Ever find yourself sitting in a slightly-too-expensive coffee shop, looking around, and wondering who actually has the "big" money? Not just the "I have a nice house" money, but the kind of wealth where work becomes a choice rather than a chore. If you're looking for the specific number of how many 10 millionaires in the us right now, you're tapping into a very exclusive—but surprisingly fast-growing—club.
Honestly, the numbers might shock you. We aren't just talking about a few guys in Silicon Valley. We’re talking about a massive demographic shift that’s redefining what the American upper class looks like in 2026.
The Big Number: How Many 10 Millionaires in the US Today?
Let’s cut to the chase. According to the most recent data from the Knight Frank Wealth Report 2025 and updated projections for 2026, there are approximately 920,000 to 950,000 individuals in the United States with a net worth of $10 million or more.
That is nearly a million people.
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Think about that for a second. If you put all the American decamillionaires (the fancy term for 10-millionaires) into one city, it would be larger than the population of San Francisco or Seattle.
The U.S. is basically the global factory for high-net-worth individuals. To give you some perspective, the UBS Global Wealth Report 2025 noted that the U.S. accounts for nearly 40% of the world's millionaires. But when you level up to the $10 million mark—the High Net Worth Individual (HNWI) tier—the concentration in America becomes even more intense.
Why is this group growing so fast?
You've probably noticed that despite all the talk of "economic uncertainty," the stock market and real estate have been on a bit of a tear over the last few years.
- The Equity Engine: Most of these folks didn't get there through a monthly paycheck. They got there through equity. Whether it’s founders of mid-sized companies or early employees at tech giants, the compounding effect of the S&P 500 has been a massive wealth escalator.
- The Real Estate Factor: If you bought a commercial building or a chunk of residential real estate in a major metro ten years ago, you're likely sitting on a goldmine.
- The Great Wealth Transfer: We are currently in the middle of a massive hand-off. The UBS report highlights that over $83 trillion is expected to transfer between generations over the next two decades. A lot of that is landing in the laps of Gen X and Millennials right now, pushing them into the 10-million-plus bracket overnight.
Where Do These 10-Millionaires Actually Live?
It’s not just New York and LA anymore, though those are still the heavy hitters. If you’re hunting for decamillionaires, you have to look at the "Wealth Hubs" identified by Henley & Partners.
- New York City: Still the king. Between Manhattan and the surrounding suburbs, the density of $10M+ households is higher here than anywhere else on earth.
- The Bay Area: San Francisco and Silicon Valley. This is "Equity Central."
- Miami: This has been the biggest mover lately. The tax-friendly environment of Florida has pulled 10-millionaires out of the Northeast and Midwest in droves.
- Austin and Nashville: These are the "emerging" hubs. They’ve seen some of the fastest growth in the $10M+ population over the last three years.
It’s kinda wild to think about, but in certain neighborhoods in these cities, having $10 million doesn't even make you the "rich" person on the block. It’s just... baseline.
What Does "10 Millionaire" Life Actually Look Like?
There’s a common misconception that $10 million means private jets and yachting in the South of France.
Not really.
In 2026, $10 million is what many financial advisors call "The Comfort Zone." According to the First Citizens Bank 2025 Wealth Survey, the average wealthy American now believes they need at least **$6.3 million** just to retire and pass on wealth comfortably.
When you have $10 million, your lifestyle usually looks like this:
- Paid-off Primary Residence: Usually valued between $2M and $4M.
- Investment Portfolio: $5M to $7M sitting in diversified ETFs, private equity, or municipal bonds.
- The "Secret" Wealth: Many in this bracket are "stealth wealthy." They drive a nice SUV, sure, but they aren't dripping in designer gear. They value time and autonomy over flash.
The Nuance of Liquidity
Here is something people get wrong: net worth isn't the same as cash in the bank. A huge chunk of these 950,000 people are "paper millionaires." Their wealth is tied up in a family business or a real estate portfolio. They might have a $10 million net worth but still feel "strapped" for cash because they’re reinvesting everything back into their company.
Common Misconceptions About the $10M+ Club
Most people think this group is all "old money." That’s just flat-out wrong.
The Capgemini World Wealth Report 2025 points out that a significant portion of the new $10M+ demographic is self-made. We're talking about plumbing franchise owners, specialized consultants, and software engineers who stayed at a company for 15 years.
Also, don't assume they're all retirees. The "Next-Gen HNWI" (High Net Worth Individual) is a real thing. People in their 30s and 40s are hitting these numbers faster than ever thanks to the digital economy and the aforementioned wealth transfer.
Actionable Insights: What Can We Learn from the Numbers?
If you're aiming for this bracket, or just trying to understand the landscape, here’s the reality of how the $10 million population stays there:
- Diversification is Non-Negotiable: Most 10-millionaires don't keep their money in one basket. They mix traditional stocks with "alternatives" like private credit or real estate syndications.
- Tax Strategy is the Real Game: At this level, it's not about how much you make; it's about how much you keep. This is why we see so much migration to states like Florida, Texas, and Wyoming.
- Estate Planning is a Mess: Interestingly, the First Citizens Bank survey found that even among the wealthy, about half don't have a formal estate plan. If you're building wealth, get the legal structure right before the numbers get big.
The number of 10-millionaires in the US is going to keep climbing. As the dollar’s purchasing power shifts and asset prices continue to inflate, the "10 million" mark is becoming the new "1 million." It’s a fascinating, slightly chaotic time for American wealth.
To stay ahead, focus on asset location (where your money is taxed) as much as asset allocation (what you’re invested in). Review your net worth annually using a "liquid vs. illiquid" lens to ensure you aren't just wealthy on paper, and consult with a fee-only financial planner to navigate the increasingly complex tax codes of 2026.