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How Many Millionaires In The World Percentage

How Many Millionaires In The World Percentage? – One easy way to find out how many millionaires there are in the world: just divide the total wealth on this planet by the population and you get your answer.

Suppose you are thinking about buying an asset that cost $1 then you need to find out how many millionaires there are in the world percentage. Here is the answer to this question.

The global number of millionaires reached 56.1 million in 2021.

(Credit Suisse)

There are currently 56.08 thousand adult millionaires in the world, with a total net worth of $191.6 trillion. They make for 1.1% of the population.

The top three countries that have the most millionaires are the US (39.1%), China (9.4%), and Japan (6.6%).

(Credit Suisse)

These three countries have the highest number of millionaires on a global scale. In fourth place, there is Germany (5.3%), and the UK shares fifth place with France, as they each house 4.4% of the world’s millionaires.

72.5% of all millionaires are self-made.

(Statista) 

Allegedly, only a small percentage of today’s millionaires inherited all their wealth – approximately 7.4%. Another 20.1% admitted the source of their wealth is a combination of inheritance and personal earnings, while the vast majority claim to have earned their wealth through income from work, real estate, investment, or by selling their business.

Brazil, India, and Russia had the biggest reduction in the number of millionaires in 2020.

(Credit Suisse)

These three countries lost the most millionaires in the world between 2019 and 2020. In addition, despite being second-best in terms of raw numbers, China has just one millionaire per 200 people, due to its high population density. The highest percentage of millionaires is in Switzerland (14.9%).

84% of millionaires have a college degree.

(Spectrem Group)

In terms of becoming a millionaire, having a college degree certainly pays off. However, pursuing further academic success doesn’t seem as prevalent: Only 30% of millionaires also have master’s degrees or PhDs.

Between 2020 and 2025, global wealth is projected to rise by 39%.

(Credit Suisse)

The percentage of millionaires in the world will also likely grow over the next five years, reaching 84 million people. Wealth per adult is also, in the same notion, projected to increase by 31%.

By 2025, the percentage of millionaires in China is expected to increase by 92.7%.

(Credit Suisse)

China is projected to have the highest growth in millionaire numbers in the next five years. Denmark is next in line for the highest projected growth, expected to rise by 82.4%. India is in third place in this category, with a projected rise of 81.8% by 2025.

The average age to make your first million is 50. It typically takes 32 years to get rich.

(Business Insider)

General wealth trends show that it took 38 years for more than 50% of millionaires to join this category. Only 4% of so-called self-made millionaires made this happen in less than 27 years. This means you can hardly expect to become a millionaire while you’re in your forties – 80% of millionaires didn’t become extremely wealthy before they turned 50.

5.2 million new millionaires appeared worldwide in 2020

(Credit Suisse)

The COVID-19 pandemic may have left millions of people jobless, but it made more millionaires, too. More than 1% of all adults worldwide became millionaires for the first time.

In 2019, 76% of all millionaires were married.

(Coldwell Banker Luxury)

While more than three-quarters of the top 1% are married, this ratio is lower for their younger subset. However, Millennials still fit the other markers of wealth pretty well: Just like most other millionaires, they typically have only one child, and the vast majority (80%) have single-family homes. Also, 93% of all millennial millionaires have an average net worth between $1 and $2.49 million, and they donate to charity more than millionaires of other ages.

What Percentage of Americans are Millionaires?

Let’s start with the basics. The number of millionaires, their households, and how they got their wealth.

1. How many millionaires are in the US in 2020?

(Source: Credit-Suisse)

The Global Wealth Report says that the total number of millionaires in the US is 20.27 million. The United States also added 2,251,000 new millionaires from 2019 to 2020 alone, which puts it at the very top of the list of countries with the most millionaires.

Since the adult US population is around 250 million, that means that just over 8% of Americans are millionaires.

2. How many US millionaire households are there?

(Source: Spectrem)

A new survey has found that there are 13.61 million households that have a net worth of $1 million or more, not including the value of their primary residence. That’s more than 10% of households in the US.

So the US is definitely the country with the most millionaires.

3. What percentage of millionaires inherited their wealth?

(Source: Ramsey Solutions)

Only about 20% of Americans inherit their riches.

