2022. This database calculates wealth (as of 2021) based on the value of financial and non-financial assets while subtracting debt. This figure is equivalent to the national net worth of a country. We also compared the total wealth of these countries in 2010 to examine the percentage change in their wealth patterns almost a decade later. This will not only indicate which countries are the wealthiest but also demonstrate the rate at which their wealth is increasing.
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Top Richest Countries In The World By Net Worth
50. Malaysia
Total Wealth in 2021: $615 bn
Total Wealth in 2010: $331 bn
Percentage Change: 85.8%
Malaysia, located in Southeast Asia, is a federal constitutional monarchy comprising thirteen states and three federal territories. It is geographically divided into two regions by the South China Sea – Peninsular Malaysia and East Malaysia, which is located on the island of Borneo. The country’s total wealth in 2021 came in at $615 billion, up 85.8% compared to 2010.
49. Colombia
Total Wealth in 2021: $616 bn
Total Wealth in 2010: $383 bn
Percentage Change: 60.8%
Colombo, which is officially known as the Republic of Colombia, is a nation located predominantly in South America, with additional territories on islands in North America. In 2021, the country’s total wealth stood at $616 billion, which makes it one of the richest countries in the world.
48. Pakistan
Total Wealth in 2021: $640 bn
Total Wealth in 2010: $286 bn
Percentage Change: 123.7%
Pakistan, officially referred to as the Islamic Republic of Pakistan, is a South Asian nation that boasts of having the second-largest Muslim population in the world, trailing only behind Indonesia. Pakistan’s total wealth in 2021 was $640 billion, a 123.7% increase as compared to 2010, when the country’s wealth was $286 billion.
47. Romania
Total Wealth in 2021: $640 bn
Total Wealth in 2010: $302 bn
Percentage Change: 111.9%
Romania is a nation situated at the intersection of Central, Eastern, and Southeastern Europe. Its neighboring countries include Bulgaria to the south, Ukraine to the north, Hungary to the west, Serbia to the southwest, and Moldova to the east, while the Black Sea lies to its southeast. The national capital is Bucharest. It is one of the richest countries in the world, with total wealth in 2021 amounting to $640 billion.
46. Ukraine
Total Wealth in 2021: $679 bn
Total Wealth in 2010: $241 bn
Percentage Change: 181.7%
Ukraine, located in Eastern Europe, shares its eastern and northeastern borders with Russia. As the second-largest country in Europe, Ukraine is only surpassed in size by Russia. The capital and largest city of Ukraine is Kiev. Ukraine is one of the richest countries in the world, with total wealth amounting to $679 billion in 2021.
45. Czechia
Total Wealth in 2021: $701 bn
Total Wealth in 2010: $369 bn
Percentage Change: 89.9%
Czechia, also referred to as the Czech Republic, is a nation situated in Central Europe without access to the sea. Its capital and most populous city is Prague, while other major urban areas include Brno, Ostrava, Plzeň, and Liberec. In 2021, Czechia’s total wealth came in at $701 billion.
44. Nigeria
Total Wealth in 2021: $752 bn
Total Wealth in 2010: $228 bn
Percentage Change: 229.8%
Nigeria is a West African country officially known as the Federal Republic of Nigeria. It is situated between the Sahel to the north and the Gulf of Guinea in the Atlantic Ocean to the south. In 2021, Nigeria’s total wealth was $752 billion, which was a whopping increase of nearly 230% compared to 2010. It is one of the richest countries in the world.
43. Chile
Total Wealth in 2021: $785 bn
Total Wealth in 2010: $555 bn
Percentage Change: 41.4%
Chile, officially called the Republic of Chile, is a nation situated in the western region of South America. Being the nearest country to Antarctica, it is also considered the southernmost country in the world. Chile is one of the richest countries in the world, given its total wealth in 2021 amounted to $785 billion.
