United States’ population of ultra-high-net-worth individuals increased by 6 % in 2014
The U.S. is home to 69,560 UHNW individuals, more than any other country in the world. When compared to the entirety of the UHNW global population, those from the U.S. account for a third of the population. UHNW individuals in the U.S. are worth more than $500 million, and grew faster than all other wealth tiers in terms of population size and wealth.
As for millionaires, the U.S. is home to more individuals worth $30 million to $49 million than all the wealth tiers in any other country. The U.S. is also home to the largest population of billionaires while 2,031 individuals are worth a combined $3.3 trillion.
These UHNW individuals are spread primarily among 13 of the country’s top tier cities, with populations of more than 1,000 individuals. On a global scale, 35 of the 100 top cities, in terms of UHNW population size, are within the U.S. as well.
Overall, 65 percent of the U.S. UHNW population resides in 30 cities such as New York, San Francisco, Los Angeles, Chicago and Washington being in the top 5. To put the percentages in a global context, Charlotte, NC is ranked 30th on the list, but its UHNW population is larger than that of a number of Middle Eastern countries such as Israel, Lebanon, Qatar and Bahrain.
Wealth-X’s “American Ultra Wealth Ranking 2014-2015” found that the UHNW population of the U.S. is primarily concentrated in major metropolitan areas across the country, while some states boast more than one city with a large demographic of wealth. Having access to this information can help brands and retailers determine the best areas in the U.S. to expand or fine-tune their retail footprint to better serve this discerning consumer segment.