# Countries with the most billionaires

According to the 2013 Forbes Billionaire’s list, there are 1426 billionaires worldwide, spread across 64 countries. The USA heads the list with 442 billionaires, up from 425 in 2012. Here’s the top 10 list for 2013 ranked by the total number of billionaires; see also Huffington Post for a similar ranking for 2011 (http://www.huffingtonpost.com/2011/04/12/10-countries-with-thebillionaires_n_847693.html#s262728&title=8_Switzerland).

Table 1: 2013 Forbes Billionaires List Top 10 Countries by number of billionaires
Country
USA China Russia Germany India Brazil Turkey Hong Kong United Kingdom Canada

Rank (by number of billionaires)
1 2 3 4 5 6 7 8 9 10

Billionaires, Y
442 122 110 58 55 46 43 39 37 29

Population, x (millions)

315.44 1354.04 143.37 81.95 1210.19 193.95 75.63 7.136 63.18 35.002 Source: The World’s Billionaires, http://www.forbes.com/billionaires/ Now, here’s something interesting that you can take away from this table. Leaving China and India aside, the two countries with the highest populations, we see that, in general, as the population x increases, the number of billionaires y also increases. Germany has more billionaires than UK which has more billionaires than Canada, and so on. The x-y graph, see Figure 1 shows a nice linear trend, with the data for UK, Turkey, Germany, and the USA falling on
Page | 1

Once h is fixed. The slope h and the intercept c can be fixed using any two points (x1 . x [millions] Figure 1: Graphical representation of the 2013 Forbes annual billionaire data for eight of the top 10 countries ranked by number of billionaires (China and India re excluded since they distort the scale of the graph.. The slope h = (y2 – y1) /(x2 – x1) Intercept c = y1 – hx1 = y2 – hx2 …….(1) ……. since the several countries are aligned along line A. y2) in such a data set. y 400 y = hx + c = 1.645x – 76. Equation 1 follows from the basic definition of the slope of a straight line. y1) and (x2.the straight line A with the equation y = hx + c = 1. after a careful examination of the trends.645x – 76.(2) This is middle school math.. the unknown intercept c can be determined using equation 2 since the straight line passes through both the points.78 USA 300 200 100 0 0 50 100 150 200 250 300 350 400 UK Russia Brazil Population.) Page | 2 .78. 600 A 500 Billionaires. The US and German data were used.

Tiny Monaco.95) = ∆y/∆x =1.Thus h = (442 – 58)/(315.8 10 Switzerland 7.357 6 Cyprus 1. heads the per capita list. as seen in Figure 2. with three (3) billionaires and a population of 35. The numerical values of the constants A and B can be determined by preparing a graph of y versus x. Thus. the ratio y/x decreases as the population x increases. with populations of less than 10 million. Emma Roller. Page | 3 .645 where ∆y is the change in the number of billionaires and ∆x the change in the population.053 3 Guernsey 0. see Table 2.65 billionaires per million population. March 4.44 – 81. x (by per capita ratio) 1 Monaco 0. Table 2: Per capita rank and number of billionaires Rank Country Population.066 4 Hong Kong 7. or about 165 billionaires per 100 million of population.035 2 St. The constants A and B are then determined using classical linear regression analysis. 2013.2 9 Kuwait 2.1 7 Israel 7. the billionaires per capita. exactly the same linear law is also observed when we consider the data for the top 10 countries in the billionaires per capita list which appeared recently in Slate magazine. Billionaires.1 5 Belize 0. (billionaires per million of population.9 Source: Slate Magazine. since the inverse relation observed for the per capita data implies y = A + Bx.8 8 Singapore 5. since x is in million). The data can be described by the downward sloping hyperbola with the general equation y/x = A + (B/x). it appears that billionaires are being created at a fixed rate of 1. Kitts & Nevis 0. 427. The countries in this top 10 per capita list are smaller. However. y 3 1 1 39 1 3 17 10 5 13 Quite surprisingly.

00 4. is virtually identical to slope h = 1.scribd. (Monaco data was excluded in preparing this graph since it distorts the scale and masks the inverse hyperbolic relationship seen here.Billionaires per capita. The x-y graph is also illustrated in Figure 3. y/x [per million] 25 20 15 10 y/x = A + (B/x) = 1.com. the rate of creation of billionaires in the population seems to be a constant. x [millions] Figure 2: Graphical representation of the billionaires per capita data for nine of ten countries with populations of less than ten million. Page | 4 . and a population comparable to Israel. and also lie clearly above the hyperbola in Figure 2.00 8. was excluded from the regression analysis since it is clearly an “outlier” in this graph. These results have been discussed in detail in two recently published articles uploaded at www.00 6. with 39 billionaires.646 deduced from the data for some of the world’s largest countries. across countries.) Source of data: Slate magazine. [3] and [4]. It is indeed remarkable that the numerical values of the slope h = 1. see Refs. Hong Kong. Only the data for nine of ten countries is included in Figure 3. Emma Roller.00 2.117/x 2 r = 0. for the smaller populations.951 Hong Kong 5 0 0.00 Population.736.736 + 1. In other words.00 12.00 10.

huffingtonpost. click here.117 2 r = 0.0 10. Slate magazine. 10 Countries with the most billionaires. 2011.0 4.0 6. x [millions] Figure 3: Graphical representation of the 2013 Forbes annual billionaire data for nine of ten countries with populations of less than ten million which also make the top 10 list for billionaires per capita (Slate magazine.slate. 2013. March 4.951 Switzerland Singapore 12 8 Monaco Kuwait Cyprus 4 0 0.com/blogs/moneybox/2013/03/04/forbes_billionaires_l ist_countries_with_the_most_billionaires_per_capita.0 2. by Harry Bradford. y y = hx + c = 1. Reference List 1. http://www. updated June 12.736x + 1.html 2. First posted April 12. or see http://www. The Huffington Post. Which Country Has the Most Billionaires Per Capita? By Emma Roller.0 8.20 Israel 16 Billionaires.com/2011/04/12/10-countries-with-thebillionaires_n_847693. Emma Roller). 2011.html#s262776&title=4_India Page | 5 .0 Population.

