- The United States added 2,251,000 new millionaires from 2019 to 2020.
- The total number of millionaires in the US is 20.27 million.
- There are 788 billionaires in the United States.
- There are 323,443 millionaire households in New Jersey.
- 76% of US millionaires are white.
- New York is the city with the biggest concentration of ultra-rich millionaires with 24,660 UHNW.
- The United States’ millennial millionaires own an average of three properties with a real estate portfolio worth $1.4 million.
- About 44% of US-based millennial millionaires live in California.
- 43.4% of the world’s wealth is controlled by the top 1%.
1. How many millionaires are in the US in 2020? (Source: Credit-Suisse)
The Global Wealth Report says that the total number of millionaires in the US is 20.27 million. The United States also added 2,251,000 new millionaires from 2019 to 2020 alone, which puts it at the very top of the list of countries with the most millionaires. Since the adult US population is around 250 million, that means that just over 8% of Americans are millionaires.
The Global Wealth Report says that the total number of millionaires in the US is 20.27 million. The United States also added 2,251,000 new millionaires from 2019 to 2020 alone, which puts it at the very top of the list of countries with the most millionaires. Since the adult US population is around 250 million, that means that just over 8% of Americans are millionaires.
2. How many US millionaire households are there? (Source: Spectrem)
A new survey has found that there are 13.61 million households that have a net worth of $1 million or more, not including the value of their primary residence. That’s more than 10% of households in the US.
3. What percentage of millionaires inherited their wealth? (Source: Ramsey Solutions)
Only about 20% of Americans inherit their riches. The rest of them (80%) are self-made, first-generation millionaires. Most millionaires have to work for the money and don’t get rich once a relative dies, according to “The Millionaire Next Door: The Surprising Secrets of America’s Wealthy” by Thomas J Stanley.
4. How many people are worth 10 million? (Source: DQYDJ)
There are an estimated 1,456,336 households with a net worth of at least $10 million. It is important to note that we are talking about a household, not an individual. So there may be more than one person earning in a single household.
A new survey has found that there are 13.61 million households that have a net worth of $1 million or more, not including the value of their primary residence. That’s more than 10% of households in the US.
3. What percentage of millionaires inherited their wealth? (Source: Ramsey Solutions)
Only about 20% of Americans inherit their riches. The rest of them (80%) are self-made, first-generation millionaires. Most millionaires have to work for the money and don’t get rich once a relative dies, according to “The Millionaire Next Door: The Surprising Secrets of America’s Wealthy” by Thomas J Stanley.
4. How many people are worth 10 million? (Source: DQYDJ)
There are an estimated 1,456,336 households with a net worth of at least $10 million. It is important to note that we are talking about a household, not an individual. So there may be more than one person earning in a single household.
5. How many multi-millionaires are in the US? (Source: DQYDJ)
About 8,046,080 US households have a net worth of $2 million or more, covering about 6.25% of American households. 5,671,005 US households have a net worth of $3 million or more, covering about 4.41% of all US households.
About 8,046,080 US households have a net worth of $2 million or more, covering about 6.25% of American households. 5,671,005 US households have a net worth of $3 million or more, covering about 4.41% of all US households.
6. How many multi-millionaires in the US have $50 million net assets? (Source: Credit-Suisse)
There are a total of 89,510 people in the United States with net assets of at least $50 million. This number equals 50.9% of the ultra-high net worth (UHNW) individuals over the world.
7. How many billionaires in the US are there? (Source: Wealth-X)
According to a census report in 2020, there are 788 billionaires in the United States with a combined net worth of $3.431 trillion. In contrast, the United States had 404 billionaires in 2010.
There are a total of 89,510 people in the United States with net assets of at least $50 million. This number equals 50.9% of the ultra-high net worth (UHNW) individuals over the world.
7. How many billionaires in the US are there? (Source: Wealth-X)
According to a census report in 2020, there are 788 billionaires in the United States with a combined net worth of $3.431 trillion. In contrast, the United States had 404 billionaires in 2010.
8. How many millionaires are in Congress? (Source: Center for Responsive Politics)
There are 229 millionaires in Congress. The exact number is hard to determine since Congress members reveal their finances in ranges. But according to the Center for Responsive Politics, 43% of congress members had a net worth of over $1 million in 2018. That’s 43%, over seven times the national rate of 6%.
9. What is the average age of US millionaires? (Source: Spectrem)
According to a report about the US millionaire population by age, the average age of US millionaires is 62 years old. About 38% of US millionaires are over 65 years of age. Only 1% are below 35. Millionaires on the West Coast are slightly older, as well.
10. What is the percentage of millionaires in America by race? (Source: Statista)
According to the most recent data available, 76% of US millionaires were white or Caucasian. Black American and Asian millionaires each accounted for just 8%. Hispanics made up 7% of the total millionaire population.
There are 229 millionaires in Congress. The exact number is hard to determine since Congress members reveal their finances in ranges. But according to the Center for Responsive Politics, 43% of congress members had a net worth of over $1 million in 2018. That’s 43%, over seven times the national rate of 6%.
9. What is the average age of US millionaires? (Source: Spectrem)
According to a report about the US millionaire population by age, the average age of US millionaires is 62 years old. About 38% of US millionaires are over 65 years of age. Only 1% are below 35. Millionaires on the West Coast are slightly older, as well.
10. What is the percentage of millionaires in America by race? (Source: Statista)
According to the most recent data available, 76% of US millionaires were white or Caucasian. Black American and Asian millionaires each accounted for just 8%. Hispanics made up 7% of the total millionaire population.
