Topic: Millionaires in the U.S. (2024)

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    The number of American households with assets of one million U.S. dollars or more has been steadily increasing in the over the last decade. About 6.98 million individuals in North America had financial assets worth at least one million U.S. dollars in 2020, which was an increase of 2.67 million in comparison to 2008. While the millionaire population has been growing throughout the economic recovery, the strongest growth has been at the very top of the wealth ladder.


    Net worth

    In the first quarter of 2021, the top one percent in the U.S. owned 53.5 percent of all stocks and mutual funds, while the bottom 90 percent owned 11.4 percent. This value may not mean much to the average person until you see just how much value the high net-worth population has. In combination with individuals across the continent, the total value of the high net-worth individuals in North America came to 24.32 trillion U.S. dollars in 2020.

    Demographics

    In 2020, a total of 110,850 individuals with net assets of at least 50 million U.S. dollars were residing in the United States. That is about 54 percent of the total number of ultra-high net worth individuals (UHNW) worldwide. Other aspects of the wealthy population are disproportionate as well. In 2019, about 56 percent of UHNW individuals in the United States were male.

    This text provides general information. Statista assumes no liability for the information given being complete or correct. Due to varying update cycles, statistics can display more up-to-date data than referenced in the text.

    Published by Statista Research Department, Jul 3, 2024

    Key insights

    Number of individuals worth more than 1m USD in the U.S
    22.7m

    Topic: Millionaires in the U.S. (2)

    Detailed statistics

    Number of people with wealth over one million U.S dollars 2022, by country

    Share of stock & mutual funds held by top 1 percent in the U.S.
    53.5%

    Topic: Millionaires in the U.S. (3)

    Detailed statistics

    U.S. distribution of assets by category and wealth percentile Q1 2021

    Share of U.S. population who are millionaires
    9%

    Topic: Millionaires in the U.S. (4)

    Detailed statistics

    Countries with the highest millionaire rate in 2022

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    Overview

    6
    • Basic Statistic Number of people with wealth over one million U.S dollars 2022, by country
    • Premium Statistic Countries with the highest millionaire rate in 2022
    • Premium Statistic Ultra high net worth individuals: population of global 1 percent 2022, by country
    • Basic Statistic U.S. wealth distribution Q1 2024
    • Premium Statistic Number of millionaire households U.S. 2006-2020
    • Basic Statistic U.S. the richest people in America 2024

    Overview

    • Basic Statistic Number of people with wealth over one million U.S dollars 2022, by country

      Topic: Millionaires in the U.S. (8)

      Number of people with wealth over one million U.S dollars 2022, by country

      Countries with the most individuals with a net worth over one million U.S. dollars in 2022 (in thousands)

    • Premium Statistic Countries with the highest millionaire rate in 2022

      Topic: Millionaires in the U.S. (9)

      Countries with the highest millionaire rate in 2022

      Countries with the highest proportion of millionaires in 2022

    • Premium Statistic Ultra high net worth individuals: population of global 1 percent 2022, by country

      Topic: Millionaires in the U.S. (10)

      Ultra high net worth individuals: population of global 1 percent 2022, by country

      Number of people belonging to the global top 1 percent of wealth holders* in 2022, by country (in 1,000s)

    • Basic Statistic U.S. wealth distribution Q1 2024

      Topic: Millionaires in the U.S. (11)

      U.S. wealth distribution Q1 2024

      Wealth distribution in the United States in the first quarter of 2024

    • Premium Statistic Number of millionaire households U.S. 2006-2020

      Topic: Millionaires in the U.S. (12)

      Number of millionaire households U.S. 2006-2020

      Number of millionaire households in the United States from 2006 to 2020 (in millions)

    • Basic Statistic U.S. the richest people in America 2024

      Topic: Millionaires in the U.S. (13)

      U.S. the richest people in America 2024

      Estimated net worth of the 20 richest people in the United States in 2024 (in billion U.S. dollars)

    Net worth

    5
    • Premium Statistic U.S. quarterly wealth distribution 1989-2023, by income percentile
    • Premium Statistic U.S. high net worth individuals 2008-2021
    • Premium Statistic North America wealth of high net worth individuals 2008-2021
    • Premium Statistic Asset allocation of high net worth individuals in North America 2021
    • Premium Statistic U.S. distribution of assets by category and wealth percentile Q1 2021

    Net worth

    • Premium Statistic U.S. quarterly wealth distribution 1989-2023, by income percentile

      Topic: Millionaires in the U.S. (14)

      U.S. quarterly wealth distribution 1989-2023, by income percentile

      Distribution of net wealth in the United States from Q4 1989 to Q1 2024, by income percentile

