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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 data analysis and wealth distribution, I can confidently dissect the information provided in the article about the number of millionaires in the United States. My expertise lies in understanding the intricacies of net worth calculations, wealth percentiles, and the broader landscape of financial well-being.
The data presented in the article is sourced from the 2019 Federal Reserve SCF (Survey of Consumer Finances), a reputable and comprehensive survey that captures the financial landscape of households in the United States. The figures are a result of meticulous analysis and calculation, considering various factors such as net worth, home equity, and specific wealth thresholds.
Let's break down the key concepts discussed 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 includes households with a net worth surpassing one million dollars. It's important to note that this calculation incorporates the value of the primary residence.
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Multimillionaires with $2 Million or More:
- The analysis extends to households with a net worth of $2 million or more, revealing an estimated 8,046,080 such households, making up roughly 6.25% of all U.S. households.
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Wealth Tiers Beyond $2 Million:
- The article provides a tiered breakdown, including households with $3 million, $4 million, and $5 million or more in wealth. These tiers represent 4.41%, 3.48%, and 2.79% of all U.S. households, respectively.
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Decamillionaires (Those with $10 Million or More):
- Approximately 1,456,336 households in the United States have a net worth of $10 million or more, constituting 1.13% of American households.
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Extreme Wealth Levels:
- The article delves into the rarified air of extreme wealth, noting households with $50 million or more (around 97,287 households) and $100 million or more (approximately 34,507 households).
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Caution and Data Accuracy:
- The author advises caution regarding the precision of data at the highest wealth levels, acknowledging that these figures are somewhat speculative due to the limited availability of data in this range.
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Billionaires:
- The article humorously deflects the question of how many Americans are billionaires, suggesting referencing dedicated lists like Forbes Billionaires or Bloomberg Billionaires Index due to the rarity and individual trackability of billionaires.
In conclusion, the article provides a comprehensive overview of the distribution of wealth in the United States, leveraging data from a reliable source. The tiered breakdowns and cautionary notes reflect a nuanced understanding of the complexities involved in assessing wealth at different levels.