11. What is the average age of US billionaires? (Source: Wealth-X)
The average age of billionaires is slightly higher than that of millionaires at 65.9 years old. According to a 2016 report, only 46 people became billionaires before the age of 40. This further reaffirms that billionaires are not made overnight but are built through experience and time.
The average age of billionaires is slightly higher than that of millionaires at 65.9 years old. According to a 2016 report, only 46 people became billionaires before the age of 40. This further reaffirms that billionaires are not made overnight but are built through experience and time.
12. What is the average millennial millionaire’s net worth? (Source: Coldwell Banker)
There are 618,000 millennial millionaires in the United States, and 93% of them have a net worth ranging from $1 to $2.49 million. The boomers’ generation was the richest generation in the history of the United States. They are leaving huge piles of wealth to their Gen X and millennial descendants. However, many of these millennials are earning good money all by themselves as well.
There are 618,000 millennial millionaires in the United States, and 93% of them have a net worth ranging from $1 to $2.49 million. The boomers’ generation was the richest generation in the history of the United States. They are leaving huge piles of wealth to their Gen X and millennial descendants. However, many of these millennials are earning good money all by themselves as well.
13. What percentage of US wealth is managed by millionaires? (Source: Federal Reserve)
According to the Federal Reserve, the top 10% in the US own 69.6% of the nation’s wealth. If you need a clearer example of financial inequality you just need to know that around a third of the US wealth (31.4%) is owned by the top 1%, which is almost 16 times more than the bottom 50% who own 2% of it.
According to the Federal Reserve, the top 10% in the US own 69.6% of the nation’s wealth. If you need a clearer example of financial inequality you just need to know that around a third of the US wealth (31.4%) is owned by the top 1%, which is almost 16 times more than the bottom 50% who own 2% of it.
14. How long did it take Billionaires to Earn Their First Million? (Source: Visual Capitalist)
Most self-made billionaires earned their first million dollars within five years. Out of the top 100 billionaires in the world, over two-thirds (69%) made their first million in under ten years.
Most self-made billionaires earned their first million dollars within five years. Out of the top 100 billionaires in the world, over two-thirds (69%) made their first million in under ten years.
15. Which state has the highest percentage of millionaires? (Source: Kiplinger)
According to a 2020 report, New Jersey wrested the top spot from Maryland when it comes to millionaire per capita. There are 323,443 millionaire households in New Jersey, thanks to its proximity to the Big Apple. With that concentration of wealth, it’s not surprising that the cost of living in the state is 13.4% higher than the US average.
According to a 2020 report, New Jersey wrested the top spot from Maryland when it comes to millionaire per capita. There are 323,443 millionaire households in New Jersey, thanks to its proximity to the Big Apple. With that concentration of wealth, it’s not surprising that the cost of living in the state is 13.4% higher than the US average.
16. Which state has the highest number of billionaires? (Source: Forbes)
While California takes the lead here with 189 billionaires, the wealthiest Americans don’t live in these two states, Mark Zuckerberg being the only exception. Jeff Bezos and Bill Gates both live in Washington, while Warren Buffett resides in Nebraska, and Elon Musk recently moved to Texas.
17. Where do millionaires invest their money? (Source: The College Investor)
Investing in real estate is still the most popular of all millionaire investment and spending choices. For over 200 years, approximately 90% of the global millionaires have been spending their fortunes on real estate investments. This trend is expected to grow.
18. Which US city has the highest number of UHNW people? (Source: Wealth-X)
New York is the city with the highest concentration of ultra-rich millionaires, with 24,660 UHNW. The second spot belongs to Los Angeles, with 16,295 millionaires. San Francisco is third, with 6,740 millionaires. Chicago and Miami take the fourth and fifth positions with 6,085 and 5,615 UHNW individuals, respectively.
While California takes the lead here with 189 billionaires, the wealthiest Americans don’t live in these two states, Mark Zuckerberg being the only exception. Jeff Bezos and Bill Gates both live in Washington, while Warren Buffett resides in Nebraska, and Elon Musk recently moved to Texas.
17. Where do millionaires invest their money? (Source: The College Investor)
Investing in real estate is still the most popular of all millionaire investment and spending choices. For over 200 years, approximately 90% of the global millionaires have been spending their fortunes on real estate investments. This trend is expected to grow.
18. Which US city has the highest number of UHNW people? (Source: Wealth-X)
New York is the city with the highest concentration of ultra-rich millionaires, with 24,660 UHNW. The second spot belongs to Los Angeles, with 16,295 millionaires. San Francisco is third, with 6,740 millionaires. Chicago and Miami take the fourth and fifth positions with 6,085 and 5,615 UHNW individuals, respectively.
19. How many properties are owned by the average American millionaire? (Source: Statista)
The largest fraction (43%) of millionaires in the US owns only one house. Roughly 20% own two, and only 8.5% of them own five or more. When it comes to millennial millionaires, they own an average of three properties with a real estate portfolio worth $1.4 million.
The largest fraction (43%) of millionaires in the US owns only one house. Roughly 20% own two, and only 8.5% of them own five or more. When it comes to millennial millionaires, they own an average of three properties with a real estate portfolio worth $1.4 million.
20. Which industries have the most UHNW individuals? (Source: Wealth-X)
The finance and investment industry is definitely the industry with the most millionaires and UHNW people. Roughly 14% of all UHNW individuals engage in it as their primary industry. Industrial conglomerates come in second, with 9.1%, and they’re closely followed by the business and customer services industry at 9%.
The finance and investment industry is definitely the industry with the most millionaires and UHNW people. Roughly 14% of all UHNW individuals engage in it as their primary industry. Industrial conglomerates come in second, with 9.1%, and they’re closely followed by the business and customer services industry at 9%.
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