Britain has the fourth highest number of millionaires in the world and the most in Europe

Oliver Gill
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Richard Branson has a net worth of almost £5bn according to the Sunday Times Rich List (Source: Getty)

The UK has the fourth highest number of millionaire households and is the top ranking European nation.

Some 821,000 households in the UK are millionaires in dollar terms, according to BCG’s Global Wealth 2017 report.

The total wealth of Britain’s millionaires was £6.5 trillion at the end of 2016, up from £6.1 trillion 12 months before.

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The top three places were occupied by the US, China and Japan. Germany dropped out of the top give to be replaced by Canada – it jumped from eighth position, buoyed by a rise in Canadian equities.

BCG’s report highlighted private wealth growth across all regions. North America, Western Europe, Latin America, and the Middle East and Africa posted stronger expansion than in the previous year, and Asia-Pacific, Eastern Europe, and Japan grew at slower rates.

Global private financial wealth grew by 5.3 per cent in 2016 to $166.5 trillion.This expansion was driven primarily by accelerating economic growth.

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