The majority of the world’s rich ― the top 1 percent ― reside in the United States, Japan and France, reports said.

About 18 million out of the 47 million wealthy people with more than $798,000 each in assets are living in the United States, according to the BBC and the Credit Suisse 2014 Annual Report.

The U.S. was followed by Japan (4.04 million rich people), France (3.52 million), Britain (2.9 million) and Germany (2.75 million).

Meanwhile, South Korea had 448,000 people who were in the world’s top 1 percent.

Switzerland had the highest ratio of 1 percenters, with 10 percent (800,000 people) of its population belonging to the world’s 1 percent. About 1 percent of South Korea’s population made it into the world’s top 1 percent.

According to the report, the world’s top 1 percent owns about 48 percent of the world’s wealth, while the bottom 50 percent of the population own only 1 percent of that amount.