We researched the internet and found some of the best Millionaire Statistics, facts & research you must see in 2024.
According to some research, 90% of millionaires achieve their wealth through investments in real estate.
Almost 62.5 million millionaires are there worldwide.
62% of millionaires are from state schools or public universities, and many more statistics.
So let’s see the stats!
Key Stats
Let’s go throught the best picked stats of Millionaires.
I researched this data from internet, case studies, reports and many more.
Let’s Get Started.
- 90% of millionaires achieve their wealth through investments in real estate.
- There are 62.5 million millionaires all over the world.
- In the U.S, 1700 people become millionaires every day.
- 76% US Millionaires are married
- 62% Millionaires are from state school or public university.
- 8/10 Millionaires comes from low class families.
- Average Age Of Millionaires is 57.
- 76% of US millionaires are white, while 8% are black.
- 72% thinks that “smart investing” is key to success.
Number Of Millionaires Stats
How Many Millionaires Are There In The World?
Currently, the number of Millionaires in the world is 62.5 Million. The largest number of Millionaires are in United States (30 Million).
A recent study concluded that the USA produces 1700 new millionaires every day. If we want to see how many new Millionaires every year in the country the number goes on to 1.7 Million.
Which State Has The Most Millionaires In the US?
New Jersey has the most Millionaires in the US, with over 9.76% of households being Millionaires. By number 246,058 households have at least 1 Million net worth in New Jersey.
| Rank | State | Percentage (%) |
|---|---|---|
| 1 | New Jersey | 9.76 |
| 2 | Maryland | 9.72 |
| 3 | Connecticut | 9.44 |
| 4 | Massachusetts | 9.38 |
| 5 | Hawaii | 9.2 |
Which City In The World Has the Most Millionaires?
New York City has the most Millionaires in the world 340,000 after this Tokyo ranks #2 of 290,300 and so on.
Here is a table you can refer to:
| Rank | City/Area | Country | HNWIs ($1M+) |
|---|---|---|---|
| 1 | New York City | 🇺🇸 USA | 340,000 |
| 2 | Tokyo | 🇯🇵 Japan | 290,300 |
| 3 | The Bay Area | 🇺🇸 USA | 285,000 |
| 4 | London | 🇬🇧 UK | 258,000 |
| 5 | Singapore | 🇸🇬 Singapore | 240,100 |
| 6 | Los Angeles | 🇺🇸 USA | 205,400 |
| 7 | Hong Kong | 🇭🇰 Hong Kong SAR | 129,500 |
| 8 | Beijing | 🇨🇳 China | 128,200 |
| 9 | Shanghai | 🇨🇳 China | 127,200 |
| 10 | Sydney | 🇦🇺 Australia | 126,900 |
Age Stats Of Millionaires
The average age of a millionaire is 57 years.
The world’s hundred richest humans earned their millionaire tag at the age of 37 (average)
23% of Americans whose net worth is more than a million dollars are aged over 50-59.
As of 2013, 19% of millionaires are millennials (age between 19-31)
40% of millionaires are younger than 40 years old.
76% of millionaires in the United States are married.
Gender Stats Of Millionaires
89.2% of Millionaires are Male in the world while females are only 10.8%.
70% of US Millionaires are male, while 30% are female.
82% of Males are self-made millionaires compared to women (51%)
28.6% woman inherited their wealth while 4.6% only man inherited their wealth.
Race & Ethnicity Stats Of Millionaires
76% Millionaires are white in the USA.
8% US Millionaires are black in US.
8% Millionaires are Asians in the USA.
6.8% Millionaires are Hispanic or Latino in US.
22.3% of Asian people with bachelor’s degrees becomes a millionaires.
21.5% of White people with bachelor’s degrees will become a millionaires.
6.5% of Black people with bachelor’s degrees will become a millionaires.
Education Stats Of Millionaires
88% of millionaires are college graduates.
12% have did high school diploma or are dropouts.
Which, 62% graduated from public schools or universities.
52% are studying for master’s degree or further.
Most Millionaires are Engineering Degree holders.
Career Stats Of Millionaires
5 Most common careers among Millionaires are Engineer, Accountant, Manager, Teacher, and Attorney.
| Career | Percentage Of Millionaires |
|---|---|
| Engineer | 15.0% |
| Management | 20.0% |
| Attorney | 10.0% |
| Teacher | 5.0% |
| Accountant | 8.0% |
| Other | 42.0% |
90% of millionaires achieve their wealth through investments in real estate.
Finance Industry has one of the most number of Millionaires.
USA Millionaires Statistics Infographic
Let us now summaries all the statistics in one Infographics of USA:
FAQ You May Ask Us
How many millionaires are there in the U.S.?
There are almost 30 Million Millionaires are there in the US. That is 53.48% of the total country’s population.
Is a millionaire in the top 1% of wealth in the U.S.?
No, A Millionaire can’t be in the top 1% of the list. To be the 1% you at least need to have a worth of 11 million dollars.
How old is the average millionaire?
The average age of Millionaires is 57 yrs. Now it is because you will need to work hard to achieve that much success. Also need to generate more than 3 sources to be millionaires.
Where do 90% of millionaires come from?
Most of the millionaires are made in by Real Estate. Yes, investing money in Real Estate investing is the best decision every investor concludes they made.
Conclusion
That’s it for my list of Millionaires statistics.
Now I am one who likes statistics and tried my best to put all internet stats together.
Now I want to hear your thoughts:
Which Millionaire’s stat from this list grabbed your attention?
Or maybe there’s a stat that you looked at three times (It may happen)
Now let me know that stat in a comment below.
References
- 2023 Global Wealth Report By Ramsey Solution
- 1700 People are becoming millionaire every day in US.2023 – Fortune
- American States with the Highest Ratio of Millionaire Households – Statista
