Where do rich people live?

Rich people live globally in major economic hubs like New York, London, Hong Kong, Los Angeles, and Tokyo, often clustering in specific high-end neighborhoods, coastal areas, or exclusive gated communities for privacy, status, and access to amenities, with significant numbers also residing in wealth-friendly regions like the UAE. U.S. cities such as San Francisco, Chicago, Dallas, Washington D.C., and Miami also host large populations of the ultra-wealthy.

What do 90% of millionaires do?

The famed wealthy entrepreneur Andrew Carnegie famously said more than a century ago, “Ninety percent of all millionaires become so through owning real estate. More money has been made in real estate than in all industrial investments combined.

Where is the safest place for millionaires to live?

The United Arab Emirates, particularly Dubai and Abu Dhabi, has emerged as one of the most popular destinations for millionaire migration. The UAE's cities rank among the world's safest—street crime is remarkably rare, with homicide rates comparable to Singapore (about 0.5 per 100,000).

Where do top 1% live?

The states with the highest earners are clustered on the coasts, and include Connecticut, Massachusetts, California, Washington, New Jersey, and New York. These states are also home to big towns and cities with more well-paid jobs available.

What country do most billionaires live in?

The United States has the most billionaires in the world by a significant margin, with China ranking second and India third, according to 2025 data from sources like Forbes and Hurun Global Rich List. The U.S. leads due to its strong economy, deep capital markets, and thriving tech/startup ecosystem, housing over 900 billionaires compared to China's 500+ and India's 200+.
 

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Who is world's no. 1 richest person?

The #1 richest man in the world is Elon Musk, CEO of Tesla and SpaceX, with a net worth estimated well over $600 billion, leading the Forbes and Bloomberg lists as of early January 2026, followed by tech titans like Larry Page (Google) and Jeff Bezos (Amazon). Musk's wealth comes from his significant stakes in Tesla, SpaceX, xAI, and other ventures, making him a consistent leader in global wealth rankings.
 

Who owns 90% of America's wealth?

The top 10% own 87.2%, and the bottom half owned 1.1%. Corporate equities and real estate facilitated the accumulation of wealth for baby boomers. In 2024, the Silent Generation and baby boomers represented 25% of the population, but held 65% of all wealth in the US.

Where do the wealthiest Americans live?

New York City, New York. New York remains unmatched as the wealthiest city in America in 2025. As the country's financial capital, it houses more millionaires and billionaires than any other U.S. city.

How many people in the US make $500,000 a year?

Over a million Americans earn $500,000 or more annually, with estimates from late 2024/early 2025 suggesting around 1.5 million people fall into this high-income bracket, representing roughly 0.9% of workers, though this varies by location, with high concentrations in tech hubs like the San Francisco Bay Area. This is a much smaller percentage than many people perceive, with studies showing a common overestimation of how many people earn such high incomes. 

Where are rich Americans moving to?

Europe remains a primary destination for wealthy Americans, with residence programs in Greece, Italy, Latvia, Malta, Portugal and Switzerland offering lifestyle and business advantages. Americans are also pursuing citizenships in the Caribbean, Nauru, and Turkey.

What bank do most millionaires use?

Millionaires don't stick to one bank; they often use major institutions' private banking arms, like J.P. Morgan Private Bank, Bank of America Private Bank (U.S. Trust), and Citi Private Bank, for personalized wealth management, dedicated teams, and global services, alongside other private wealth managers like Goldman Sachs & Morgan Stanley, focusing on customized services beyond basic banking. 

What makes 90% of millionaires?

There are so many people who have the knowledge but haven't actually applied the information. This is the power of real estate. Not only has it made 90% of millionaires.

What job makes $1,000,000 a year?

Entrepreneurship, Healthcare and CEOs

About 1% of U.S. small business owners, roughly 300,000, achieve this annually, per IRS data. Healthcare, especially highly specialized medicine, enables seven-figure incomes, with top neurosurgeons and cardiac surgeons often exceeding $1 million in private practice.

What do extremely rich people do for fun?

