Coldwell Banker Bozeman Properties

Bozeman Area Happenings

Millionaires vs. Demi-Billionaires


Wealth in 2018
Posted: September 27, 2018 by Danielle Hage



In the last few years, an unprecedented rise in the
number of millionaires, multi-millionaires and even
demi-billionaires has led to greater fragmentation
of high-net-worth and ultra high-net-worth individuals.
Wealth has spread across generations, genders and borders.
These individuals are diverse, and they can no longer be defined
by a single persona. These shifts have created a complicated
new reality for luxury real estate professionals, who
want and need to reach and understand affluent
clients of all ages and in all stages of wealth.
For this reason, the Coldwell Banker Global
Luxury® program collaborated with WealthEngine
to conduct research among U.S. millionaires
and demi-billionaires for a special supplement to
the 2018 edition of “The Report.”  WealthEngine
analyzed many aspects of the millionaire and demibillionaire
lifestyles, including wealth creation, property investments,
luxury spending trends 
and more, to shed light on wealth in this country.
According to Craig Hogan, vice president of luxury
for Coldwell Banker Real Estate LLC, the goal is
to arm Coldwell Banker Global Luxury Property
Specialists with powerful wealth intelligence so
they can maintain a competitive edge in an
affluent marketplace that’s becoming increasingly diversified.

“High-net-worth clients demand and
expect a personal, hands-on, bespoke
marketing experience from their real
estate advisors — so we want to position
Global Luxury Property Specialists to be
ahead of the game,” Hogan notes. 

Analysis by WealthEngine and the Coldwell Banker Global Luxury ®
program compares the 
attitudes and preferences of a diversifying
class of affluent individuals.




Today, there are approximately 32 million millionaires —
defined as those with a net worth of $1 million or 
greater
— living in the United States, and they make up approximately 7%
of the country’s adult population.  
The millionaire population has
increased exponentially since the 1980s and is expected to
grow in the years 
ahead. This unprecedented rise has created
an ever-diverse affluent population with lifestyles, savings and 
buying patterns that vary widely from age to age, place to place
and even person to person.  Some seek 
out experiences and travel;
others are traditional hard-goods buyers and collectors.
Some millionaires are 
eco-conscious, while others are
status-conscious, heavily influenced by social media.  
Like millionaires, the number of demi-billionaires —
defined as those who have over $500 million in assets 
— has also grown.  Today, there are approximately 1,770 demi-billionaires
living in the United States.  They 
account for 0.001% of the nation. 



A modern-day millionaire will most commonly
be between the ages of 50 and 80, with 28.34%
between 60 and 70 years of age, and 24% are
between 70 and 80 years of age. Younger
millionaires are a much smaller but growing group.
Only 6.74% of millionaires are aged between
40 and 50, and an even smaller percentage are
considered millennials.  Among demi-billionaires,
the most common age 
group is also the 60 to 70 year olds.
However, 
there’s a larger percentage of people in this group
than there are in the millionaire sector. Ten percent
are between the ages of 40 and 50, while nearly
4% are between the ages of 30 and 40.

“Luxury real estate professionals must
consider the fact that older generations of
millionaires possess more current wealth
and higher spending power, but younger
millionaires have tremendous spending
potential and will have an impact on growth
over the long run,” says Hogan. 



While millionaires and demi-billionaires represent only a small
fraction of the U.S. population, they are 
true influencers and market
leaders whose preferences and spending habits affect the entire economy.
This class of individuals is more diverse now than at any other
time in history, opening exciting new 
opportunities for
Global Property Specialists who understand the unique nuances
of their clients and 
prospects. Such emphasis on personalization
will differentiate those professionals who succeed from 
those who do not.

“Today’s luxury real estate marketing is not one-size-fits-all,” says Hogan.
“Personalization isn’t just a talk 
track.  It’s critically important to know
your client and personalize your engagement as much as possible.
We believe that tailoring the brand experience to each contextual
client journey will enhance long-term 
brand loyalty in the end.” 

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