View all newsletters
Have the short, sharp Spear's newsletter delivered to your inbox each week
  1. Wealth
July 15, 2009

American millionaires down by a million

By Spear's

Most states have experienced a decrease in the number of millionaire households.

From the San Antonio Business Journal:

Most states have experienced a decrease in the number of millionaire households.

David Thompson, managing director of the Phoenix Affluent Market unit of Phoenix Marketing International, blames the market downturn for taking its toll on the number of millionaires nationwide.

“Since June of 2007, we estimate that the number of millionaires nationally has declined by 14 percent,” Thompson says.

The firm estimates that there are now about 5.1 million households in the U.S. that qualify as millionaire households, down from nearly six million two years ago.

California ranked first with 662,735 households with more than $1 million in income. Texas ranked second with 346,302 millionaires. New York ranked third with 345,892 millionaires. Florida ranked fourth with 344,842 millionaires and Illinois ranked fifth with 223,636 millionaires.

To read the full story, visit bizjournals.com

Content from our partners
How the Thuso Group’s invaluable experience and expertise shaped the Spear’s Schools Index 2024
AP Executive: Your Trusted Global Partner in Wealth Management Recruitment
A League of Their Own

Select and enter your email address The short, sharp email newsletter from Spear’s
  • Business owner/co-owner
  • CEO
  • COO
  • CFO
  • CTO
  • Chairperson
  • Non-Exec Director
  • Other C-Suite
  • Managing Director
  • President/Partner
  • Senior Executive/SVP or Corporate VP or equivalent
  • Director or equivalent
  • Group or Senior Manager
  • Head of Department/Function
  • Manager
  • Non-manager
  • Retired
  • Other
Visit our privacy policy for more information about our services, how New Statesman Media Group may use, process and share your personal data, including information on your rights in respect of your personal data and how you can unsubscribe from future marketing communications.
Thank you

Thanks for subscribing.

Websites in our network