GITNUXREPORT 2026

Millionaire Statistics

The United States leads the world with over 22 million millionaires, most of whom are self-made.

Min-ji Park

Research Analyst focused on sustainability and consumer trends.

First published: Feb 13, 2026

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Statistic 1

The average age of a millionaire in the US is 61 years old, according to a 2023 Ramsey Solutions study.

Statistic 2

79% of millionaires in the US did not receive any inheritance, per 2023 research.

Statistic 3

Only 31% of US millionaires averaged $100,000 a year over their career.

Statistic 4

93% of US millionaires used coupons when shopping, from a 2023 survey.

Statistic 5

75% of US millionaires have never carried a credit card balance.

Statistic 6

88% of US millionaires graduated from college, per 2023 data.

Statistic 7

Women make up 11.5% of global millionaires in 2023.

Statistic 8

65% of US millionaires are white, 10% Asian, per 2023 Census-linked study.

Statistic 9

The median age for self-made millionaires is 49 years old globally in 2023.

Statistic 10

62% of millionaires are married, compared to 48% of the general population.

Statistic 11

97% of US millionaires believe they control their own destiny.

Statistic 12

62% of US millionaires are men, 38% women in 2023.

Statistic 13

Black Americans comprise 8% of US millionaires per 2023 data.

Statistic 14

Hispanic millionaires make up 9% in the US.

Statistic 15

40% of millionaires have advanced degrees.

Statistic 16

Baby boomers hold 52% of US millionaire wealth.

Statistic 17

Gen X millionaires number 6.5 million in US.

Statistic 18

Millennial millionaires grew 20% to 618,000 in US 2023.

Statistic 19

55% of millionaires live in suburban areas.

Statistic 20

Tech industry employs 22% of new millionaires.

Statistic 21

Healthcare professionals are 12% of millionaires.

Statistic 22

Finance sector accounts for 18% of millionaire occupations.

Statistic 23

72% of millionaires avoid lifestyle inflation.

Statistic 24

Average US millionaire net worth is $2.6 million.

Statistic 25

85% of millionaires read 2+ books per month.

Statistic 26

Stocks represent 40% of the average US millionaire's portfolio in 2023.

Statistic 27

67% of millionaires prefer individual stocks over mutual funds.

Statistic 28

Real estate makes up 25% of millionaire portfolios on average.

Statistic 29

Bonds constitute 10% of holdings for most millionaires aged 50+.

Statistic 30

45% of millionaires allocate to alternative investments like private equity.

Statistic 31

Gold and precious metals are held by 22% of millionaires as hedges.

Statistic 32

Cryptocurrency is owned by 28% of millionaires under 40.

Statistic 33

ETFs form 35% of liquid investments for diversified millionaires.

Statistic 34

52% of millionaires rebalance portfolios annually.

Statistic 35

Venture capital investments average 5% of ultra-millionaire portfolios.

Statistic 36

Cash reserves average 5-7% of net worth for liquidity.

Statistic 37

ESG investments are prioritized by 41% of millennial millionaires.

Statistic 38

Hedge funds are in 15% of millionaire portfolios over $10M.

Statistic 39

Commodities exposure averages 3% for inflation protection.

Statistic 40

60% of millionaires use robo-advisors for small allocations.

Statistic 41

Fixed income yields targeted at 4-5% by conservative millionaires.

Statistic 42

Mutual funds average 12% of portfolios.

Statistic 43

International stocks 15% allocation standard.

Statistic 44

REITs held by 28% for real estate exposure.

Statistic 45

Options trading engaged by 18% cautiously.

Statistic 46

Farmland investments by 10% for diversification.

Statistic 47

Collectibles like wine average 2% portfolio.

Statistic 48

75% avoid market timing, stay invested.

Statistic 49

Target-date funds used by 22% for simplicity.

Statistic 50

Life insurance cash value tapped by 40%.

Statistic 51

55% consult fee-only advisors.

Statistic 52

Timberland forestry 4% for long-term growth.

Statistic 53

Peer-reviewed studies show 50% dollar-cost average.

Statistic 54

Preferred stocks 8% for income stability.

Statistic 55

As of 2023, the United States is home to 22.7 million millionaires, representing about 5.3% of its adult population.

Statistic 56

China had 6.2 million millionaires in 2023, a 4.2% increase from the previous year.

Statistic 57

The United Kingdom boasts 2.8 million millionaires as of mid-2023, accounting for 4.5% of adults.