42. Finland
Total Wealth in 2021: $817 bn
Total Wealth in 2010: $624 bn
Percentage Change: 30.9%
Finland is located in Northern Europe, with Sweden, Norway, and Russia as its neighboring nations. Its capital, Helsinki, boasts a number of attractions, such as the 18th-century sea fortress Suomenlinna, the trendy Design District, and multiple museums. The Northern Lights that can be seen in the country's Arctic Lapland province. Finland ranks 42nd on our list of the 50 richest countries in the world, with total wealth in 2021 amounting to $817 billion.
41. Greece
Total Wealth in 2021: $914 bn
Total Wealth in 2010: $1.252 tn
Percentage Change: -26.9%
Greece is situated in southeastern Europe and consists of numerous islands spread throughout the Aegean and Ionian seas. Its capital city, Athens, houses several historical landmarks, including the 5th-century B.C. Acropolis citadel that features the iconic Parthenon temple. Greece ranks 41st on our list of the 50 richest countries in the world. However, between 2010 and 2021, the total wealth of the country declined by nearly 27%.
40. Ireland
Total Wealth in 2021: $920 bn
Total Wealth in 2010: $724 bn
Percentage Change: 27.0%
Ireland is a large island in north-western Europe located in the North Atlantic Ocean. It is the second-largest island of the British Isles, the third-largest in Europe, and the twentieth-largest in the world. Ireland’s total wealth between 2010 and 2021 increased 27%.
39. South Africa
Total Wealth in 2021: $938 bn
Total Wealth in 2010: $897 bn
Percentage Change: 4.5%
The Republic of South Africa, which is situated in southernmost Africa, is known for its diverse offerings. The country has 3 capitals, 11 official languages, 21 National Parks, and 10 UNESCO World Heritage Sites. It is renowned for its breathtaking landscapes and an abundance of African wildlife. South Africa’s total wealth in 2021 was $938 billion, up 4.5% as compared to $897 billion in 2010.
38. Vietnam
Total Wealth in 2021: $985 bn
Total Wealth in 2010: $310 bn
Percentage Change: 217.7%
Vietnam, which is officially known as the Socialist Republic of Vietnam, is located in Southeast Asia. According to data from the World Bank, the country's GDP growth rate is estimated to decrease from 8% in 2022 to 6.3% in 2023, mainly due to a reduction in domestic demand and exports. However, Vietnam's economic growth is projected to recover to 6.5% in 2024, helped by the expected decline in domestic inflation and the accelerated recovery of its primary export markets, including the U.S., Eurozone, and China. It remains one of the richest countries in the world as of 2021, with total wealth amounting to $985 billion.
37. United Arab Emirates
Total Wealth in 2021: $994 bn
Total Wealth in 2010: $731 bn
Percentage Change: 35.9%
The United Arab Emirates is a federation of seven emirates, which include Abu Dhabi, Ajman, Dubai, Fujairah, Ras Al Khaimah, Sharjah, and Umm Al Quwain. The UAE is governed by an elective monarchy. During the 21st century, the UAE has shifted its economic focus away from oil and gas, and instead, has turned its attention towards tourism and business. Additionally, the government does not impose an income tax. It is one of the richest countries worldwide.
36. Bangladesh
Total Wealth in 2021: $1.022 tn
Total Wealth in 2010: $236 bn
Percentage Change: 333.0%
Bangladesh is a South Asian country located to the east of India, known for its lush greenery and fertile plains. The Sundarbans, an enormous mangrove forest shared with Eastern India, is a famous natural habitat for the royal Bengal tiger. Bangladesh ranks 36th on our list of the top 50 richest countries in the world, with net worth increasing by an incredible 333% in 2021, compared to 2010.
35. Turkey
Total Wealth in 2021: $1.142 tn
Total Wealth in 2010: $1.718 tn
Percentage Change: -33.5%
The Republic of Türkiye, commonly known as Turkey, is a transcontinental nation that covers both Western Asia and Southeast Europe. Its capital city is Ankara, and Istanbul is the largest city and primary financial hub. Turkey, while one of the richest nations in the world with net wealth of $1.142 trillion, suffered a loss of 33.5% in wealth in 2021 as compared to 2010.
