(TIME) China now has the second-highest number of millionaires in the world, according to a new report. That puts it firmly in second place — right behind the U.S.
China recorded 2,378,000 millionaires in 2013, compared to the U.S.’ 7,135,000 millionaires, according to Boston Consulting Group’s 2014 Global Wealth Report. China’s millionaire growth skyrocketed last year, shooting up 82% from 2012. To put that in perspective, the U.S. only grew 18% during the same period.