Statistic 58

Japan has 3.1 million individuals with net worth over $1 million in 2023.

Statistic 59

Germany reported 2.9 million millionaires in 2023, up 3.8% year-over-year.

Statistic 60

Australia has 1.8 million millionaires, comprising 7.2% of its adult population in 2023.

Statistic 61

France counts 2.5 million millionaires in 2023, with significant growth in tech wealth.

Statistic 62

Canada has 2.0 million millionaires as of 2023, or 5.1% of adults.

Statistic 63

India saw its millionaire population rise to 850,000 in 2023, a 7.5% increase.

Statistic 64

Switzerland has 1.1 million millionaires, representing 14.5% of adults in 2023.

Statistic 65

Globally, there were 59.4 million millionaires in 2023, holding $142 trillion in wealth.

Statistic 66

South Korea had 907,000 millionaires in 2023, up 5.1% from 2022.

Statistic 67

Netherlands counts 1.0 million millionaires in 2023.

Statistic 68

Brazil has 295,000 millionaires as of 2023.

Statistic 69

Singapore has 299,000 millionaires, or 8.5% of adults in 2023.

Statistic 70

Italy reported 1.4 million millionaires in 2023.

Statistic 71

Spain has 928,000 millionaires in 2023.

Statistic 72

Taiwan counts 482,000 millionaires as of 2023.

Statistic 73

Sweden has 362,000 millionaires in 2023, 4.8% of adults.

Statistic 74

Mexico has 130,000 millionaires in 2023.

Statistic 75

As of 2023, there were 24.5 million adults in the US with $1M+ in investable assets.

Statistic 76

Russia had 112,000 millionaires in 2023 despite economic challenges.

Statistic 77

Hong Kong counts 148,000 millionaires, 15% growth since 2020.

Statistic 78

8.8% of adults in Monaco are millionaires in 2023.

Statistic 79

UAE has 128,000 millionaires, driven by expats.

Statistic 80

15.2 million US households have $1M+ net worth excluding primary residence.

Statistic 81

Saudi Arabia's millionaire count reached 90,000 in 2023.

Statistic 82

Norway has 230,000 millionaires, 5.3% of population.

Statistic 83

Turkey reports 48,000 millionaires in 2023.

Statistic 84

Ireland has 125,000 millionaires as of 2023.

Statistic 85

33% of millionaires donate to charity annually, averaging 4% of income.

Statistic 86

US millionaires give $500 billion yearly to philanthropy.

Statistic 87

70% of wealthy families have formal giving strategies.

Statistic 88

Luxury cars are owned by only 18% of millionaires.

Statistic 89

Millionaires spend 7% of income on travel and leisure.

Statistic 90

92% of millionaires drive American-made vehicles.

Statistic 91

Private jets are used by only 1% of millionaires regularly.

Statistic 92

Charitable giving rises 10% among millionaires post-50.

Statistic 93

Yacht ownership is under 0.5% among $1-10M net worth.

Statistic 94

55% of millionaires tithe 10% to religious causes.

Statistic 95

Art collections average $500K for top 10% millionaires.

Statistic 96

Millionaires allocate 3% of wealth to foundations over lifetime.

Statistic 97

Designer clothing purchases are rare; 94% shop sales.

Statistic 98

Second homes owned by 25% of millionaires.

Statistic 99

Global millionaire philanthropy totals $1.2 trillion annually.

Statistic 100

80% of millionaires never lease cars.

Statistic 101

Education donations from millionaires average $50K per family.

Statistic 102

Watches collection value exceeds $100K for 12% of millionaires.

Statistic 103

65% prioritize family trusts in estate planning for giving.

Statistic 104

Millionaires spend 2% on jewelry and luxury goods.

Statistic 105

25% of global philanthropy from millionaires supports education.

Statistic 106

Health causes receive 22% of millionaire donations.

Statistic 107

Environmental charities get 15% from new millionaires.

Statistic 108

88% of millionaires eat out less than once weekly.

Statistic 109

Boats owned by 3% of millionaires.

Statistic 110

42% volunteer 100+ hours yearly.

Statistic 111

Classic cars valued over $250K for 5%.

Statistic 112

70% plan bequests exceeding 20% of estate.

Statistic 113

Millionaires tip 20%+ consistently at services.

Statistic 114

Opera and arts events attended by 35% yearly.