34. Portugal
Total Wealth in 2021: $1.287 tn
Total Wealth in 2010: $958 bn
Percentage Change: 34.3%
Portugal, known officially as the Portuguese Republic, is situated in southwestern Europe on the Iberian Peninsula. It also includes the Azores and Madeira islands in the Atlantic Ocean. The largest city and capital of Portugal is Lisbon. With net wealth of $1.287 trillion as of 2021, Portugal ranks 34th on our list of the top 50 richest countries in the world.
33. Thailand
Total Wealth in 2021: $1.341 tn
Total Wealth in 2010: $926 bn
Percentage Change: 44.8%
Thailand is a Southeast Asian country whose capital and largest city is Bangkok. The Thai economy relies heavily on exports, which include products such as cars, computers, electrical appliances, rice, textiles and footwear, fishery products, rubber, and jewelry. It is one of the richest nations in the world, with net worth increasing nearly 45% in 2021 as compared to 2010.
32. Egypt
Total Wealth in 2021: $1.405 tn
Total Wealth in 2010: $552 bn
Percentage Change: 154.5%
Egypt connects northeast Africa with the Middle East and has a rich history dating back to the time of the pharaohs. Its landmarks include ancient monuments along the Nile River Valley such as the Pyramids of Giza, Great Sphinx, and the Karnak Temple in Luxor. Egypt is one of the richest countries in the world, with total wealth in 2021 amounting to $1.405 trillion.
31. Norway
Total Wealth in 2021: $1.413 tn
Total Wealth in 2010: $988 bn
Percentage Change: 43.0%
Norway is a Nordic country located in Northern Europe, situated on the western and northern regions of the Scandinavian Peninsula. The capital and largest city is Oslo. Norway is one of the richest countries worldwide, with total wealth in 2021 amounting to $1.413 trillion.
30. Poland
Total Wealth in 2021: $1.525 tn
Total Wealth in 2010: $936 bn
Percentage Change: 62.9%
Poland, also known as the Republic of Poland, is situated in Central Europe and consists of 16 administrative provinces. It is one of the most populous member states of the European Union. Warsaw is the capital city and also the largest metropolis in Poland. It ranks 30th on our list of the top 50 richest countries in the world, with total wealth amounting to $1.525 trillion in 2021.
29. Israel
Total Wealth in 2021: $1.564 tn
Total Wealth in 2010: $697 bn
Percentage Change: 124.3%
Israel is a country in Western Asia that practices a parliamentary system with universal suffrage, where proportional representation is used. Israel is one of the richest countries in the world, with total wealth of $1.564 trillion in 2021. The country’s wealth increased 124.3% as compared to 2010.
Israel's business sector is quickly growing, with local companies preparing to compete against major corporations such as Amazon.com, Inc. (NASDAQ:AMZN), Tesla, Inc. (NASDAQ:TSLA), and Microsoft Corporation (NASDAQ:MSFT).
28. New Zealand
Total Wealth in 2021: $1.716 tn
Total Wealth in 2010: $707 bn
Percentage Change: 142.7%
New Zealand is an island country in the southwestern Pacific Ocean with Wellington as the capital and Auckland as its most populous city. It was the first country to introduce a minimum wage and give women the right to vote. The service sector is the largest contributor to New Zealand’s economy, followed by the industrial sector and agriculture, and international tourism is a significant source of revenue as well. It is one of the richest countries in the world.
27. Singapore
Total Wealth in 2021: $1.766 tn
Total Wealth in 2010: $925 bn
Percentage Change: 90.9%
Singapore, officially the Republic of Singapore, is a city-state located in Southeast Asia, known for its multicultural population and its recognition of the major ethnic groups within the nation. The country has four official languages, which are English, Malay, Mandarin, and Tamil. It is one of the richest countries in the world, with total wealth in 2021 amounting to $1.766 trillion.
26. Austria
Total Wealth in 2021: $1.825 tn
Total Wealth in 2010: $1.460 tn
Percentage Change: 25%
Austria is a landlocked country in Central Europe with nine states, one of which is Vienna, the capital city. It is a member of the United Nations, the European Union, and the OSCE, OPEC, and Interpol. Austria is a founding member of the OECD and signed the Schengen Agreement in 1995. It is one of the richest countries in the world, with total wealth of $1.825 trillion in 2021.