The rest of them (80%) are self-made, first-generation millionaires. Most millionaires have to work for the money and don’t get rich once a relative dies, according to “The Millionaire Next Door: The Surprising Secrets of America’s Wealthy” by Thomas J Stanley.

Gatsby would be proud.

Multimillionaires in the United States

Of course, millionaires are only one part of the equation. Many people have more than a single million, and some have much, much more.

4. How many people are worth 10 million?

(Source: DQYDJ)

Have you ever wondered how many decamillionaires are in the US?

Well, we did.

And we found out that there are an estimated 1,456,336 households with a net worth of at least $10 million.

It is important to note that we are talking about a household, not an individual. So there may be more than one person earning in a single household.

5. How many multi-millionaires are in the US?

(Source: DQYDJ)

About 8,046,080 US households have a net worth of $2 million or more, covering about 6.25% of American households.  5,671,005 US households have a net worth of $3 million or more, covering about 4.41% of all US households.

6. How many multi-millionaires in the US have $50 million net assets?

(Source: Credit-Suisse)

There are a total of 89,510 people in the United States with net assets of at least $50 million. This number equals 50.9% of the ultra-high net worth (UHNW) individuals over the world.

Obviously, there’s a huge wealth disparity.

7. How many billionaires in the US are there?

(Source: Wealth-X)

According to a census report in 2020, there are 788 billionaires in the United States with a combined net worth of $3.431 trillion. In contrast, the United States had 404 billionaires in 2010.

8. How many millionaires are in Congress?

(Source: Center for Responsive Politics)

There are 229 millionaires in Congress. The exact number is hard to determine since Congress members reveal their finances in ranges. But according to the Center for Responsive Politics, 43% of congress members had a net worth of over $1 million in 2018.  That’s 43%, over seven times the national rate of 6%.

US Millionaire Demographics, 2021

Who are these millionaires, though? Let’s check the US millionaire distribution by age and race.

9. What is the average age of US millionaires?

(Source: Spectrem)

According to a report about the US millionaire population by age, the average age of US millionaires is 62 years old. About 38% of US millionaires are over 65 years of age. Only 1% are below 35. Millionaires on the West Coast are slightly older, as well.

So don’t worry. You most probably still have time to become rich.

10. What is the percentage of millionaires in America by race?

(Source: Statista)

According to the most recent data available, 76% of US millionaires were white or Caucasian. Black American and Asian millionaires each accounted for just 8%. Hispanics made up 7% of the total millionaire population.

11. What is the average age of US billionaires?

(Source: Wealth-X)

The average age of billionaires is slightly higher than that of millionaires at 65.9 years old. According to a 2016 report, only 46 people became billionaires before the age of 40. This further reaffirms that billionaires are not made overnight but are built through experience and time.

12. What is the average millennial millionaire’s net worth?

(Source: Coldwell Banker)

There are 618,000 millennial millionaires in the United States, and 93% of them have a net worth ranging from $1 to $2.49 million.

The boomers’ generation was the richest generation in the history of the United States. They are leaving huge piles of wealth to their Gen X and millennial descendants. However, many of these millennials are earning good money all by themselves as well.

Odds are you know at least one millionaire.

More than 8% of adults in the U.S. have enough assets to fit the definition, according to the Global Wealth Report 2020 by Credit Suisse. That works out to more than 20 million Americans.

Chris Hogan, radio host and author of the book “Everyday Millionaires,” surveyed more than 10,000 of those wealthy individuals to figure out their secret to success.

Hogan quickly learned that most millionaires aren’t the jet-setters you see on television.

“These are regular, hardworking, everyday people. They’re not flashy,” he said. Most of them accumulated their wealth over time by making wise decisions, according to Hogan.

And having a particular mindset almost universally contributed to their success, Hogan said. He found that around 97% of millionaires surveyed believed they were in control of their own destiny.

That is much higher than the 55% of the general population Hogan found to hold the same opinion.

Conclusion

the number of millionaires in the world is constantly changing. at the end of 2017, there are 37 million millionaires in the world, which represents an increase of 1.1 percent year-over-year according to Credit Suisse’s annual global wealth report . they expect approximately 43 million millionaires by 2022.

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