    • Premium Statistic U.S. high net worth individuals 2008-2021

      Topic: Millionaires in the U.S. (15)

      U.S. high net worth individuals 2008-2021

      Number of high net worth individuals in the United States from 2008 to 2021 (in millions)

    • Premium Statistic North America wealth of high net worth individuals 2008-2021

      Topic: Millionaires in the U.S. (16)

      North America wealth of high net worth individuals 2008-2021

      Total wealth of high net worth individuals in North America from 2008 to 2021 (in billion U.S. dollars)

    • Premium Statistic Asset allocation of high net worth individuals in North America 2021

      Topic: Millionaires in the U.S. (17)

      Asset allocation of high net worth individuals in North America 2021

      Asset allocation of high net worth individuals in North America in 2021

    • Premium Statistic U.S. distribution of assets by category and wealth percentile Q1 2021

      Topic: Millionaires in the U.S. (18)

      U.S. distribution of assets by category and wealth percentile Q1 2021

      Distribution of asset holdings in the United States in Q1 2021, by asset category and wealth percentile

    Demographics

    7
    • Premium Statistic Share of households who are millionaires by state U.S. 2020
    • Premium Statistic Number of households who are millionaires. by state U.S. 2020
    • Basic Statistic U.S. states with highest ratio of millionaire households per capita 2020
    • Premium Statistic U.S. metropolitan areas with the highest share of millionaire households 2020
    • Basic Statistic Richest self-made women in the United States 2024, based on net worth
    • Premium Statistic Distribution of UHNW individuals by gender U.S. 2019
    • Premium Statistic Share of U.S. families who are millionaires 2016, by ethnicity

    Demographics

    • Premium Statistic Share of households who are millionaires by state U.S. 2020

      Topic: Millionaires in the U.S. (19)

      Share of households who are millionaires by state U.S. 2020

      Share of households in the United States with one million or more U.S. dollars in investible assets in 2020, by state

    • Premium Statistic Number of households who are millionaires. by state U.S. 2020

      Topic: Millionaires in the U.S. (20)

      Number of households who are millionaires. by state U.S. 2020

      Number of households in the United States with one million or more U.S. dollars in investible assets in 2020, by state

    • Basic Statistic U.S. states with highest ratio of millionaire households per capita 2020

      Topic: Millionaires in the U.S. (21)

      U.S. states with highest ratio of millionaire households per capita 2020

      American states with highest ratio of millionaire households per capita in 2020

    • Premium Statistic U.S. metropolitan areas with the highest share of millionaire households 2020

      Topic: Millionaires in the U.S. (22)

      U.S. metropolitan areas with the highest share of millionaire households 2020

      Metropolitan areas in the United States with the highest share of millionaire households in 2020, by share of total households

    • Basic Statistic Richest self-made women in the United States 2024, based on net worth

      Topic: Millionaires in the U.S. (23)

      Richest self-made women in the United States 2024, based on net worth

      Richest self-made women in the United States in 2024, based on net worth (in billion U.S. dollars)

    • Premium Statistic Distribution of UHNW individuals by gender U.S. 2019

      Topic: Millionaires in the U.S. (24)

      Distribution of UHNW individuals by gender U.S. 2019

      Distribution of ultra-high net worth individuals in the United States in 2019, by gender

    • Premium Statistic Share of U.S. families who are millionaires 2016, by ethnicity

      Topic: Millionaires in the U.S. (25)

      Share of U.S. families who are millionaires 2016, by ethnicity

      Share of families in the United States who are millionaires in 2016, by ethnicity

    Billionaires

    7
    • Basic Statistic U.S. billionaires 1990-2023
    • Premium Statistic U.S. distribution of billionaires 2022, by gender
    • Premium Statistic States with the most billionaires in the U.S. 2024
    • Premium Statistic U.S. combined value of billionaire wealth 2020-2022
    • Premium Statistic U.S. opinions of billionaires 2022
    • Basic Statistic U.S. adults on whether billionaires are a good or bad thing 2021, by age
    • Premium Statistic Opinion of U.S. adults on whether billionaires should pay a wealth tax by party 2020

    Billionaires

    • Basic Statistic U.S. billionaires 1990-2023

      Topic: Millionaires in the U.S. (26)

      U.S. billionaires 1990-2023

      Number of billionaires in the United States from 1990 to 2023

    • Premium Statistic U.S. distribution of billionaires 2022, by gender

      Topic: Millionaires in the U.S. (27)

