1 out of 11 Americans are millionaires

[jon-nyc]

This is 2023 data (thanks Joe!). I’m sure the number has reduced in the last month or two.

Millionaires population (% of adult population):

Switzerland - 15.6%
Hong Kong - 9.9%
Australia - 9.4%
USA 🇺🇲 - 9.0%
Netherlands - 8.6%
Norway - 8.2%
Denmark - 8.0%
New Zealand - 7.0%
Singapore - 6.7%
Canada - 6.7%
Sweden - 5.9%
Belgium - 5.9%
France - 5.6%
UK - 4.8%
Ireland - 4.6%
Taiwan - 3.9%
Germany - 3.9%
Kuwait - 3.2%
Spain - 3.0%
Israel - 3.0%
South Korea - 2.9%
Italy - 2.7%
UAE - 2.7%
Japan - 2.6%
Portugal - 2.0%
Saudi Arabia - 1.4%
Qatar - 1.2%
China - 0.6%
Kazakhstan - 0.5%
Mexico - 0.4%
Russia - 0.4%
Brazil - 0.3%
Romania - 0.3%
Poland - 0.3%
South Africa - 0.2%
Indonesia - 0.1%
Argentina - 0.1%
Turkey - 0.1%
Colombia - 0.1%
India - 0.1%
Pakistan - 0.0%

[Horace]

You can bet that the vast majority of them got there through scrimping, saving, and investing in the stock market.

[Doctor Phibes]

Imagine how much richer they'd be if all those foreigners weren't ripping them off.

[Horace]

@Doctor-Phibes The contributions to the stock market gains, of foreign labor, are tremendous. All those Chinese people assembling those iPhones, were contributing to the compound gains of Americans' retirement accounts.

I'm still trying to get a handle on the target demographic that these tariffs are supposed to help. People who don't currently have jobs, or savings, but who would love to work in a factory. I question whether very many of these people exist.

[Renauda]

@Horace

I'm still trying to get a handle on the target demographic that these tariffs are supposed to help.

If you can figure it out, you should be nominated for the Nobel Prize in Economics.

[89th]

America wins when iPhone production comes to the USA and costs $9,000 retail.

[Jolly]

A bit surprised at Japan.

BTW, even with tariffs (about$300/iPhone, best model), I suspect the price increase to be no more than $100 per phone.

[Axtremus]

@jon-nyc said in 1 out of 11 Americans are millionaires:

This is 2023 data ...

Nominal USD or PPP?

[jon-nyc]

Nominal USD