How many millionaires and billionaires are there in the United States? The data is heartbreaking.

Do you think rich people are everywhere? Actually, they are not. As of 2023, there are only 735 billionaires in the United States, but there are many more millionaires—nearly 22 million. The U.S. has 40% of the world's millionaires, but their lives don't seem that great.

The Real Wealth of Celebrities

Rock star Dwayne Johnson has a net worth of $800 million, country music queen Dolly Parton has $650 million, and J.Lo has $400 million. But none of these are the richest - that title belongs to Elon Musk.

The Real Wealth Ceiling

Elon Musk remains the richest person in the United States with $251 billion, $90 billion more than Amazon founder Jeff Bezos. Oracle boss Larry Ellison ranks in the second tier with $158 billion, followed by Buffett with $121 billion, Bill Gates with $111 billion, and Zuckerberg with $106 billion.

The total assets of the 400 richest people in the United States exceed 4 trillion dollars—12 zeros, just imagine.

But having money also comes with troubles

Inflation still hurts: A wealthy retired client wanted to send his grandson to the same private school in Florida where his son enrolled 25 years ago, only to find that the tuition is four times what it was then.

Wealth Guilt is Real: The wealthy second generation who inherit large fortunes often feel guilty—believing they don't deserve it. Moreover, differing values between generations may lead the next generation to look down upon the way their parents made money.

"The Law of Three Generations of Bankruptcy" is quite heart-wrenching: Rich kids believe that the lifestyle they inherit can last forever, only to discover after their parents pass away that they have to pay inheritance tax, and then divide it by the number of siblings. Suddenly, their wealth diminishes, and if they want to maintain their quality of life, they have to budget very carefully.

Taxes are a daily nightmare: The ultra-wealthy are constantly pondering tax issues. In high-tax states, the marginal tax rate can exceed 50%. This means that a 10% return on investment may leave only 5% in hand. Therefore, their investment strategies are completely different—tending to choose assets that they never have to sell, because once realized, profits could be largely consumed.

Wealth is actually defined by oneself

The final point is worth pondering: being wealthy is not about how many zeros you have in your account, but rather how you define "enough". Some people's wealth goals are to travel the world after retirement, while others want to establish charitable foundations to continually give back to society. As long as it supports the lifestyle and goals that matter most to you, you are wealthy.

Sitting on the front porch rocking chair watching the sunset, leaving the house to the children? That's also a kind of wealth.