There Are As Many Millionaires In The U S As There Are People In Sweden

Despite the rise in the number of households with a net worth over $1 million, overall growth slowed due to a weakening economy and the contentious political environment in the U.S. Ultra-high net worth households – that is those with between $5 million and $25 million – increased at a rate of 3.7% to 1.4 million households. Families with more than $25 million increased by 0.6 percent to 173,000 U.S. households. The number of American households in the wealthiest category has more than doubled since the global financial crisis a decade ago. The growth rate of wealthy households continues to grow at a more rapid pace than middle class households. Some of the slowing of the growth is due to slowing equity markets after nearly a decade of strong returns. The early effects of the tax reform on wealthy households has also contributed to the slowing growth rate.