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DATA: The Demographics Of US USD Millionaires - Politics - Nairaland

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DATA: The Demographics Of US USD Millionaires by NigerianAngelo(m): 8:17am On Oct 03, 2023

BUSINESS, NAIRA ECONOMIST | — The US has 22 million USD millionaires out of its 164 million workforce, or 1 in 8 adults of the working bracket. It accounts ratio of high worth individuals globally – over 40% of global share. According to Credit Suisse, there are about 59 million millionaires gobally as for 2023; 40% in the US, 6.2 million in China, 796,000 in the whole of India and 16 million in Europe. At a country ratio, millionaires form 13.4% of US work capable force. Who are these by estimate, and how exactly do they spread themselves?

Net worth: The average net worth of a millionaire in the US is $2.2 million, according to Charles Schwab’s 2022 Modern Wealth Survey.
Age: The median age of a US millionaire is 62, according to the Credit Suisse Global Wealth Report 2022.
Gender: 76% of US millionaires are men, while 24% are women.
Race/ethnicity: 76% of US millionaires are white, 8% are Asian, 8% are Black, and 7% are Hispanic or Latino.
Education: 88% of US millionaires have a college degree or higher.
Occupation: The most common occupations for US millionaires are business owners, executives, and professionals such as doctors and lawyers.
Location: The majority of US millionaires live in urban areas, with the highest concentrations in New York, Los Angeles, and Chicago.
Other notable demographics

Inheritance: About 20% of US millionaires inherited their wealth.
Self-made millionaires: The majority of US millionaires (80%) are self-made.
Women: Women are becoming millionaires at a faster rate than men.
Millennials: Millennials are the fastest-growing group of millionaires in the US.

MBAs: According to the US Federal Reserve Bank, about 19% of all US millionaires were holders of MBA degrees.

Source: https://nairaeconomist.com/2023/10/03/the-demographics-of-us-usd-millionaires/

Re: DATA: The Demographics Of US USD Millionaires by McCoy662(m): 8:47am On Oct 03, 2023
USA is a place to live abeg.
Good update.

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