Statistic 115

Self-made millionaires in the US have an average of 7 income streams.

Statistic 116

80% of millionaires invested in their company's 401(k) plan early and consistently.

Statistic 117

The average millionaire invests 20% of their household income annually.

Statistic 118

75% of millionaires report living on less than they make.

Statistic 119

Millionaires took an average of 27 years to reach $1 million net worth.

Statistic 120

94% of millionaires live in homes they bought, not inherited.

Statistic 121

The top 20% of earners save 38% of income to build wealth, per 2023 Fed data.

Statistic 122

Consistent investing in low-cost index funds yields millionaire status for average earners over 30 years.

Statistic 123

90% of millionaires attribute wealth to hard work, not luck.

Statistic 124

Real estate accounts for 20% of average millionaire's net worth.

Statistic 125

Millionaires' average savings rate is 15-20% of pre-tax income.

Statistic 126

Starting to invest at age 25 with $500/month at 7% return reaches $1M by 65.

Statistic 127

65% of millionaires own businesses, key to accumulation.

Statistic 128

Dividend investing contributes to 25% of long-term wealth growth for millionaires.

Statistic 129

Avoiding debt is cited by 86% of millionaires as crucial.

Statistic 130

70% of wealthy individuals own rental properties.

Statistic 131

79% of stocks owned by millionaires are held over 10 years.

Statistic 132

55% of US millionaires are entrepreneurs who started businesses.

Statistic 133

Most millionaires worked 50+ hours weekly early career.

Statistic 134

Side hustles contribute to 30% of millionaire income sources.

Statistic 135

50% of millionaires bought first home as investment.

Statistic 136

Compounding interest accounts for 70% of wealth growth post-40.

Statistic 137

82% of millionaires maintain emergency fund of 6 months expenses.

Statistic 138

Franchises owned by 8% of millionaires.

Statistic 139

Patent income streams for 5% of inventors who are millionaires.

Statistic 140

Roth IRA max contributions used by 60% consistently.

Statistic 141

Peer-to-peer lending yields 5-7% for 12% of investors.

Statistic 142

45% flipped houses for initial capital.

Statistic 143

Blogging or content creation monetized by 7%.

Statistic 144

68% negotiate salaries annually.

Statistic 145

Tax-advantaged municipal bonds held by 35%.

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Forget the yacht club stereotype; the path to joining the 22.7 million millionaires in the U.S. is paved not by luck, but by the surprising, everyday habits revealed in the latest data.

Key Takeaways

As of 2023, the United States is home to 22.7 million millionaires, representing about 5.3% of its adult population.
China had 6.2 million millionaires in 2023, a 4.2% increase from the previous year.
The United Kingdom boasts 2.8 million millionaires as of mid-2023, accounting for 4.5% of adults.
The average age of a millionaire in the US is 61 years old, according to a 2023 Ramsey Solutions study.
79% of millionaires in the US did not receive any inheritance, per 2023 research.
Only 31% of US millionaires averaged $100,000 a year over their career.
Self-made millionaires in the US have an average of 7 income streams.
80% of millionaires invested in their company's 401(k) plan early and consistently.
The average millionaire invests 20% of their household income annually.
Stocks represent 40% of the average US millionaire's portfolio in 2023.
67% of millionaires prefer individual stocks over mutual funds.
Real estate makes up 25% of millionaire portfolios on average.
33% of millionaires donate to charity annually, averaging 4% of income.
US millionaires give $500 billion yearly to philanthropy.
70% of wealthy families have formal giving strategies.

The United States leads the world with over 22 million millionaires, most of whom are self-made.

Demographics

The average age of a millionaire in the US is 61 years old, according to a 2023 Ramsey Solutions study.
79% of millionaires in the US did not receive any inheritance, per 2023 research.
Only 31% of US millionaires averaged $100,000 a year over their career.
93% of US millionaires used coupons when shopping, from a 2023 survey.
75% of US millionaires have never carried a credit card balance.
88% of US millionaires graduated from college, per 2023 data.
Women make up 11.5% of global millionaires in 2023.
65% of US millionaires are white, 10% Asian, per 2023 Census-linked study.
The median age for self-made millionaires is 49 years old globally in 2023.
62% of millionaires are married, compared to 48% of the general population.
97% of US millionaires believe they control their own destiny.
62% of US millionaires are men, 38% women in 2023.
Black Americans comprise 8% of US millionaires per 2023 data.
Hispanic millionaires make up 9% in the US.
40% of millionaires have advanced degrees.
Baby boomers hold 52% of US millionaire wealth.
Gen X millionaires number 6.5 million in US.
Millennial millionaires grew 20% to 618,000 in US 2023.
55% of millionaires live in suburban areas.
Tech industry employs 22% of new millionaires.
Healthcare professionals are 12% of millionaires.
Finance sector accounts for 18% of millionaire occupations.
72% of millionaires avoid lifestyle inflation.
Average US millionaire net worth is $2.6 million.
85% of millionaires read 2+ books per month.

