2. The Next Millionaires—
Wellness Entrepreneurs
If you are an entrepreneur, or considering becoming one in wellness, there has never been a better time in history to own your own business.
When I was growing up in the 1950s, millionaires were fictional characters on television shows like
The Millionaire or in comic strips like
Little Orphan Annie. Nobody actually knew or saw a millionaire. Even on the
The Millionaire the "millionaire" John Beresford Tipton never appeared on camera. I remember asking my dad to go out to dinner and hearing his reply: "What do you think we are, millionaires?"
But by 1991, the amazing U.S. economy had spawned 3.6 million U.S. households that had a net worth of $1 million or more. Then, in just the next 10 years, the number of millionaire households doubled to 7.2 million. It took the U.S. economy 215 years to create the first 3.6 million millionaire households, and then just 10 years to create 3.6 million more.
As explained and predicted in my 1991 book
Unlimited Wealth, what happened in the 1990s was the beginning of a 40-year period of international economic growth. From 1991 to 2001 U.S. household wealth tripled—from $13 trillion to $40 trillion—and a similar expansion occurred in every developed nation except Japan.
There have always been periods of economic growth and wealth accumulation, but in the past this often meant that the rich got richer and the ordinary person didn't stand a chance. What was so unique about the 1990s was the enormous number of new households that shared in this wealth. But the 1990s were only the beginning:
The 1990s were the beginning of a period that will be known one day as The Democratization of Wealth, not just in the United States, but in every nation from China to Europe.
As you will see in this book, because of fundamental changes in the world economy, in technology, and in new legislation favoring the individual over the organization, we are just beginning a period of democratization of wealth that would make Karl Marx stand up and cheer. But even Marx couldn't have fathomed what is happening today—for we are not taking from the rich and giving to the poor, we are creating new wealth in which everyone who chooses to can share.
Today, more than 10 million U.S. households have a net worth of $1 million or more. By 2016, there will be 20 million U.S. millionaire households. Each household represents approximately 2.5 people, meaning that 50 million Americans will soon live in a household with a net worth of $1 million or more.
Number of U.S. Millionaires 1991-2016
| | 1991 | 2001 | 2006 | 2016 (predicted) |
|---|
| Number of millionaire households | 3.6 million | 7.2 million | 10 million | 20 million |
| Number of Americans living in a millionaire household | 9 million | 18 million | 25 million | 50 million |
| U.S. household wealth | $13 trillion | $40 trillion | $60 trillion | $100 trillion |
Millionaires are the fastest growing minority in the United States and the developed world today.
And as you will see throughout this book, as people become millionaires, or just increase their wealth on the way to becoming one, the most important thing they desire with their newfound wealth is wellness.
The more people increase their wealth, the greater proportion of their income they spend on wellness.
