# Estimate the number of millionaires in the world **URL:** \ **Category:** Factual Questions\ **Created:** [June 12, 2003, 3:32pm UTC](https://boards.straightdope.com/t/estimate-the-number-of-millionaires-in-the-world/181347 "2003-06-12T15:32:54Z")\ **Posts on this page:** 8\ **Page:** 1
**Author:** ![HughManatee](https://avatars.discourse-cdn.com/v4/letter/h/22d042/32.png) [@HughManatee](https://boards.straightdope.com/u/HughManatee)\ **Post date:** [June 12, 2003, 3:32pm UTC](https://boards.straightdope.com/t/estimate-the-number-of-millionaires-in-the-world/181347/1 "2003-06-12T15:32:54Z")
I was just wondering how many millionaires there are, alive, today. And do we know exactly how many billionaires there are today? ---
**Author:** ![Q.E.D](https://avatars.discourse-cdn.com/v4/letter/q/51bf81/32.png) [@Q.E.D](https://boards.straightdope.com/u/Q.E.D)\ **Post date:** [June 12, 2003, 3:39pm UTC](https://boards.straightdope.com/t/estimate-the-number-of-millionaires-in-the-world/181347/2 "2003-06-12T15:39:00Z")
[7.1 million worldwide in 2001](http://kn.koreaherald.co.kr/SITE/data/html_dir/2002/06/29/200206290016.asp). ---
**Author:** ![Bruce\_Daddy](https://avatars.discourse-cdn.com/v4/letter/b/85f322/32.png) [@Bruce\_Daddy](https://boards.straightdope.com/u/Bruce_Daddy)\ **Post date:** [June 12, 2003, 3:40pm UTC](https://boards.straightdope.com/t/estimate-the-number-of-millionaires-in-the-world/181347/3 "2003-06-12T15:40:50Z")
> [@](#): > > Overall, the wealth of millionaires across the world grew by 3.6 percent to $27.2 trillion, the study found. Nearly 200,000 more people made the cut in 2002, bringing the total number of millionaires to 7.3 million worldwide. From [http://money.cnn.com/2003/06/11/pf/millionaire/millionaires/index.htm?cnn=yes](http://money.cnn.com/2003/06/11/pf/millionaire/millionaires/index.htm?cnn=yes) ---
**Author:** ![yabob](https://sea3.discourse-cdn.com/straightdope/user_avatar/boards.straightdope.com/yabob/32/2821_2.png) [@yabob](https://boards.straightdope.com/u/yabob)\ **Post date:** [June 12, 2003, 3:44pm UTC](https://boards.straightdope.com/t/estimate-the-number-of-millionaires-in-the-world/181347/4 "2003-06-12T15:44:31Z")
Forbes currently lists 476 billionaires as “the World’s richest people”: > **[The World's Richest People](https://www.forbes.com/2003/02/26/billionaireland.html)** > > Our annual list. (1 billion is their cutoff point for this list - they note that there are fewer this year than ;ast year) ---
**Author:** ![Rayne\_Man](https://avatars.discourse-cdn.com/v4/letter/r/df705f/32.png) [@Rayne\_Man](https://boards.straightdope.com/u/Rayne_Man)\ **Post date:** [June 12, 2003, 3:52pm UTC](https://boards.straightdope.com/t/estimate-the-number-of-millionaires-in-the-world/181347/5 "2003-06-12T15:52:12Z")
I would have thought that the whole population of Turkey are millionaires as the current rate of exchange is about one and a half million Turkish Lira to the dollar. ---
**Author:** ![HughManatee](https://avatars.discourse-cdn.com/v4/letter/h/22d042/32.png) [@HughManatee](https://boards.straightdope.com/u/HughManatee)\ **Post date:** [June 12, 2003, 3:58pm UTC](https://boards.straightdope.com/t/estimate-the-number-of-millionaires-in-the-world/181347/6 "2003-06-12T15:58:03Z")
Wow, thanks. Count on the SDMB for such fast answers. ---
**Author:** ![astorian](https://avatars.discourse-cdn.com/v4/letter/a/ad7895/32.png) [@astorian](https://boards.straightdope.com/u/astorian)\ **Post date:** [June 12, 2003, 4:24pm UTC](https://boards.straightdope.com/t/estimate-the-number-of-millionaires-in-the-world/181347/7 "2003-06-12T16:24:17Z")
Of course, much depends on how you define “millionaire.” A lot of people who are NOT rich could qualify for the title if they liquidated every asset they had. A retired couple on Long Island who own their own house outright and have a few simple investments might very well be worth a million dollars on paper. And while they’d probably be quite comfortable, they certainly wouldn’t be living in luxury. A million bucks isn’t what it used to be! ---
**Author:** ![yabob](https://sea3.discourse-cdn.com/straightdope/user_avatar/boards.straightdope.com/yabob/32/2821_2.png) [@yabob](https://boards.straightdope.com/u/yabob)\ **Post date:** [June 12, 2003, 4:45pm UTC](https://boards.straightdope.com/t/estimate-the-number-of-millionaires-in-the-world/181347/8 "2003-06-12T16:45:20Z")
Based on total assets, yes, your next door neighbor in a middle class neighborhood may be a millionaire these days. You will note that the CNN report quoted above defines millionaire as $1 million in FINANCIAL assets. Dial in home equity, and that number’s going to be a good deal larger. And at any reasonable draw down, a million bucks may provide a livable income, but not a lavish one. Indeed, a million ain’t what it used to be. BTW, you will note that the Forbes list does not include Queen Elizabeth - much of what people often quote as her worth is not HER personal fortune, it belongs to the crown. Personally, she’s still quite wealthy, but not a billionaire. Considerations like that change how you count the number of super-rich.