In 2020, California had the highest number of millionaire households in the U.S., with 1.14 million households having one million or more in investible assets. This is nearly double the 650,216 millionaire households in Texas, the state with the second-highest number.

New Jersey has the highest rate of millionaires, with 9.76% of households showing a net worth of $1 million or above. That means that 246,058 New Jersey households are millionaires.

As of 2020, New Jersey had the highest share of households with a net worth of one million or more U.S. dollars in the United States, followed by Maryland, Connecticut, Massachusetts, and Hawaii.

This statistic presents the American states with lowest ratio of millionaire households per capita in 2019. In 2019, Mississippi had the lowest ratio of millionaire households per capita in the country, with only 4.18 percent of households holding over one million U.S. dollars in assets.

Data from the Credit Suisse Global Wealth Report shows that in 2023 there were just under 30 million millionaires in the US.

As of 2020, New Jersey had the highest concentration of millionaire households in the U.S., with 9.76 percent of all households having one million or more in investible assets. Mississippi had the lowest concentration, with 4.18 percent of households being millionaires.

This statistic shows the number of millionaire households in the United States from 2006 to 2020. As 2020, the number households with a net worth of one million U.S. dollars or more (excluding primary residence) stood at 11.6 million, up from 11 million in 2019.

The statistic shows the number of millionaire households in the United States from 1997 to 2015, by net worth. In 1997, about 5.3 million households had a net worth of 1 million U.S. dollars or more, excluding primary residence.

In 2023, there were nearly 22 million people with a net worth of over one million U.S. dollars in the United States, which put the country on the top of the ranking. China was ranked second in that year, with more than six million individuals with wealth exceeding one million U.S. dollars. The United Kingdom followed in third with around three million millionaires.

As of March 2024, California was the U.S. state with most billionaires, with 197 billionaires calling the state home. New York was second, with 139 resident billionaires.

In 2016, around 15.2 percent of all White families in the United States had a net worth of one million U.S. dollars or more. This compares to only 1.9 percent of Black families.

In 2020, the San Jose-Sunnyvale-Santa Clara metropolitan area in California had the highest share of millionaire households of any U.S. metropolitan area, with 13.6 percent of all households having at least one million U.S. dollars in investible assets.

As of November 2022, a combined value of 4.48 trillion U.S. dollars was held by billionaires living in the United States. While U.S. billionaire wealth has seen a drop over the last year, it is still more than 1.5 times the amount it was at the start of the COVID-19 pandemic.

Iceland was the country with the highest rate of millionaires worldwide in 2022, with more than 20 percent of the adult population owning assets worth more than one million U.S. dollars. Luxembourg followed behind with 16 percent of the population being millionaires, with Switzerland in third.

As of 2019, 84 percent of millionaires in the United States had a net worth of between one million and two and a half million U.S. dollars. On the other end of the scale, 0.01 percent of millionaires had a net worth of over 500 million U.S. dollars.

This statistic shows the number of the super-rich, or Ultra-High-Net-Worth, persons in the United States in 2014, sorted by state. California has the largest concentration of super-rich individials; about 13,445 UHNW people are living in the state.

In 2022, Mumbai was home to the highest number of millionaires, followed by India’s capital New Delhi, and the IT capital - Bengaluru. This comes as no surprise since all three cities have the largest share of high net worth households along with a booming economic outlook. Overall, India had around 187 billionaires as of March 2023, and ranked third globally in terms of its ultra-net-worth individuals.

A growing wealth gap

Despite this, India also has a very high wealth inequality with millions of people living below the poverty line. In fact, according to the last census, the state of Maharashtra (with Mumbai as its capital city) had the highest number of slums across the country with over 2.5 million households. Furthermore, according to a 2015 study on the geography of the super-rich, Bangalore was ranked first in terms of the inequality between its rich and poor, with the wealth of the city’s billionaires being 646,407 times that of the average per capita GDP in the city. Mumbai came second in this listing, while Delhi was ranked fifth.

It's a rich man's world

As of 2018, the richest 10 percent of Indians owned 77.4 percent of the country’s wealth. The Indian economy was also seen to be one of the fastest growing economies across the world. This indicates the level of unequal distribution of wealth in the country. This is a matter of grave concern and has several implications in terms of the country’s development and progress.

The statistic shows the distribution of U.S. millionaires in 2013, by race and ethnicity. As of 2013, about 76 percent of U.S. millionaires were White/Caucasian.

Additional information on racial income inequality

The issue of racial inequality in regards to income and wealth has been a problem through the entirety of the history of the United States. The statistic above demonstrates how the percentage of millionaires that identify as Black/African Americans is disproportionate to the share of the population overall. While the disproportionate number of millionaires demonstrates an undesirable degree of income inequality it is at the bottom of the wealth ladder within American society that the issue is most pressing. The overrepresentation of African Americans in contrast to the population in unemployment statistics are cause for concern on the part of the government and society as a whole. In 2014, nearly 25 percent of surveyed families who placed themselves in the income bracket of under ten thousand dollars identified as black.

The percentage of non-white female business owners perhaps demonstrates that barriers to wealth exist but are diminished in unison. As barriers to wealth generation are removed for women, similar barriers are also being broken to allow for greater equality in the economic opportunities offered across the population of the United States. A central issue for policy makers is the time delay associated with policies aimed at reversing these inequalities. This was reflected in the 2015 Democratic and Republican presidential primary campaigns. Despite many major candidates discussing the issue none put forward meaningful proposals to address the problem. Even Senator Bernie Sanders who made addressing income inequality the cornerstone failed to separate the issue from income inequality generally. However, the global attention gained by movements such as ‘Black Lives Matter’ shows issues of racial inequality are prominent in the discourse of sections of the wider population if not forming a cornerstone of the political discourse in the United States.

This statistic presents the distribution of assets of the millionaire investors in the United States in 2014. In that year, 16 percent of the financial assets of the U.S. millionaire investors was held in their principal residences.

As of June 2024, Elon Musk was estimated as the wealthiest person in the United States with a net worth of around 195 billion dollars. Richest people in the United States - additional information Every year since 1982, the American business magazine Forbes has been compiling lists of the 400 richest people in the United States, known as the “Forbes 400.” In addition to that, since 1987, the publication has also been compiling a ranking of the 500 richest people in the world (excluding royalty and dictators), as well as more specialized tops, such as “World's Most Powerful Women,” “America's Richest Families,” “Most Valuable Brands” or “30 Under 30,” which focuses on young entrepreneurs from various fields which have gained millions in the past year by the use of social media, technical innovations and generally new and fresh approaches to business.