How many US billionaires are there and how much are they worth?

How many US billionaires are there and how much are they worth?
Latest stats show an increase in the number and wealth of US billionaires.
NOV 21, 2024

The United States continues to lead the world for billionaires – led by Elon Musk who could become the first ever trillionaire  - with the population of these super-wealthy people growing according to a new report.

There were 1,050 US-based billionaires in 2023, up 9.9% year-over-year, with a combined wealth of almost $5 trillion. This puts the US well ahead of the second-placed China with 305 billionaires (down almost 15% year-over-year) with a combined $1.7 trillion.

The stats are from New York based Altrata’s Billionaire Census, which reveals that America is home to almost one third of the world's billionaires who hold 40% of the world's billionaire wealth. Their investment in the US tech-focused stock market has helped this outperformance and offset slight currency weakness and political instability.

Billionaires make up less than 1% of the world’s ultra-high-net-worth population (assets of $30 million or more) but hold 25% of its wealth. There is also an elite 0.5% of billionaires with fortunes of $50 million or more. This cohort is just 18 people and they account for 16% of billionaire wealth, a dramatic increase from 4% in 2014.

New York is the city with the most billionaires at 144, followed by Hong Kong (107), and San Francisco (87) in the top three. Los Angeles - with 62 billionaires - is the only other US city in the top 15.

WOMEN BILLIONAIRES

Women are growing their share of the billionaire population but account for just 13%, with three quarters having inherited their wealth while 24% are self-made billionaires compared to 65% of men.

The average age of female billionaires is 67, slightly lower than for men, while 13% of women in the cohort are under 50, a group which added Taylor Swift during this year.  

Women billionaires are most likely to be professionals in the nonprofit space and financial services while those who are self-made are most commonly from financial services or tech.

The report also found that billionaire women are 1.5 times more likely to own high-end real estate and 1.3 times more likely to own valuable art than male billionaires.

Latest News

RIA giant Mercer matches 2024 deal count, lays groundwork for Idaho expansion
RIA giant Mercer matches 2024 deal count, lays groundwork for Idaho expansion

Oregon-based Eagle Wealth Management and Idaho-based West Oak Capital give Mercer 11 acquisitions in 2025, matching last year's total. “We think there's a great opportunity in the Pacific Northwest,” Mercer's Martine Lellis told InvestmentNews.

Osaic ponies up $9.8M to settle clients’ lawsuit involving real estate, alternatives
Osaic ponies up $9.8M to settle clients’ lawsuit involving real estate, alternatives

Osaic has now paid $17.2 million to settle claims involving former clients of Jim Walesa.

RIA moves: CW Advisors scores a double in Pennsylvania, Apella Wealth makes Chicago debut
RIA moves: CW Advisors scores a double in Pennsylvania, Apella Wealth makes Chicago debut

Osaic-owned CW Advisors has added more than $500 million to reach $14.5 billion in AUM, while Apella's latest deal brings more than $1 billion in new client assets.

$2.5B Validus Capital partners with Merchant to chase multi-family office ambitions
$2.5B Validus Capital partners with Merchant to chase multi-family office ambitions

The up-and-coming Los Angeles-based RIA is looking to tap Merchant's resources to strengthen its alts distribution, advisor recruitment, and family office services.

Corient announces double alliance to form world-leading $430B UHNW wealth platform
Corient announces double alliance to form world-leading $430B UHNW wealth platform

US wealth advisory business will get international footprint boost with new tie-ups.

SPONSORED How advisors can build for high-net-worth complexity

Orion's Tom Wilson on delivering coordinated, high-touch service in a world where returns alone no longer set you apart.

SPONSORED RILAs bring stability, growth during volatile markets

Barely a decade old, registered index-linked annuities have quickly surged in popularity, thanks to their unique blend of protection and growth potential—an appealing option for investors looking to chart a steadier course through today's choppy market waters, says Myles Lambert, Brighthouse Financial.