The past couple of years have been a struggle, to say the least, but for Canada’s wealthiest people, the pandemic only added more digits to their bank accounts. Wealth-X has released its billionaire census for 2021 and it shows that Canada is now home to even more of them than before.
The 2021 report analyzes data from the previous year about the world’s leading billionaire countries, including which of them have the wealthiest residents and how much money they have combined.
Canada actually climbed up a spot from the previous year, now in 13th place out of a ranking of 15 countries. It lands just under Brazil and above the United Arab Emirates and Singapore.
There are now 53 billionaires residing in the Great White North, seven more than were recorded in last year’s report. In total, these folks have a combined $100 billion USD, which comes out to roughly $127 billion CAD. That’s a 4.5% annual increase, according to Wealth-X. Many of them were recently named in Forbes Billionaire List for 2021.
Coming in first place in the Wealth-X ranking is the U.S., with 927 billionaires and an eye-watering $3,709 billion in combined wealth. That’s because four out of the five richest billionaires in the world are Americans and we probably don’t need to tell you their names at this point. New York City is the city with the most billionaires and is home to 124 of them.
China lands in second place with 410 billionaires, Germany in third place with 174, Russia in fourth place with 120, and the U.K. in fifth place with 119.
Wealth-X says that 2020 saw the largest absolute growth in billionaire individuals, which is especially astounding given how much financial hardship that the pandemic caused for so many others.
The company also says that nearly half of the world’s richest billionaires earned their coin in the tech sector and that the number of self-made female billionaires grew substantially in 2020.