There Are As Many Millionaires In The U.S. As There Are People In Sweden

By on March 26, 2019 in ArticlesEntertainment

The number of houses in the United States that have a net worth of $1 million to $5 million reached a new high last year. These household net worths don't count the value of the family's primary home. There are more than 10.2 million American households with a net worth between $1 million and $5 million – that is about the same as the number of people who live in Sweden, Portugal, or Jordan.

Despite the rise in the number of households with a net worth over $1 million, overall growth slowed due to a weakening economy and the contentious political environment in the U.S.

Chung Sung-Jun/Getty Images

Ultra-high net worth households – that is those with between $5 million and $25 million – increased at a rate of 3.7% to 1.4 million households. Families with more than $25 million increased by 0.6 percent to 173,000 U.S. households. The number of American households in the wealthiest category has more than doubled since the global financial crisis a decade ago.

The growth rate of wealthy households continues to grow at a more rapid pace than middle class households. Some of the slowing of the growth is due to slowing equity markets after nearly a decade of strong returns. The early effects of the tax reform on wealthy households has also contributed to the slowing growth rate.

Articles Written by Amy Lamare
Amy Lamare is a Los Angeles based writer covering business, technology, entertainment, philanthropy, and pop culture. She spent 8 1/2 years covering the entertainment industry for www.hsx.com. She has written for Los Angeles Magazine, Your Tango, Thinknum Media, and various airline magazines. Follow her on Facebook. Amy's favorite self-made billionaire is Sara Blakely.
Did we make a mistake?
Submit a correction suggestion and help us fix it!
Submit a Correction
Discussion