⚠️This fact has been debunked
This fact is incorrect. Current statistics show that women make up approximately 33% of millionaires in the United States, while men represent roughly 67%. The gender wealth gap actually favors men significantly, with women owning considerably less wealth than men at all wealth levels.
There are more female than male millionaires in the United States.
The Truth About Female Millionaires in America
You might have heard the claim that women outnumber men among American millionaires. It sounds like a sign of progress, right? Unfortunately, it's not true—and the real numbers tell a very different story about wealth and gender in the United States.
Women make up only about 33% of millionaires in the U.S., while men represent roughly 67%. That means for every female millionaire, there are about two male millionaires. When you consider that there are approximately 22 million millionaires in America, that breaks down to around 7.3 million women versus 14.7 million men.
The Gap Gets Wider at the Top
The gender disparity becomes even more dramatic as you climb the wealth ladder. Among billionaires, women account for just 13% of the ultra-wealthy in the United States. And when you look at ultra-high-net-worth individuals—people with $30 million or more—women represent only 10.8% globally.
Here's another telling detail: 75.7% of male ultra-high-net-worth individuals are self-made, compared to just 45.2% of women in that category. About a quarter of wealthy women inherited their fortunes, compared to a much smaller percentage of men.
Why the Wealth Gap Persists
The millionaire gender gap isn't happening in isolation—it reflects deeper economic inequalities. Women's median wealth dropped from 90% of men's in the mid-1990s to just 60% by the mid-2010s. Even as the gender pay gap has narrowed slightly, the wealth gap has actually widened.
Several factors drive this disparity:
- A lifetime of lower earnings means less money to save and invest
- Historical barriers to credit and property ownership still have ripple effects
- Women are more likely to take career breaks for caregiving, interrupting wealth accumulation
- Pay discrimination continues to limit earning potential
For never-married individuals, the contrast is stark. In 2019, single women owned just $0.34 for every dollar owned by single men, though this improved to $0.68 by 2022—still far from parity.
The Bottom Line
While individual women have certainly achieved remarkable financial success, and female wealth is growing, men still vastly outnumber women in the millionaire club. The myth of female millionaire dominance doesn't just misrepresent reality—it can obscure the ongoing challenges women face in building wealth.
The next time someone claims women are taking over the millionaire ranks, you'll know the facts: we're not there yet, not even close. Progress is happening, but the finish line is still a long way off.