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20 million guys here in USA. We just minted 2 million more.
The article doesn’t say so, but most of these people must simply be homeowners, given the following three statements. You own a house in one of these places, you are quite possibly a millionaire.
17. Where do millionaires invest their money?
(Source: The College Investor)
Investing in real estate is still the most popular of all millionaire investment and spending choices. For over 200 years, approximately 90% of the global millionaires have been spending their fortunes on real estate investments. This trend is expected to grow.
For investors, real estate offers the biggest opportunity to develop wealth. A good way to dip your toes in the real estate business is to buy your first primary residence.
18. Which US city has the highest number of UHNW people?
(Source: Wealth-X)
New York is the city with the highest concentration of ultra-rich millionaires, with 24,660 UHNW. The second spot belongs to Los Angeles, with 16,295 millionaires. San Francisco is third, with 6,740 millionaires. Chicago and Miami take the fourth and fifth positions with 6,085 and 5,615 UHNW individuals, respectively.
19. How many properties are owned by the average American millionaire?
(Source: Statista)
The largest fraction (43%) of millionaires in the US owns only one house. Roughly 20% own two, and only 8.5% of them own five or more.
When it comes to millennial millionaires, they own an average of three properties with a real estate portfolio worth $1.4 million.