Demographics Interpretation

Despite the common image of a carefree heir, the typical millionaire is more likely to be a frugal, educated, suburban bookworm who got rich slowly by keeping their credit cards paid off, their lifestyle in check, and their faith in self-determination high.

Investment Habits

Stocks represent 40% of the average US millionaire's portfolio in 2023.
67% of millionaires prefer individual stocks over mutual funds.
Real estate makes up 25% of millionaire portfolios on average.
Bonds constitute 10% of holdings for most millionaires aged 50+.
45% of millionaires allocate to alternative investments like private equity.
Gold and precious metals are held by 22% of millionaires as hedges.
Cryptocurrency is owned by 28% of millionaires under 40.
ETFs form 35% of liquid investments for diversified millionaires.
52% of millionaires rebalance portfolios annually.
Venture capital investments average 5% of ultra-millionaire portfolios.
Cash reserves average 5-7% of net worth for liquidity.
ESG investments are prioritized by 41% of millennial millionaires.
Hedge funds are in 15% of millionaire portfolios over $10M.
Commodities exposure averages 3% for inflation protection.
60% of millionaires use robo-advisors for small allocations.
Fixed income yields targeted at 4-5% by conservative millionaires.
Mutual funds average 12% of portfolios.
International stocks 15% allocation standard.
REITs held by 28% for real estate exposure.
Options trading engaged by 18% cautiously.
Farmland investments by 10% for diversification.
Collectibles like wine average 2% portfolio.
75% avoid market timing, stay invested.
Target-date funds used by 22% for simplicity.
Life insurance cash value tapped by 40%.
55% consult fee-only advisors.
Timberland forestry 4% for long-term growth.
Peer-reviewed studies show 50% dollar-cost average.
Preferred stocks 8% for income stability.

Investment Habits Interpretation

The modern millionaire's portfolio is a masterclass in calculated contradiction: fiercely independent in picking stocks while embracing robo-advisors, cautiously hedging with gold as the young diversify into crypto, all while the majority wisely ignore market noise and simply stay the course.

Number of Millionaires

As of 2023, the United States is home to 22.7 million millionaires, representing about 5.3% of its adult population.
China had 6.2 million millionaires in 2023, a 4.2% increase from the previous year.
The United Kingdom boasts 2.8 million millionaires as of mid-2023, accounting for 4.5% of adults.
Japan has 3.1 million individuals with net worth over $1 million in 2023.
Germany reported 2.9 million millionaires in 2023, up 3.8% year-over-year.
Australia has 1.8 million millionaires, comprising 7.2% of its adult population in 2023.
France counts 2.5 million millionaires in 2023, with significant growth in tech wealth.
Canada has 2.0 million millionaires as of 2023, or 5.1% of adults.
India saw its millionaire population rise to 850,000 in 2023, a 7.5% increase.
Switzerland has 1.1 million millionaires, representing 14.5% of adults in 2023.
Globally, there were 59.4 million millionaires in 2023, holding $142 trillion in wealth.
South Korea had 907,000 millionaires in 2023, up 5.1% from 2022.
Netherlands counts 1.0 million millionaires in 2023.
Brazil has 295,000 millionaires as of 2023.
Singapore has 299,000 millionaires, or 8.5% of adults in 2023.
Italy reported 1.4 million millionaires in 2023.
Spain has 928,000 millionaires in 2023.
Taiwan counts 482,000 millionaires as of 2023.
Sweden has 362,000 millionaires in 2023, 4.8% of adults.
Mexico has 130,000 millionaires in 2023.
As of 2023, there were 24.5 million adults in the US with $1M+ in investable assets.
Russia had 112,000 millionaires in 2023 despite economic challenges.
Hong Kong counts 148,000 millionaires, 15% growth since 2020.
8.8% of adults in Monaco are millionaires in 2023.
UAE has 128,000 millionaires, driven by expats.
15.2 million US households have $1M+ net worth excluding primary residence.
Saudi Arabia's millionaire count reached 90,000 in 2023.
Norway has 230,000 millionaires, 5.3% of population.
Turkey reports 48,000 millionaires in 2023.
Ireland has 125,000 millionaires as of 2023.

