I was so shocked by the numbers in this graphic I had to double-check the data source.
Sure enough, the U.S. has been surpassed as the home of the most billionaires. We have (only) 571 billionaires compared to 819 in Greater China. And India is now in 3rd place.
But what surprised me was the size of the gap between China and the U.S.
Of course, we know that China is now the #2 economy. And it’s growing much faster than the U.S. economy. It’s home to more consumers than the U.S. due to its huge population.
“This rise of billionaires in China has coincided with the liberalization of its economy and successive high growth rates,” explains Statista, which compiled the data.
China may have a few less billionaires now thanks to the current tech pullback and tariff wars, but let’s not lose sight of the big picture. There is enormous growth and innovation occurring outside our borders, and U.S. investors today need to be attuned and receptive to international business opportunities. Many foreign markets are now in a periodic funk but they’ll recover, and lower price points overseas will make them attractive investments for far-sighted U.S. investors.
The Takeaway: It is still a global marketplace, and many of the best opportunities are outside the U.S. Keep an open mind, stay diversified, and be ready to capitalize on bargains overseas.