If you want to know how many very high networth individuals in us there are, you will run into a problem right away: nobody agrees on one number. Counts depend on who defines “very high,” what counts as an asset, and which year the survey covers. This article explains the definitions, which organizations publish estimates, and how to read them.
First, what counts as “very high”?
Wealth managers sort wealthy people into tiers. The labels are industry conventions, not legal categories:
- High net worth (HNW): usually $1 million or more in investable assets, not counting the primary home.
- Very high net worth (VHNW): commonly $5 million to around $30 million.
- Ultra high net worth (UHNW): typically $30 million or more.
Some firms use slightly different cutoffs, and some include real estate while others do not. That alone can change a headcount by large margins.
Who publishes the counts
There is no single official census of the rich. Estimates come from private research groups and banks, for example Capgemini’s World Wealth Report, Knight Frank’s Wealth Report, Altrata and UBS’s Global Wealth Report. Each reports millionaire and UHNW counts for the US, and the US consistently ranks first for the number of wealthy individuals worldwide. The Federal Reserve’s Survey of Consumer Finances is another useful source for the broader distribution of wealth; you can read about it on the Federal Reserve website.
Why I am not quoting one headcount
Millionaire counts in the US run into the millions in most reports, and UHNW counts run into the tens of thousands, but the exact figures change by year and methodology. I do not want to hand you a number that was true for one report in one year. Instead, look up the most recent edition of any of the reports above and note three things: the definition used, the year of the data, and whether primary residences are included.
Why the number moves
Wealth counts follow markets. When stock prices and home values rise, more people cross the thresholds, and when they fall, the totals shrink. Currency, inflation and survey methods also matter. A rise in the number of very high networth individuals in us does not necessarily mean more people got rich through work. It may simply mean existing assets grew.
A quick comparison
| Tier | Typical threshold | Common counting rule |
|---|---|---|
| HNW | $1M+ | Investable assets |
| VHNW | $5M+ | Investable assets |
| UHNW | $30M+ | Net assets, often incl. property |
FAQ
Is there an official government count?
Not for these tiers. Government surveys describe wealth by percentile, not by marketing categories like VHNW.
Does home value count?
It depends on the report. Many exclude a primary residence, while others use total net worth.
Which state has the most wealthy residents?
Reports commonly point to large, high-cost states such as California, New York, Texas and Florida, but rankings shift between editions.
Are these people all business owners?
Many are, along with executives, investors and professionals, though the mix varies.
How many very high networth individuals in us, in context
For most Americans, a net worth in the millions is far from typical. The Federal Reserve’s Survey of Consumer Finances has consistently shown that the median household net worth is a small fraction of the mean, because a small number of very wealthy households pull the average up. That gap is a good illustration of wealth concentration: the top few percent of households hold a large share of total wealth, and VHNW and UHNW households are a part of that group.
It also helps to distinguish between wealth and income. A household can be wealthy on paper through business equity or real estate and still have modest cash flow, while a high earner such as a young doctor or lawyer may have a big salary and, for a while, a low net worth because of student loans. Counts of wealthy individuals measure assets, not salaries.
How to use this information
If you are a marketer, researcher or journalist, always cite the specific report and year. If you are curious where you stand, calculate your own total by adding assets and subtracting debts, then compare with published percentiles from the Federal Reserve data. For more plain explainers on wealth terms, see InvisionFree. Figures change often and this is not financial advice.
