The number of US millionaires is surging. Here are 7 countries with the most millionaires (2024)

FAQs

The number of US millionaires is surging. Here are 7 countries with the most millionaires? ›

Globally, the population of those with more than a million in assets grew by about 8%. Along with the U.S., Japan, Germany, China, France, the United Kingdom, and Switzerland, respectively, rounded out the top seven countries with the highest HNW populations.

According to statistics, Switzerland has the highest proportion of millionaires as of 2021, closely followed by Luxembourg.

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.

How many millionaires are there in the U.S.? There are 21,951,000 millionaires in the U.S. This is 39.1% of the world's 56.1 million total millionaires.

Ninety percent of all millionaires become so through owning real estate.

China is followed by India and the U.K. Australia leads net inflows with 5,200, followed by the U.A.E. and Singapore. One of the most surprising things from the latest report, Volek says, is that the U.K. now sits at No. 3 for net outflows of millionaires, following the ripple effects from Brexit.

A new report found that New York City is the no. 1 place for ultra-high-net-worth individuals to own a property. New York City isn't just the city that never sleeps. It's also the most popular place in the country for the 'super-rich.

Austin is the fastest-growing city for millionaires, according to the 2023 Wealth Report by Henley & Partners. Between 2012 and 2022, the number of millionaires calling Austin home more than doubled to 30,500. A 'millionaire growth rate' of 102% puts Austin at the top of the list.

What race has the most millionaires in America? ›

The Breakdown You Need To Know:

Specifically, Black people represent 8% of total millionaires in the U.S., 76% are white, 8% are Asian, and the Hispanic community captures 7% of the total millionaire population across the country.

Possessing a net worth—the value of all of your holdings minus your liabilities—of $1 million will not automatically place you in the gilded top 1%. To enter this high-end club, you must have a minimum net worth of around $11.1 million. Millionaires comprise about 8.8% of the American population.

This is according to a study conducted by Ramsey Solutions, which is the largest study of millionaires to date. The average age of a millionaire is 49 years old, which means it takes them over 27 years of saving and investing to reach this status. This may seem daunting, but the truth is, it's never too late to start.

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.

1. California

All data was scored and the scores were combined to give a total score that ranked each states showing the Richest States in America. All data is up-to-date as-of June 6th, 2023.

“90% of all millionaires become so through owning real estate.” This famous quote from Andrew Carnegie, one of the wealthiest entrepreneurs of all time, is just as relevant today as it was more than a century ago.

Real estate investing has played a role in helping to create 90% of the world's millionaires. Real estate is one of the most effective wealth building vehicles and is an important component of a well-diversified portfolio.