Over the next decade, the United States will hold its position as home to the highest concentration of individuals with a net worth of at least $1 billion, according to research firm Knight Frank. But No. 2 China is minting billionaires at a faster clip.
The U.S. was home to 543 billionaires in 2012, a population that is expected to increase by 103 percent to 1,101 in a decade. But China is predicted to grow at more than twice the rate of the U.S.; by 2022, its population of 154 billionaires is predicted to increase by 214 percent, to 483. Third on the list was Germany, followed by the United Kingdom.
According to Wealth-X, even though global economic growth slipped to its lowest rate since 2009, wealth was still being created in 2012, with the high net worth showing a particular interest in investing in commercial real estate. The challenge was in obtaining credit and venture capital funding.
Check out this gallery to view the top 10 global cities for the rich.
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