25. Denmark
Total Wealth in 2021: $1.935 tn
Total Wealth in 2010: $1.022 tn
Percentage Change: 89.3%
Denmark, a country in Northern Europe, consists of the Jutland Peninsula and over 400 islands in the North Sea, sharing its southern border with Germany. The capital of Denmark is Copenhagen, which is known for its royal palaces, Nyhavn harbor, and Tivoli amusement park, among other attractions. Denmark’s total wealth in 2021 came in at $1.935 trillion, making it one of the richest countries in the world.
24. Kingdom of Saudi Arabia
Total Wealth in 2021: $2.073 tn
Total Wealth in 2010: $849 bn
Percentage Change: 144.1%
Saudi Arabia is located in Western Asia, officially known as the Kingdom of Saudi Arabia. It is the largest country in the Middle East and Western Asia, and the second-largest in the Arab world. It encompasses most of the Arabian Peninsula and has Riyadh as its capital and biggest city. Additionally, Saudi Arabia is home to two important religious sites, Mecca and Medina, which are considered the holiest cities in Islam. Saudi Arabia is classified as a high-income economy by the World Bank and is the sole Arab nation that is included in the group of the world's 20 largest economies, known as the G20.
23. Islamic Republic of Iran
Total Wealth in 2021: $2.292 tn
Total Wealth in 2010: $653 bn
Percentage Change: 250.9%
Iran is an Asian country situated in Western Asia and is officially named the Islamic Republic of Iran, although it was formerly referred to as Persia. It holds a vital location in the Middle East and is considered a middle power in the region. Iran played a significant role in founding various organizations such as the United Nations, ECO, OIC, and OPEC. It is one of the richest countries in the world. Iran’s wealth in 2021 increased nearly 251% in 2021 as compared to 2010.
22. Kingdom of Sweden
Total Wealth in 2021: $2.990 tn
Total Wealth in 2010: $1.628 tn
Percentage Change: 83.6%
Sweden is a country in Scandinavia and its major cities are Stockholm, Gothenburg, and Malmö, all of which are located on the coast. Sweden provides a social welfare system that is typical of Nordic countries and offers its citizens with universal healthcare and tertiary education. It is among the countries with the highest GDP per capita globally and is known for its excellent quality of life, education, health, civil liberties, economic competitiveness, gender equality, and prosperity. It is one of the richest countries in the world by net worth.
21. Federative Republic of Brazil
Total Wealth in 2021: $3.327 tn
Total Wealth in 2010: $3.128 tn
Percentage Change: 6.3%
Brazil, officially known as the Federative Republic of Brazil, is the largest country in Latin America and South America. It is a regional and middle power, and is considered an advanced emerging power. Additionally, it is a significant non-NATO ally of the United States. With total wealth of $3.327 trillion in 2021, Brazil ranks 21st on our list of the richest countries in the world.
20. Republic of Indonesia
Total Wealth in 2021: $3.405 tn
Total Wealth in 2010: $1.359 tn
Percentage Change: 150.5%
Indonesia is a country located in Southeast Asia and Oceania, between the Indian and Pacific oceans. It is a regional power and middle power in global affairs, and a member of several multilateral organizations such as the United Nations, G20, and the Association of Southeast Asian Nations. It is one of the richest countries in the world.
19. Kingdom of Belgium
Total Wealth in 2021: $3.440 tn
Total Wealth in 2010: $2.565 tn
Percentage Change: 34.1%
The Kingdom of Belgium, located in Western Europe, is famous for its medieval towns, Renaissance architecture, and serves as the base of the European Union and NATO. The country is prosperous and has a highly developed high-income economy, making it a developed nation. Belgium is ranked as very high on the Human Development Index, indicating high standards of living. It is one of the richest nations in the world, with total wealth amounting to $3.44 trillion.
