I took an interesting look at the statistics on the number of billionaires by country for 2025. The lead is held by the USA with 870 billionaires, China is slightly behind with 823. The gap is much smaller than I expected.

India is already in third place with 284 — this shows how quickly the middle class and the number of wealthy people are growing there. The United Kingdom and Germany hold positions in the top 5, but their shares are much more modest.

European countries are generally well represented on the list — Switzerland, France, Italy, Sweden. But when looking at the number of billionaires per capita, small countries like Switzerland and Singapore look much more impressive.

The Asian region is clearly gaining strength — India, Singapore, Indonesia, Thailand, Japan, South Korea are in the top 20. This clearly reflects the shift of economic power to the East. It will be interesting to see how these numbers look in a couple of years.