How Many Ultra High Net Worth Individuals In The Us

Let’s talk about money. Boatloads of it. Specifically, the kind that buys islands and private jets.

We’re diving into the Ultra High Net Worth crowd. These are the people with $30 million or more in liquid assets. That’s not including their house or their art collection.

So, how many of these financial unicorns live in the US? Brace yourself. According to recent reports, there are roughly 250,000 to 300,000 of them. That’s a small city of millionaires on steroids.

Why This Number is Mind-Blowing

Think about it. That’s more Ultra High Net Worth folks than the entire population of Newark, New Jersey. But they don’t hang out in Newark. They’re in Manhattan, Palo Alto, or Palm Beach.

The US has about 40% of the world’s UHNWIs. We are the super-wealthy factory. It’s like we’re winning the Monopoly game of life.

And the number is growing. Every two years, about 10-15% more people join this club. It’s a hustle on a planetary scale.

Who are These People?

They’re not all old guys in suits. Surprise. About 25% of them are women. Many are self-made entrepreneurs under 45.

Tech founders are everywhere. Someone’s app about cat memes just made them $50 million. True story. And then there are the heirs—people who were born with a golden spoon permanently attached to their mouths.

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Here’s a quirky fact: 1 in 10 UHNWIs has a personal chef. Another 1 in 5 owns a vineyard. Because why buy wine when you can buy the entire grape farm?

Where Do They All Live?

New York City is the undisputed king. It has about 35,000 UHNWIs. That’s more than the entire country of Canada.

Then comes Los Angeles. Hollywood cash. Silicon Valley is next, with the tech titans. And don’t forget Chicago and Miami—they’re not far behind.

But the weirdest concentration? Atherton, California. A single town with more billionaires per square mile than almost anywhere else. You can’t throw a drone without hitting a hedge fund manager.

How Do They Spend Their Money?

This is the fun part. They don’t just buy cars. They buy car collections. One guy has a garage with 250 Ferraris. He uses them as decor.

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They buy private islands. And then they buy the boat to get there. And then they buy the helicopter to land on the boat. It’s a levels thing.

Here’s a wild stat: UHNWIs collectively own about 3,000 private jets in the US. That’s enough to form the world’s fifth-largest air force. Boom.

But Wait, There’s More

They’re also big on philanthropy. The Giving Pledge has hundreds of them promising to give away half their wealth. Bill Gates, Warren Buffett, MacKenzie Scott—they’re leading the charge.

Still, it’s not all noble. Some use their cash to build doomsday bunkers in New Zealand. Because when the apocalypse comes, they want a view of the mountains.

And let’s talk about taxes. Many of them pay less than you think. They have teams of accountants who turn tax evasion into an olympic sport. It’s a game of hide-and-seek with the IRS.

INFOGRAPHIC: Ultra High Net Worth Population in U.S. by State - Mascola

Why This Matters to You

You might think, “This has nothing to do with me.” Wrong. These people buy the companies you work for. They fund the startups you use. They own the sports teams you cheer for.

Their spending drives the luxury market. That $5,000 handbag you saw? It’s backed by a sea of their cash. And if they decide to sell their stocks, the whole market sneezes.

Plus, it’s just fun to daydream. Imagine having $30 million. What would you do? Buy a volcano lair? Fund a space mission? Start a llama farm?

The Takeaway

The US has a tiny group of people—about 0.07% of the population—who hold a huge slice of the wealth pie. They live in a different world, but they still visit the same planet.

So next time you see a private jet overhead, wave. It’s probably someone figuring out what color Bugatti to match with their yacht. Jealous? A little. But mostly, it’s just fascinating.

Curious about the exact latest count? Check a 2024 wealth report. The number changes every month. But one thing’s certain: there are a lot of very rich people in America. And they’re not slowing down anytime soon. Now go buy a lottery ticket.