Interesting Facts: Number of Wealthy Indivduals

It is estimated in 2004 that there were 2.7 million adults with gross assets of $1.5 million or more. This was the limit at that time for federal estate tax return filing. In total, these top holders of wealth owned more than $11.1 trillion in assets. After subtracting debts and mortgages of $850.1 billion, these individuals had a combined net worth of more than $10.2 trillion. This means that although they only made up 1.2% of the adult population they controlled 20.3% of the net wealth. Most were married but a significantly higher proportion of the females were widowed compared to the males. While the median net worth of both groups is similar men had a significantly higher average net worth. This reflects the impact of a relatively smaller number of men. California had the largest number of individuals with new worth of $1.5 million or more, while Connecticut has the highest per capita population of these very wealthy individuals.