18. Hong Kong SAR
Total Wealth in 2021: $3.492 tn
Total Wealth in 2010: $1.588 tn
Percentage Change: 119.8%
Hong Kong is a special administrative region of China located in the eastern Pearl River Delta in South China. It is a major global financial center and one of the most developed cities in the world. It is one of the wealthiest countries in the world.
17. Russia
Total Wealth in 2021: $3.789 tn
Total Wealth in 2010: $2.165 tn
Percentage Change: 75.0%
Russia, officially known as the Russian Federation, is a country that spans Eastern Europe and Northern Asia. It is the world's largest country in terms of land area, shares boundaries with fourteen other countries, and extends across eleven time zones. Russia has the world's largest mineral and energy resources, and is a top global producer of oil and natural gas. Russia is one of the richest countries in the world.
As a result of the Russian war in Ukraine, corporations like Amazon.com, Inc. (NASDAQ:AMZN), Tesla, Inc. (NASDAQ:TSLA), and Microsoft Corporation (NASDAQ:MSFT) either suspended or completely ended their business operations in Russia.
16. Mexico
Total Wealth in 2021: $4.167 tn
Total Wealth in 2010: $2.229 tn
Percentage Change: 86.9%
Mexico is located in the southern part of North America and is officially known as the United Mexican States. With a large economy, population, and cultural influence, Mexico is considered a regional and middle power and is also seen as an emerging power due to its ongoing democratization efforts. It is one of the richest countries in the world, with total wealth in 2021 amounting to $4.167 trillion.
15. Switzerland
Total Wealth in 2021: $4.878 tn
Total Wealth in 2010: $2.892 tn
Percentage Change: 68.6%
Switzerland is a landlocked country situated in Western, Central, and Southern Europe. It is considered to be one of the most developed countries in the world and has been ranked first in the Human Development Index since 2021. Switzerland also performs well on various international measures, such as economic competitiveness and democratic governance. With total wealth of $4.878 trillion as of 2021, Switzerland is one of the richest countries in the world.
14. Netherlands
Total Wealth in 2021: $5.422 tn
Total Wealth in 2010: $3.323 tn
Percentage Change: 63.1%
The Netherlands, also known as Holland, is a country situated in Northwestern Europe and has some territories in the Caribbean. The biggest cities in the Netherlands are Amsterdam, Rotterdam, The Hague, and Utrecht, with Amsterdam being the most populous and considered the nominal capital. The Netherlands is a founding member of multiple international organizations, such as the European Union, NATO, and the OECD. It is also part of the Schengen Area and the Benelux Union. The Netherlands is one of the richest countries in the world.
13. Taiwan
Total Wealth in 2021: $5.878 tn
Total Wealth in 2010: $2.628 tn
Percentage Change: 123.6%
Taiwan, also known as the Republic of China, is located in East Asia. It is a well-developed country and is highly regarded for its healthcare system, human development, and civil liberties. Taiwan, with total wealth of $5.878 trillion in 2021, ranks 13th on our list of the top 50 richest countries in the world.
12. Kingdom of Spain
Total Wealth in 2021: $8.431 tn
Total Wealth in 2010: $8.701 tn
Percentage Change: -3.10%
Spain is a European country with territories in the Atlantic and Mediterranean. It is a secular parliamentary democracy and a constitutional monarchy. Madrid is its capital and largest city. Spain is a member of many international organizations such as the United Nations, the European Union, NATO, and the OECD.
11. Republic of Korea
Total Wealth in 2021: $10.149 tn
Total Wealth in 2010: $4.744 tn
Percentage Change: 113.9%
Korea is a region in East Asia that has been separated into two countries since 1945, with North Korea in the northern half and South Korea in the southern half. The region also includes Jeju Island and a few small islands near the peninsula. In 2021, Korea’s net worth came in at $10.149 trillion, making it one of the richest countries in the world.
Click to continue reading and see Top 10 Richest Countries In The World By Net Worth.
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Disclosure: None. Top 50 Richest Countries In The World By Net Worth is originally published on Insider Monkey.