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SmartAsset ranked states based on the minimum pre-tax income needed to be considered a top 1% earner, based on the latest IRS tax return data.
Here's what it takes to be in the top 1% in your state — plus a few tips to help you reach a new income bracket in 2025 ... These 5 magic money moves will boost you up America's net worth ladder ...
The average wages of those in the top 1 percent of wage earners were $785,968 that year. In the rarefied top 0.1 percent, the average earnings were more than $2.8 million in 2022.
States by number and share of households with more than $1 million in investable assets (2019) [2] Rank State Number of millionaire households Share of millionaire households 1 California: 1,147,251 8.51% 2 Texas: 650,216 6.32% 3 New York: 570,456 7.52% 4 Florida: 496,971 5.87% 5 Illinois: 346,873 7.13% 6 Pennsylvania: 328,859 6.44% 7 New Jersey
[11] [12] In 2015, the New York Times carried a list of top donors to political campaigns. [13] Herbert had noted that it was "a tiny group – just one-quarter of 1 percent of the population – and it is not representative of the rest of the nation. But its money buys plenty of access." [11]
The combined net worth of the 2020 class of the 400 richest Americans was $3.2 trillion, up from $2.7 trillion in 2017. [1] As of March 2023, there were 735 billionaires in the United States. [ 2 ]
This salary figure is a decrease of 3.30% from the previous year, suggesting that the top 1% earners have not experienced the same wage growth as those in the bottom 99%.
While the income of the top 1% varies, Forbes reported in 2023 that the bracket's minimum net worth is much higher — a cool $11.1 million. Finding your way into these financial brackets isn’t ...