      U.S. distribution of billionaires 2022, by gender

      Distribution of billionaires in the United States in 2022, by gender

    • Premium Statistic States with the most billionaires in the U.S. 2024

      Topic: Millionaires in the U.S. (28)

      States with the most billionaires in the U.S. 2024

      States with the largest population of billionaires in the United States in 2024

    • Premium Statistic U.S. combined value of billionaire wealth 2020-2022

      Topic: Millionaires in the U.S. (29)

      U.S. combined value of billionaire wealth 2020-2022

      Combined value of billionaire wealth in the United States from March 2020 to November 2022 (in trillion U.S. dollars)

    • Premium Statistic U.S. opinions of billionaires 2022

      Topic: Millionaires in the U.S. (30)

      U.S. opinions of billionaires 2022

      Americans opinions on billionaires in the United States in 2022

    • Basic Statistic U.S. adults on whether billionaires are a good or bad thing 2021, by age

      Topic: Millionaires in the U.S. (31)

      U.S. adults on whether billionaires are a good or bad thing 2021, by age

      Opinion of adults in the United States on whether the existence of billionaires is a good or bad thing in 2021, by age

    • Premium Statistic Opinion of U.S. adults on whether billionaires should pay a wealth tax by party 2020

      Topic: Millionaires in the U.S. (32)

      Opinion of U.S. adults on whether billionaires should pay a wealth tax by party 2020

      Opinion of adults in the United States on whether billionaires should pay a wealth tax to reduce inequality in 2020, by political party

    Around the world

    8
    • Basic Statistic Leading billionaires worldwide 2024
    • Premium Statistic Ultra high net worth individuals 2022, by country
    • Premium Statistic Share of the world's billionaires by region 2022
    • Premium Statistic Global fastest growing markets for centi-millionaires 2022-2032
    • Premium Statistic Cities with the highest number of UHNW individuals worldwide 2022
    • Basic Statistic Most affluent women worldwide 2024, by net worth
    • Basic Statistic Youngest billionaires globally 2023, by net worth
    • Premium Statistic Value added to the wealth of the world's leading billionaires during pandemic 2021

    Around the world

    • Basic Statistic Leading billionaires worldwide 2024

      Topic: Millionaires in the U.S. (33)

      Leading billionaires worldwide 2024

      The world's leading billionaires as of July 2024, based on net worth (in billion U.S. dollars)

    • Premium Statistic Ultra high net worth individuals 2022, by country

      Topic: Millionaires in the U.S. (34)

      Ultra high net worth individuals 2022, by country

      Number of ultra high net worth individuals in selected countries in 2022

    • Premium Statistic Share of the world's billionaires by region 2022

      Topic: Millionaires in the U.S. (35)

      Share of the world's billionaires by region 2022

      Share of the world's billionaires in 2022, by region

    • Premium Statistic Global fastest growing markets for centi-millionaires 2022-2032

      Topic: Millionaires in the U.S. (36)

      Global fastest growing markets for centi-millionaires 2022-2032

      Fastest growing markets for centi-millionaires worldwide between 2022 and 2032

    • Premium Statistic Cities with the highest number of UHNW individuals worldwide 2022

      Topic: Millionaires in the U.S. (37)

      Cities with the highest number of UHNW individuals worldwide 2022

      Cities with the highest number of ultra high net worth (UHNW) individuals in the world in 2022

    • Basic Statistic Most affluent women worldwide 2024, by net worth

      Topic: Millionaires in the U.S. (38)

      Most affluent women worldwide 2024, by net worth

      Wealthiest women worldwide as of June 2024, by net worth (in billion U.S. dollars)

    • Basic Statistic Youngest billionaires globally 2023, by net worth

      Topic: Millionaires in the U.S. (39)

      Youngest billionaires globally 2023, by net worth

      Youngest billionaires in the world as of April 2023, based on net worth (in billion U.S. dollars)

    • Premium Statistic Value added to the wealth of the world's leading billionaires during pandemic 2021

      Topic: Millionaires in the U.S. (40)

      Value added to the wealth of the world's leading billionaires during pandemic 2021

      Value added to the net worth of the world's leading billionaires during the COVID-19 pandemic from September 2019 to September 2022 (in billion U.S. dollars)

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    Topic: Millionaires in the U.S. (2024)

    FAQs

    What makes the most millionaires in the US? ›

    The majority of the millionaires in the study said they earned their money through long-term investing.

    Read On
    What is considered a millionaire in the US? ›

    When what you own (your assets) minus what you owe (your liabilities) equals more than a million dollars, you're a millionaire.

