238,000 More Have At Least $1 Million Since 2015
Another 11,000 households in the United States amassed a minimum of $25 million last year, according to research organization Spectrem Group.
There are now 156,000 households in the U.S. with $25 million or more, not counting their primary home, a 7.5 percent increase over 2015, according to Spectrem Group’s Market Insights Report 2017.
The ultra-high-net-worth market, in which net worth is between $5 million and $25 million, grew to 1,264,000 households, an increase of 54,000 from 2015.
While those increases were taking place at the top of the wealth ladder, the number of millionaires, with a net worth between $1 million and $5 million, climbed by 238,000 households to a record 9.38 million, Spectrem says.
Last year, the number of mass affluent with a net worth of between $100,000 and $1 million reached 30.5 million, an increase of 700,000 households from 2015.
“The record levels of households in each category reflect the significantly higher values of all asset classes post-recession. Also, the recent record level of the United States markets following the presidential election has added demonstrably to the asset level of most affluent investors,’’ says George H. Walper Jr., president of Spectrem Group.
After a notable decrease in affluent households as a result of the recession, all wealth segments have returned to their pre-2008 levels and gone well beyond. There are 1.6 million more millionaires in America in 2016 than there were in 2007, just before the crash affected wealth levels in almost all American households, Spectrem says.
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