The sum of these squares is minimum. (x – xm) and (y – ym).ac. ym). 6.com/hotmath_help/topics/line-of-best-fit. This can be checked by assigning other values for h (using any two points) and allowing the graph to pivot around (xm.com/doc/128610494/The-Forbes-Billionaires-andCalculus-Is-Einstein-s-Work-Function-Observed-Here 4. English Translation of the original paper in French.pdf 7. since it only involves the determination of x2 and xy and the sum of all the values of x. Then.uk/depts/maths/histstat/legendre. see worked example given here http://hotmath.yb)2. Billionaires and Calculus: Ratio versus Rate of Change Is Einstein’s Work Function Observed In this Problem? Published March 5. or “average”. Least Squares Method.york.yb)2 / ∑(y. r2 =+1.{ ∑(y. h = ∑ (x – xm)(y – ym)/ ∑ (x – xm)2 Determine the deviations of the individual x and y values from the “mean”. For a perfect correlation. http://www. This gives the denominator in the expression for h. This also fixes the intercept c via ym = hxm = c . On Least Squares. Determine the product (x – xm)(y – ym) and their sum.3. x2 and xy. 2013. using the regression equation. http://www. Line of Best-Fit. http://www. to be published shortly. with xm and ym denoting the “mean” or “average” values of x and y in the data set. and ym = hxm + c since the “bestfit” line always passes through the point (xm . ym). 2013. when all points lie exactly on the graph. is given below. Billionaires and the Population Law: Analysis of the 2013 Forbes Billionaire’s List.html The formula for h used in this example is an actually approximate one and was used. determine the predicted value yb on the best-fit line and the vertical deviation (y – yb) and the squares (y. before the advent of modern computers. Legendre.000. Page | 6 .scribd. This gives the numerator in the expression for h.scribd. The regression coefficient r2 = 1 . The Rate of Creation of Billionaires: Analysis of the Forbes 2013 Billionaire List. The exact formula.ym)2 } is a measure of the strength of the correlation between x and y (or y/x versus x). Published March 6. Determine the square (x – xm)2 and the sum.com/doc/128944910/The-Rate-of-Creation-ofBillionaires-Analysis-of-the-2013-Forbes-Billionaire-s-List 5. y.

from the Indian Institute of Science. and.g. D. D. The author obtained his Bachelor’s degree (B. Sc. Case Western Reserve University (CWRU). i. He then spent his entire professional career at leading US research institutions (MIT.). Laxmanan. freezing of water. he has been interested in the analysis of the large volumes of data from financial and economic systems and has developed what may be called the Quantum Business Model (QBM). More recently. MI). Bangalore.e. E. MA. Allied Chemical Corporate R & D. This led to a simple model to explain the growth of dendritic structures in both the ground-based experiments and in the space shuttle experiments. and General Motors Research and Development Center in Warren. freezing of all commercial metals and alloys.) degrees in Materials Engineering from the Massachusetts Institute of Technology.) in Mechanical Engineering from the University of Poona and his Master’s degree (M.) and Doctoral (Sc. While at NASA and CWRU. Cambridge. energy in physics is like money in economics. E. Einstein applied Planck’s ideas to describe the photoelectric effect (by treating light as being composed of particles called photons. The mathematical law deduced by Page | 7 . production of snowflakes!). He holds four patents in materials processing. has co-authored two books and published several scientific papers in leading peer-reviewed international journals. NASA. USA. now part of Honeywell. His expertise includes developing simple mathematical models to explain the behavior of complex systems. yes. each with the fixed quantum of energy conceived by Planck).About the author V. This extends (to financial and economic systems) the mathematical arguments used by Max Planck to develop quantum physics using the analogy Energy = Money. M. also in Mechanical Engineering. he was responsible for developing material processing experiments to be performed aboard the space shuttle and developed a simple mathematical model to explain the growth Christmas-tree.. like structures (called dendrites) widely observed in many types of liquid-to-solid phase transformations (e.. followed by a Master’s (S. or snowflake.

might actually have many applications far beyond blackbody radiation studies where it was first conceived. who was Chairman of Corporate Research Review Committee. It appears that financial and economic systems can be modeled using a similar approach. Finance. 1986) and second at GM Research Labs to Prof. Robert Solow (1987 Nobel Prize in economics). Finally. appointed by GM corporate management. referred to here as the generalized power-exponential law. Cover page of AirTran 2000 Annual Report Can you see that plane flying above the tall tree tops that make a nearly perfect circle? It requires a great deal of imagination to see and photograph it. business. Robert Schrieffer (1972 Physics Nobel Prize). during my professional career. Page | 8 . Einstein’s photoelectric law is a simple linear law and was deduced from Planck’s non-linear law for describing blackbody radiation. economics and management sciences now essentially seem to operate like astronomy and physics before the advent of Kepler and Newton. who was the Chairman of the Schrieffer Committee appointed to review NASA’s space flight experiments (following the loss of the space shuttle Challenger on January 28.Planck. I also twice had the opportunity and great honor to make presentations to two Nobel laureates: first at NASA to Prof.