How Big Is The Top 1% Earners in the US?
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According to data from the Economic Policy Institute, approximately 1.3 million households or 1.8 million individual workers comprise the top 1% of earners in the United States. This elite group, defined by an annual household income threshold of $591,550 or an individual income of $407,500 as of 2023, represents a small but influential segment of the American population.
What Does it Take to Be in the Top 1% of Earners in the United States?
financialsamurai.com
The top 1% in the United States represents a small but influential group of high-income earners and wealth holders. To be considered part of the top 1% by income, an individual would need to earn at least $407,500 annually, while a household would require an income of $591,550 or more
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. In terms of net worth, the threshold is significantly higher, with households needing at least $13,666,778 in assets to be part of the top 1%3
. This elite group comprises approximately 1,313,064 households or 1,784,529 individual workers in the United States3
. The income and wealth of the top 1% have grown substantially over the past decades, with their share of the nation's wealth increasing from 23% to nearly 32% between 1989 and 20184
. This concentration of wealth has contributed to widening income inequality, as the top 1% now earn over 22% of the total adjusted gross income in the U.S. and pay nearly 42% of all federal income taxes4
.5 sources
How Many People Are in the Top 1% of Earners in the US?
The top 1% in the United States represents a small but influential segment of the population. As of 2023, approximately 1,313,064 households or 1,784,529 individual workers fall into this category
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. This elite group wields significant economic power, holding about 23.4% of the nation's wealth as of Q1 20243
. The wealth concentration is even more pronounced at the very top, with the average household in the top 1% having a net worth of about $33.4 million, while those in the top 0.1% have an average household wealth exceeding $200 million1
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- Income threshold for top 1%: $591,550 for households, $407,500 for individuals2
- Net worth threshold for top 1%: $13,666,7782
- Wealth share: 23.4% of nation's wealth held by top 1%3
- State variations: Income thresholds range from $370,000 to $950,000 depending on the state4
4 sources
What Does It Take to Be in the Top 1% of Net Worth in the US?
businessinsider.com
The net worth threshold for the top 1% in the United States is significantly higher than the income threshold, reflecting the substantial wealth accumulation of this elite group. As of 2023, a household needed a net worth of at least $13,666,778 to be considered part of the top 1% by wealth
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. This figure starkly contrasts with the median household net worth of approximately $192,900 in 20225
. The disparity becomes even more pronounced when considering that many American households have zero or negative net worth3
. For context, the top 10% of households by net worth starts at $1,920,758, while the top 0.1% begins at $61,827,1663
. This concentration of wealth at the top highlights the significant economic inequality in the United States, with the share of the nation's wealth held by the top 1% increasing from 23% to nearly 32% between 1989 and 20181
.5 sources
Related
What factors contribute to the widening wealth gap between the top 1% and the rest of the population
How does stock ownership influence the net worth of the top 1%
What are the main challenges faced by middle-class Americans in increasing their net worth
How does the net worth of the top 1% impact their influence on corporate governance
What role do tax breaks play in the accumulation of wealth by the top 1%
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