Over 600,000 American Millennial Millionaires


Baby Boomers currently hold most of the wealth in the U.S. - but a study conducted by Coldwell Banker says Millionaire Millennials are on the rise with over 600,000 in their ranks.Many live in Texas. Most live in California according to a new study from Coldwell Banker. Surprisingly, the most popular zip code for these wealthy young adults is in Ann Arbor, Michigan. Real estate mogul and millennial millionaire himself Danny Hertzberg explains why. "You have universities close by and a beautiful landscape in that area. The natural aesthetics of an area are important to millennials and I don’t see that changing.”

The company's CEO Charlie Young says "Millennial millionaires are projected to become one of the richest and most influential generations in history.” Hertzberg says he, like most of his wealthy millennial clients, did not inherit his fortune. “I think a minority of them inherited their money. The majority of them have accrued their wealth from a mix of entrepreneurial, finance and technology.”

He says having millennial traits like interest in his community and volunteering has helped him meet a wide range of people which is good for any career. 

Add to that they are expected to inherit over $68 trillion in coming years and you have a very powerful

Businessman Playing With Paper Currency While Sitting On Chair In Office

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