Speaking of the Slumdog Millionaire, what are the 15 poorest states with the fewest millionaires per capita?
When talking about the US, foreigners always think about it as a dreamland where all their dreams can come true. We realize that not everyone living in the US is that lucky to be called the high class, but due to the country’s development in general, there should be plenty of people with 2 commas on their bank account. But the truth is that living on Manhattan doesn’t immediately make you the millionaire, but the person living among millionaires. This is exactly the case of the whole US in general. Just because someone lives inside the boundaries of the US, doesn’t necessarily mean that they are rich.
When we say millionaire, we don’t think about the people with expensive houses and stocks, but people who have more than $1 million liquid money. The liquid money is physical cash or any other asset that can be easily turned into $1 million cash. The thing is, being a millionaire has a different meaning in each country. While millionaires in the US are considered to be very wealthy people, while a millionaire in Vietnam is considered to be a very poor class, because translated into the dollar, their one million is about 44 US dollars.
According to the World Wealth Report 2016, there are 60% of all millionaires on global level concentrated in 4 countries: China, Germany, Japan, and, without any competition, the US. The total wealth of all millionaires is estimated to be around $58.7 trillion, calculated for 15.36 million high net worth individuals. If you have already calculated the exact amount of money per each of them, don’t be shocked, because not all of them are lighting their Cubanas with $100. Actually, the majority or 90% of all millionaires have the liquid assets of 1 to 5 million dollars in cash or bank account, while only 0.9% or 147.000 millionaires are worth more than $30 million. And now, let’s take a look at the US millionaires individually. According to this report, only 4,458 individuals with the net worth of over $1 million, this is for 100 individuals more than the previous year. Still, the US is compiled by more than 50 states, which means that there are around 90 millionaires per state. But this actually isn’t the case. So what is the wealthiest state in the US? Let’s take a look at the original report to find it out and see also what the 15 poorest states with the fewest millionaires are per capita for comparison.