millionaire statistics

25 US Millionaire statistics: What percentage of Americans are millionaires

The financial security of a family is not just about how much money they have in their bank account. It’s also about how they feel about their economic status.

Others are struggling to get by, feeling like the world is against them and worrying about what will happen if something goes wrong.

What percentage of Americans are millionaires?

We have prepared a list of 25 millionaire statistics you need to know.

25 Millionaires Statistics

How many millionaires are there in the US?

According to the latest statistics, there are 22 million millionaires in the US, adding 2.2 million millionaires compared to last year.

It is expected that the number will reach 28 million by 2025 with a substantial growth of 28%. 

And the population of the US was 335 Million in the year 2020.

Concluded, 6.56% of Americans are millionaires while 8.8% of American adults hold more than $1 Million worth of net assets.

[Source: Credit-Suisse]

Which industry produces the most millionaires?

Finance, healthcare, and technology are the three major industries that produce 26% of total millionaires worldwide.

However recent trends give rise to a few new industries like the renewable energy sector creating many millionaires in the world.

How many US millionaire households are there?

According to a recent survey it was found that there are $13.61 Million households holding more than $1 million worth of net assets.

This means more than 10% of US millionaire households are there.

[Source: Spectrum]

How many black millionaires are in America?

According to Statista, there are 8% of millionaires are blacks (African-American) which amounts to 1.79 Millionaires.

[Source: Statista]

What is the percentage of millionaires in America by race?

According to Statista, 76% of millionaires are white, Black, and Asian each accounting for 8% of total millionaires, and the rest 7% of millionaires are Hispanics.

[Source: Statista]

What percentage of millionaires are self-made?

According to “The Millionaire Next Door”, 80% of millionaires are self-made and the rest 20% inherited their wealth from their parents or relatives.

Most millionaires are self-made.

How many people are worth 10 million?

Becoming a millionaire is tough – what is more tough is getting it to $10 Million.

It is estimated that there are 584K Millionaires with at least $10 Million worth of net assets. There are 1.4 Million households worth over $10 Million.

A person having a net worth of 10 million is also known as decamillionaire.

[Source: DQYDJ]

How many multi-millionaires are in the US?

According to a recent report by DQYDJ, 6.25% of American households are worth over $2 Million, and 4.41% are worth over $3 Million which amounts to 8.04 Million and 5.67 Million American households respectively.

[Source: DQYDJ]

Which state has the most millionaires?

According to Statista, California has 1.14 Million household millionaires and has the highest number of millionaires in the US.

Further, 44% of millennial millionaires live in California.

Texas has more than 650K millionaires being the second in the list of most millionaires in the US.

[Source: Statista]

How many people in the US have $50 Million in net assets?

In total there are 89,510 people in the United States with net assets valued over $50 Million and also known as UHNWI (Ultra high net-worth individuals).

It means the United States has 50.9% of the total UHNWI worldwide.

[Source: Credit-Suisse]

What is the average age of US millionaires?

According to a report by Spectrem, the average age of US millionaires is 62 years old. 38% of total US millionaires are aged over 65 years.

Just 1% of millionaires are under the age of 35.

[Source: Spectrum]

What is the net worth of an average millennial millionaire?

In the United States, there are 618K millennial millionaires and around 93% have net worth under $2.5 Million.

[Source: Coldwell Banker]

Where does millionaire invest their money?

Investing in real estate and the stock market are the two most preferred investment options for millionaires.

More than 90% of millionaires have investments in real estate or stock markets.

However, millionaires also prefer to keep 20% of their wealth in cash and cash equivalents.

You may look for a detailed guide on where millionaires invest their money on our website.

[Source: The only Investor]

How many properties an average American millionaire owns?

In US, 43% of millionaires owns a single house, 20% own two and around 8.5% of them own five or more.

While in case of millennial millionaires they own on an average three properties worth around $1.4 Million.

[Source: Statista]

How many people become millionaires in 2020 in the US?

In accordance with a report by Credit-Suisse, there were 2.25 Million people added up to the millionaire list from 2019 to mid-2020.

It is expected that trend will continue in the next five years as well.

[Source: Credit-Suisse]

Who is the youngest millionaire?

Ryan Kazi became the youngest millionaire at the age of 9 from his youtube channel “Ryan’s World” which has over 30 million subscribers.

It is estimated that he earns around $100 Million per year from Ad revenue and brand collaborations.

[The Only Investor]

Which state has the most millennial millionaires per capita?

As per recent statistics, 44% of millennial millionaires are situated in California. Even California also tops in the case of absolute numbers.

Which country has the most Millionaires?

Starting from the top US has the most number of millionaires. While China, Japan, Germany, and United Kingdom stand at 2nd, 3rd, 4th, and 5th respectively.

RankCountry Number of Millionaires
1United States21.95 Million
2China5.28 Million
3Japan3.66 Million
4Germany2.95 Million
5United Kingdom2.49 Million

Leave a Comment

Your email address will not be published. Required fields are marked *