How Many People Have a Net Worth of $20 Million in the USA?
As of the last update in August 2023, the number of individuals with a net worth of 20 million or more in the United States is surprisingly fewer than one might imagine. Wealth reports from reputable sources, such as those from Credit Suisse and Wealth-X, provide valuable insights into the population of ultra-high-net-worth individuals (UHNWIs) in the country. According to these reports, tens of thousands of individuals possess a net worth of 20 million or more.
Estimates from Wealth Reports
For instance, Wealth-X reported that the number of individuals with a net worth of 30 million or more was around 200,000 in the U.S. in recent years. While the exact number of individuals with a precise net worth of 20 million may not be explicitly specified, it is reasonable to infer that it would constitute a significant portion of the 30 million or more group. For the most accurate and up-to-date figures, consulting the latest reports from wealth analysis firms or financial institutions is advisable.
Understanding the Wealth Distribution in the USA
It is important to note that the number of individuals with a net worth of 20 million is significantly smaller when compared to those with wealth between 10 and 20 million. As of the data from DQYDJ, only approximately 0.6% of the American population, or about 1.8 million people, have a net worth of 20 million or more. These numbers reflect the highly skewed nature of wealth distribution in the United States.
Data from Different Sources
The difference in the numbers could be attributed to variations in the data sources and methodologies used by researchers. For example, in 2012, approximately 66,000 individuals had net assets above 20 million. It is expected that this number has increased since then, reflecting changes in the economy and wealth distribution.
On a global scale, according to data prepared for the 2016 report by wealth intelligence company New World Wealth, there were 187,500 UHNWIs with 30 million or more in net assets, excluding their principal residence, around the world. This broader perspective provides a benchmark for understanding the relative size of this wealthy segment in the U.S. market.
Closing Thoughts
The wealth distribution in the United States is highly concentrated, with a small percentage of the population holding a significant portion of the wealth. For those interested in increasing their net worth, there are resources available to help develop strategies and provide guidance. If you are looking to learn more about how to generate more income, consider reaching out to financial experts for tailored advice and case studies.