    Discover More Details
    How many millionaires do we have in the United States? ›

    Countries by number and percentage of millionaires
    Country or subnational areaNumber of millionairesPercentage of millionaires (% of adult population)
    United States *24,480,0009.2
    China *6,190,0000.6
    Japan *3,366,0003.2
    United Kingdom *2,849,0005.4
    44 more rows

    Continue Reading
    What do 90% of millionaires do? ›

    90% of millionaires made their money in Real Estate. I became a millionaire without owning a single property. But I own 6 small businesses that make me $725k/year.

    See Details
    What 5 jobs create the most millionaires? ›

    By those standards, the five jobs with the most millionaires are engineer, accountant, teacher, people in management, and lawyer.

    Find Out More
    Where do most millionaires in the US live? ›

    About 5.5 million millionaires live in the US, a wealth report by Henley & Partners said. Unsurprisingly, New York City has the most millionaires. It's followed by the Bay Area and LA. But a "millionaire remix" means more wealthy people are heading to Austin and West Palm Beach.

    Tell Me More
    What age group are millionaires in us? ›

    Age distribution for everyone vs. millionaires in 2022
    • 20-29. 0.6% 10.3%
    • 30-39. 5.1% 17.5%
    • 40-49. 14.0% 16.4%
    • 50-59. 24.3% 17.7%
    • 60-69. 28.1% 18.4%
    • 70-79. 19.7% 13.0%
    • 80-89. 7.2% 5.6%
    • 90+ 1.0% 0.8%
    Jun 15, 2024

    Show Me More
    How to tell if someone is a millionaire? ›

    Here are eight subtle ways you can tell that someone is a millionaire.
    1. They Value Their Time. ...
    2. They Don't Talk About Money. ...
    3. Their Things Are Customized. ...
    4. They Own Multiple Properties. ...
    5. They Have an Expensive Hobby. ...
    6. They Are Well-Traveled. ...
    7. They Can Speak Multiple Languages. ...
    8. The Keep a Close Circle.
    Aug 11, 2023

    Explore More
    What do most Americans consider rich? ›

    Americans believe it now takes an average net worth of $2.5 million to be counted as rich, a 14% increase from last year's $2.2 million, according to a new survey from Charles Schwab.

    Continue Reading
    What is the average age of a millionaire? ›

    The average millionaire in the United States is actually 61 years old. Back in 1992, the average millionaire was 57, according to Business Insider.

    Show Me More

    Which state has the most millionaires? ›

    California

    Read The Full Story
    What is the average income of a millionaire? ›

    % of Millionaire Households

    As you can see, it's far more likely for a household with someone in their 50s or older to have a net worth exceeding $1 million versus households in their 20s and 30s. The median income for millionaire households is $215,000.

    See Details
    What are the 3 things millionaires do not do? ›

    The 10 things that millionaires typically avoid spending their money on include credit card debt, lottery tickets, expensive cars, impulse purchases, late fees, designer clothes, groceries and household items, luxury housing, entertainment and leisure, and low-interest savings accounts.

    Get More Info Here
    What is the average IQ of millionaires? ›

    The average IQ of self-made deca-millionaires (over $10M net worth) is 118. The average IQ of self-made* billionaires is 133. The average IQ of self-made deca-billionaires (over $10B net worth) is 151. Of note, average incomes correlate well with IQ, however there is a much lower correlation between IQ and net wealth.

    Continue Reading
    How do most millionaires go broke? ›

    If a millionaire doesn't budget properly and starts spending on personal chefs, expensive cars, and other luxury amenities, they may quickly run out of money. Sometimes millionaires, especially new millionaires, feel they have so much money that they lose perspective on what they can afford.

    View More
    What is most millionaires source of income? ›

    Common income streams among millionaires include:
    • Business Ventures: Ownership or investment in businesses.
    • Investments: Stocks, bonds, real estate, or mutual funds.
    • Real Estate: Rental properties or real estate development.
    • Intellectual Property: Royalties from books, patents, or media.
    More items...

    View Details
    What industry makes the most millionaires in America? ›

    1. Financial Services. The financial service industry has created the most number of millionaires since modern times, according to the Wealth Report. In the business of money, people make a lot of money.

    See More
    Which major produces the most millionaires? ›

    Top 7 degrees that make the most millionaires
    • Engineering.
    • Economics/Finance.
    • Politics.
    • Mathematics.
    • Computer Science.
    • Law.
    • MBA.
    Sep 9, 2024

    Learn More
    What field do most millionaires come from? ›

    Occupations that often produce many millionaires include entrepreneurship, finance and investment banking, technology, medicine, real estate, law, consulting, entertainment, sports, and high-level sales and marketing.

    Discover More Details
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