How Many Deca-Millionaires Are in the US?
Gain a clear perspective on the number of deca-millionaires in the US and the methods used to understand this segment of extreme wealth.
The concentration of wealth in society sparks widespread curiosity about the financial landscape. Understanding the distribution of significant fortunes provides insight into economic trends and a nation’s financial health. This interest often extends to individuals with substantial wealth, such as deca-millionaires, illustrating the upper echelons of financial prosperity.
What Constitutes Deca-Millionaire Wealth
A “deca-millionaire” refers to an individual with a net worth of $10 million or more. This status is determined by calculating total assets minus total liabilities. Assets include cash, checking and savings accounts, investment portfolios (stocks, bonds, mutual funds), retirement accounts (401(k)s, IRAs), real estate, business equity, and other tangible valuables like art or luxury vehicles.
Liabilities, subtracted from assets, encompass various forms of debt. These include outstanding mortgage balances, credit card debt, student loans, and other financial obligations. While the core definition of $10 million in net worth remains consistent, some financial reports may vary their inclusion criteria, for instance, by emphasizing liquid assets or sometimes excluding a primary residence.
Current Number of Deca-Millionaires in the US
Estimates regarding the precise number of deca-millionaires in the United States vary due to diverse methodologies and reporting periods. Based on 2023 data from the Federal Reserve’s Survey of Consumer Finances, approximately 2,132,856 households in America held a net worth of $10 million or more. This figure represents a significant portion of the country’s wealthiest households.
More recent data from March 2025, referenced by Quartz, indicates there are 905,413 individuals in the U.S. with more than $10 million in assets, categorized as Ultra-High-Net-Worth Individuals (UHNWIs). The USA Wealth Report 2025, published by Henley & Partners, specifies that the U.S. is home to 10,800 centi-millionaires (individuals with $100 million or more) and over 850 billionaires. These differences underscore that such statistics are dynamic and depend on the specific criteria and timing of each study.
How Deca-Millionaire Figures Are Estimated
Estimating the number of deca-millionaires is complex, as precise individual wealth data is not publicly available. Research firms and financial institutions rely on a combination of methods to compile these figures. Data sources include aggregated tax records, public stock market filings, property records, and economic models that project wealth distribution.
Analysts also use statistical analysis and surveys, combining this information with prevailing market conditions and asset valuations. A significant challenge is accurately valuing private assets, such as closely held businesses or unique collectibles, which are not readily traded. Additionally, wealth held across multiple jurisdictions or in less liquid forms can be difficult to track. These reports provide valuable insights into wealth trends, but they represent informed estimates rather than exact counts.