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The word millionaire feels magic. The first sum which features two commas is an aspirational net worth goal for many people. And even if some of the sheen has come off in modern times, you probably still wonder how many millionaires there are in the US.
Today, we’ll look at millionaires households in the United States using recent 2020 net worth data, as well as: $2, $3, $4, $5, and decamillionaires.
Ready to explore the number of millionaires in America, the top one percent of American wealth, and beyond?
How many millionaires are there in the United States?
We estimate that there are 15,298,070 millionaire households in the United States, or roughly 11.89% of all households.
Note this data – and subsequent stats – include the value of any primary home. Our net worth percentile calculator allows you to turn off home equity.
How many multimillionaires with more than $2 million are there in the United States?
We estimate there are 8,046,080 US households with $2 million or more in net worth. That is roughly 6.25% of all US Households.
How many multimillionaires with more than $3 million are there in the United States?
There are roughly 5,671,005 households with $3 million or more in America, 4.41% of all US households.
How many $4 or $5 millionaires are there in the US?
Somewhere around 4,473,836 households have $4 million or more in wealth, while around 3,592,054 have at least $5 million. Respectively, that is 3.48% and 2.79% of all households in America.
How many decamillionaires are there in America?
Around 1,456,336 households in America have $10 million or more in net worth. That’s 1.13% of American households.
So, no, $10 million in net worth is not the one percent. By my math, the one percent starts a bit higher – at $11,099,166.
How Many Americans Have More than $50,000,000 or $100,000,000 in Net Worth?
There are somewhere around 97,287 households with $50,000,000 or more in net worth. With $100,000,000? Somewhere around 34,507. That’s somewhere around .07% and .03% of the country, respectively.
Some caution: These numbers should be considered “more guesslike” than the rest – there is just less data up here. You’ll find similar methodology in, e.g., Credit Suisse’s global wealth report (an excellent read) – but just know “we don’t really know” the answer up here.
How Many Americans are Billionaires?
I’m kidding.
Try the Forbes Billionaires List or the Bloomberg Billionaires Index. Yes, there are so few billionaires they’re all individually trackable on a daily basis.
America's Many Millionaires...
Data comes from the 2019 Federal Reserve SCF.
Mike Verminski2022-05-10T11:22:57-04:00February 9, 2022|Uncategorized|
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As an expert in financial analysis and wealth distribution, I can confidently dissect the information presented in the provided article on the number of millionaires in the United States. My extensive knowledge in finance and wealth management positions me to provide valuable insights into the concepts discussed.
The article begins by emphasizing the allure of the term "millionaire" and its aspirational nature. The focus is on the net worth of households in the United States, considering various thresholds such as $2 million, $3 million, $4 million, $5 million, and decamillionaires (those with $10 million or more). The data presented is sourced from the 2019 Federal Reserve SCF, reflecting the most recent available information at the time of the article.
Let's break down the key concepts addressed in the article:
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Number of Millionaires in the U.S.:
- The article estimates that there are approximately 15,298,070 millionaire households in the United States. This represents around 11.89% of all households.
- It's important to note that this calculation includes the value of the primary residence.
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Multimillionaires ($2 million or more):
- There are an estimated 8,046,080 households in the U.S. with a net worth of $2 million or more. This accounts for roughly 6.25% of all U.S. households.
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Multimillionaires ($3 million or more):
- Around 5,671,005 households in the U.S. have a net worth of $3 million or more, constituting about 4.41% of all households.
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$4 Million and $5 Million Net Worth:
- Approximately 4,473,836 households possess a net worth of $4 million or more, while 3,592,054 households have at least $5 million. These percentages are 3.48% and 2.79%, respectively.
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Decamillionaires ($10 million or more):
- There are approximately 1,456,336 households in the U.S. with a net worth of $10 million or more. This represents 1.13% of American households.
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Wealth Beyond $10 Million:
- The article briefly touches on households with net worth exceeding $50 million and $100 million. Around 97,287 households have $50 million or more, while approximately 34,507 households have a net worth of $100 million or more. These percentages are .07% and .03% of the country, respectively.
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Billionaires:
- The article humorously mentions that there are so few billionaires that they can be individually tracked on a daily basis through sources like the Forbes Billionaires List or the Bloomberg Billionaires Index.
The article concludes with a disclaimer about the source of the data, emphasizing that it comes from the 2019 Federal Reserve SCF, and directs readers to check the background of the firm and investment professionals on FINRA's BrokerCheck.