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.

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.

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

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.

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.

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 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 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 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.

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.

Graph and download economic data for Net Worth Held by the Top 0.1% (99.9th to 100th Wealth Percentiles) (WFRBLTP1246) from Q3 1989 to Q4 2024 about net worth, wealth, percentile, Net, and USA.

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.

In the first quarter of 2024, almost two-thirds percent of the total wealth in the United States was owned by the top 10 percent of earners. In comparison, the lowest 50 percent of earners only owned 2.5 percent of the total wealth. Income inequality in the U.S. Despite the idea that the United States is a country where hard work and pulling yourself up by your bootstraps will inevitably lead to success, this is often not the case. In 2023, 7.4 percent of U.S. households had an annual income under 15,000 U.S. dollars. With such a small percentage of people in the United States owning such a vast majority of the country’s wealth, the gap between the rich and poor in America remains stark. The top one percent The United States follows closely behind China as the country with the most billionaires in the world. Elon Musk alone held around 219 billion U.S. dollars in 2022. Over the past 50 years, the CEO-to-worker compensation ratio has exploded, causing the gap between rich and poor to grow, with some economists theorizing that this gap is the largest it has been since right before the Great Depression.

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.

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.

In 2023, roughly 1.49 billion adults worldwide had a net worth of less than 10,000 U.S. dollars. By comparison, 58 million adults had a net worth of more than one million U.S. dollars in the same year. Wealth distribution The distribution of wealth is an indicator of economic inequality. The United Nations says that wealth includes the sum of natural, human, and physical assets. Wealth is not synonymous with income, however, because having a large income can be depleted if one has significant expenses. In 2023, nearly 1,700 billionaires had a total wealth between one to two billion U.S. dollars. Wealth worldwide China had the highest number of billionaires in 2023, with the United States following behind. That same year, New York had the most billionaires worldwide.

In 2023, 225,000 individuals with net assets of at least 30 million U.S. dollars were residing in the United States, by far the highest number of any country. By comparison, China, which had the second highest number of ultra high net worth individuals (UHNWIs), had less than 100,000 individuals with assets amounting to 30 million U.S. dollars or more.Place of residence of ultra high net worth individuals The residency of almost half of the world’s ultra high net worth individuals in the United States explains the dominance of North America in regard to the number of ultra high net worth individuals by region. Hong Kong was the city with the most UHNWIs in 2022, followed by New York, London, and Los Angeles. Source of wealth and gender differences A majority of the world's UHNWIs are self-made. However, looking at billionaires, there is a clear difference between men and women; whereas a majority of billionaire men were self-made, a majority of the women had inherited their fortune.

According to the Hurun Global Rich List 2024, China housed the highest number of billionaires worldwide in 2024. In detail, there were 814 billionaires living in China as of January that year. By comparison, 800 billionaires resided in the United States. India, the United Kingdom, and Germany were also the homes of a significant number of billionaires that year. United States lost its first place As the founder and exporter of consumer capitalism, it is no surprise that the United States is home to a large number of billionaires. However, the United States has lost their place as the country with the most billionaires in the world to China. This rise of billionaires in China has coincided with the liberalization of its economy and successive high growth rates. However, North America still leads the way in terms of the highest number of ultra high net worth individuals – those with a net worth of more than fifty million U.S. dollars. The prominence of Europe and North America is a reflection of the higher degree of economic development in those states. However, this may also change as China and other emerging economies continue developing. Female billionaires Moreover, the small proportion of female billionaires does little to counter critics claiming the global economy is dominated by an elite comprised mainly of men. On the list of the 20 richest people in the world, only one was a woman. Moreover, recent political discourse has put a great amount of attention on the wealth held by the super-rich with the wealth distribution of the global population being heavily unequal.

The world's richest people owned on average about four homes in 2023. Ultra High Net Worth Individuals (UHNWIs) owned the most homes in Africa - an average of 4.49 residential properties per person. In Asia, this figure was the lowest, at 3.02 -properties per person.

A multi-millionaire is defined as someone owning 10 million U.S. dollars or more. It was forecasted that there would be almost 18 thousand individuals in Australia defined as multi-millionaires by 2026. This is in line with the country’s growing economy over the years as well as the growing wealth inequality that was becoming a cause for concern in the island nation.

Distribution of the wealthy

As a rich country with plenty of natural resources and a high Human Development Index, Australia had always had a large number of high net-worth individuals or HNWIs. There were over ten thousand millionaires including a couple dozen of billionaires, with these figures expected to grow significantly over the next few years.

Income inequality

Despite the increase of wealth and economic growth, there was a concern at the level of poverty and homelessness due to the rising wealth inequality nationally. The number of homeless people living in Australia had only been increasing with more than a hundred thousand people currently without shelter. Furthermore, most of the wealth was being pushed from the country to the cities, affecting the livelihood of those living in the countryside or outback.