The United States is home to more millionaires than any other country in the world. But whether the country is truly the wealthiest in the world depends on how you measure. Judging by where the greatest number of people are well off, Australia is taking the top spot.

A report released by Credit Suisse in October says the US is “in the lead” when it comes to global wealth. Yet a closer look at the numbers in that report reveals a different story.

When it comes to median wealth, Australians are the richest people in the world. Credit:Louie Douvis

While it’s true that wealth in the US is growing faster than anywhere else in the world, it’s not the richest when you compare the average amount of wealth per adult.

That prize goes to Switzerland, as you can see in the map below. Australia is in second place, ahead of the US.