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

Research done by the Credit Suisse Research Institute states that the country with the highest number of millionaires is the U.S., with nearly 30 million millionaires and 17 million people with wealth up to $5 million! To put numbers in perspective, China, Japan, Germany, the U.K., and France, added together, have a total of 17 million millionaires!

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.

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.

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.

Introduction

Millionaire Statistics: A growing number of individuals are becoming millionaires across the globe due to economic growth, an increase in stock markets, and entrepreneurial ventures. Studies show that by the year 2024, the population of millionaires and born and bred individuals across the globe will still grow due to the growing concentration of wealth in certain areas and sectors.

An analysis of the statistics on millionaires paints a clear picture of how wealth is being shared among the general populace and the levels of economic oppression in existence, as well as financial matters in the international arena.

This piece demonstrates the situational picture of millionaire statistics in the world, their wealth, their geographical distribution, and projections of their population in the years to come.

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.

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.

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.

South Africa was home to the highest number of millionaires in Africa as of 2023. The country had 37,400 high net worth individuals (HNWIs), corresponding to roughly one-third of the total number of millionaires on the continent. Second, in rank, Egypt counted 15,600 HNWIs. According to the source, approximately 135,000 HNWIs lived in Africa, each with one million U.S. dollars or more net assets, excluding government funds. The wealth value refers to assets such as cash, properties, and business interests held by individuals living in a country with fewer liabilities. The rich in Africa Compared to 2020, the number of African millionaires increased by nearly nine percent. This means that 11,000 people joined the group of individuals with minimum net assets of one million U.S. dollars. The number of centi- and multimillionaires has increased as well. In 2022, the Nigerian Aliko Dangote held the title of the wealthiest person in Africa. Founder and chairman of Dangote Cement, the largest cement producer in the whole African continent, the billionaire also owns salt and sugar manufacturing companies. His net worth is estimated at nearly 15 billion U.S. dollars. Trillions of U.S. dollars in riches Total private wealth in Africa amounted to 2.1 trillion U.S. dollars in 2021, a slight increase from 2020. That year, the coronavirus (COVID-19) pandemic had led to job losses, drops in salaries, and the closure of many local businesses. Compared to other African countries, South Africa concentrated the largest private wealth. Egypt, Nigeria, Morocco, and Kenya completed the leading wealth markets. The five nations accounted for over 50 percent of Africa’s total wealth in 2021.

This article introduces an original dataset of formal political participation for over 2,000 individuals included in the Forbes Billionaires List. We find that billionaire politicians are a surprisingly common phenomenon: Over 11% of the world’s billionaires have held or sought political office. Even compared to other elite groups known for producing politicians from their ranks, this is a high rate of political participation. Moreover, billionaires focus their political ambitions on influential positions, have a strong track record of winning elections, and lean to the right ideologically. We also document substantial cross-national variation: A country’s number of billionaire politicians is not simply a product of its total number of billionaires but is instead related to regime type. Indeed, billionaires formally enter the political sphere at a much higher rate in autocracies than in democracies. We conclude by discussing the normative implications of our findings and outlining a new research agenda on billionaire politicians.

Historical price and volatility data for Taiwan New Dollar in Millionaire Maker across different time periods.

Historical price and volatility data for Millionaire Maker in Russian Rubles across different time periods.

Historical price and volatility data for BOOK OF BILLIONAIRES in US Dollar across different time periods.

Historical price and volatility data for Euro in Millionaire Maker across different time periods.

Historical price and volatility data for Millionaire Maker in Euro across different time periods.

In 2023, there were approximately six million millionaires in China. The number of millionaires in China was projected to increase to about 6.5 million by 2028, indicating a growth by around eight percent.

Historical price and volatility data for Millionaire Maker in Polish Zloty across different time periods.

Historical price and volatility data for Millionaire Maker in UKrainian Hryvnia across different time periods.

The statistic shows the number of millionaires in mainland China from 2015 to 2024, as estimated by a research institute in China. According to the report, there were 4.14 million millionaires owning assets worth over six million yuan - roughly equivalent to one million U.S. dollars - and 1,68 million millionaires with personal wealth of over ten million yuan in mainland China in 2024.