Six Ways How The Ultra Rich Have Fun

• Extreme Travel. ...
• High-Stakes Gambling at Top Luxury Casinos. ...
• Collecting Antiques and Rare Art. ...
• Exclusive Sports. ...
• Hosting Lavish Events. ...
• Investing In Hobbies and Passion Projects. ...
• Wrapping Up.

Is a 500k salary considered rich?

Based on that figure, an annual income of $500,000 or more would make you rich. The Economic Policy Institute uses a different baseline to determine who constitutes the top 1% and the top 5%. For 2021, you're in the top 1% if you earn $819,324 or more each year. The top 5% of income earners make $335,891 per year.

Are you rich if your net worth is $1 million?

Yes, having $1 million generally puts you in a strong financial position, making you a high-net-worth individual (HNWI) by financial industry standards, yet many Americans, even millionaires, don't feel wealthy due to rising costs, inflation, and lifestyle expectations, with surveys suggesting most think you need over $2 million to truly be considered "rich" today. 

Can you live off interest of $500,000?

Yes, you can live off $500,000, but it depends heavily on your lifestyle, location, and other income sources like Social Security; using the 4% rule, that's about $20,000/year, which is tight but manageable for frugal living or with other income, while smarter investments can yield more, but require careful management to avoid depleting the principal, says SmartAsset.com and Approach Financial. 

What is the average net worth of a 70 year old couple?

For a 70-year-old couple (ages 65-74), the average (mean) net worth is around $1.8 million, while the median is significantly lower at approximately $410,000, reflecting that many households have less, but a few very wealthy ones pull the average up; this is often their peak wealth before retirement withdrawals, with data from late 2025 showing these figures.
 

Which state has no billionaire?

As of recent reports (2024-2025), the U.S. states with no billionaire residents are Alaska, Delaware, and West Virginia, though this list can fluctuate slightly, with New Hampshire, New Mexico, and North Dakota sometimes mentioned as having zero or very few, depending on the source. 

Who is the wealthiest family in the USA?

The Walton family, heirs to the Walmart fortune, are consistently ranked as the richest family in America, with their wealth primarily stemming from their significant ownership of the global retail giant. While exact figures vary by source and year, their fortune is estimated in the hundreds of billions, far exceeding other wealthy families like the Mars (candy, pet food) or Koch (energy, manufacturing) families, who also rank high on lists of America's wealthiest dynasties.
 

Where do extremely rich people live?

Here are the report's top 10 cities with the highest populations of ultra-wealthy people:

• New York. Number of ultra-wealthy people: 21,380. ...
• Hong Kong. Number of ultra-wealthy people: 17,215. ...
• Los Angeles. Number of ultra-wealthy people: 11,680. ...
• San Francisco. Number of ultra-wealthy people: 8,270. ...
• Chicago. ...
• Tokyo. ...
• London. ...
• Dallas.

Who will be the 1st trillionaire?

While no one is a trillionaire yet, Elon Musk is widely projected to be the first, potentially by 2027, driven by his stakes in Tesla, SpaceX, and X, with some forecasts suggesting SpaceX's potential IPO could significantly accelerate this. Jeff Bezos and Jensen Huang (Nvidia) are also in contention, but Musk's diverse and rapidly growing ventures place him at the forefront, with a major Tesla pay package potentially adding to his net worth, notes PBS News and Yahoo Finance.
 

Where does Trump rank in wealth?

(In 2018, this was 766th in the world, 248th in the U.S. In 2019, this was 715th in the world, 259th in the U.S.) Bloomberg Billionaires Index listed Trump's net worth as $2.48 billion on May 31, 2018, and Wealth-X listed it as at least $3.8 billion on July 16, 2018.

How many Americans have $2 million in the bank?

Only about 1.8% of U.S. households have $2 million or more in retirement savings, a figure from the Employee Benefit Research Institute (EBRI) using Federal Reserve data (2022 Survey of Consumer Finances). This places them in a very small minority, with even fewer (0.8%) reaching $3 million in retirement funds, highlighting that significant wealth accumulation for retirement is rare for most Americans.