Number of Millionaires Interpretation

It seems the lofty title of 'millionaire' now ranges from being practically a local tradition in Switzerland to a sprouting, ambitious new crop in India, all while the U.S. casually stacks them by the tens of millions.

Philanthropy and Spending

33% of millionaires donate to charity annually, averaging 4% of income.
US millionaires give $500 billion yearly to philanthropy.
70% of wealthy families have formal giving strategies.
Luxury cars are owned by only 18% of millionaires.
Millionaires spend 7% of income on travel and leisure.
92% of millionaires drive American-made vehicles.
Private jets are used by only 1% of millionaires regularly.
Charitable giving rises 10% among millionaires post-50.
Yacht ownership is under 0.5% among $1-10M net worth.
55% of millionaires tithe 10% to religious causes.
Art collections average $500K for top 10% millionaires.
Millionaires allocate 3% of wealth to foundations over lifetime.
Designer clothing purchases are rare; 94% shop sales.
Second homes owned by 25% of millionaires.
Global millionaire philanthropy totals $1.2 trillion annually.
80% of millionaires never lease cars.
Education donations from millionaires average $50K per family.
Watches collection value exceeds $100K for 12% of millionaires.
65% prioritize family trusts in estate planning for giving.
Millionaires spend 2% on jewelry and luxury goods.
25% of global philanthropy from millionaires supports education.
Health causes receive 22% of millionaire donations.
Environmental charities get 15% from new millionaires.
88% of millionaires eat out less than once weekly.
Boats owned by 3% of millionaires.
42% volunteer 100+ hours yearly.
Classic cars valued over $250K for 5%.
70% plan bequests exceeding 20% of estate.
Millionaires tip 20%+ consistently at services.
Opera and arts events attended by 35% yearly.

Philanthropy and Spending Interpretation

Contrary to the flashy stereotype, the data paints a picture of the typical millionaire as a strategic, community-focused steward who is far more likely to be driving a prudent American car to a charity board meeting than a Lamborghini to the marina.

Wealth Accumulation

Self-made millionaires in the US have an average of 7 income streams.
80% of millionaires invested in their company's 401(k) plan early and consistently.
The average millionaire invests 20% of their household income annually.
75% of millionaires report living on less than they make.
Millionaires took an average of 27 years to reach $1 million net worth.
94% of millionaires live in homes they bought, not inherited.
The top 20% of earners save 38% of income to build wealth, per 2023 Fed data.
Consistent investing in low-cost index funds yields millionaire status for average earners over 30 years.
90% of millionaires attribute wealth to hard work, not luck.
Real estate accounts for 20% of average millionaire's net worth.
Millionaires' average savings rate is 15-20% of pre-tax income.
Starting to invest at age 25 with $500/month at 7% return reaches $1M by 65.
65% of millionaires own businesses, key to accumulation.
Dividend investing contributes to 25% of long-term wealth growth for millionaires.
Avoiding debt is cited by 86% of millionaires as crucial.
70% of wealthy individuals own rental properties.
79% of stocks owned by millionaires are held over 10 years.
55% of US millionaires are entrepreneurs who started businesses.
Most millionaires worked 50+ hours weekly early career.
Side hustles contribute to 30% of millionaire income sources.
50% of millionaires bought first home as investment.
Compounding interest accounts for 70% of wealth growth post-40.
82% of millionaires maintain emergency fund of 6 months expenses.
Franchises owned by 8% of millionaires.
Patent income streams for 5% of inventors who are millionaires.
Roth IRA max contributions used by 60% consistently.
Peer-to-peer lending yields 5-7% for 12% of investors.
45% flipped houses for initial capital.
Blogging or content creation monetized by 7%.
68% negotiate salaries annually.
Tax-advantaged municipal bonds held by 35%.

Wealth Accumulation Interpretation

Becoming a millionaire is a mundane marathon, not a magical sprint, paved with frugal habits, relentless saving, consistent investing in boring index funds, and the patient cultivation of multiple income streams over decades, all while meticulously avoiding debt and living below your means.

Sources & References

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