Wealth creation continues to be a subject many people are enthusiastic about, yet few truly understand how to turn ambition into lasting success. If you want to make it big as an investor or accumulate substantial wealth, this post takes a closer look at one of the most elusive categories of wealth—the decamillionaire.
What is a Decamillionaire?
A decamillionaire is an individual with a net worth of at least 10 million in a given currency, most often U.S. dollars, euros, or pounds sterling. The word is derived from two roots: deca, meaning 10 in Greek, and millionaire, someone with a net worth of at least one million. While $10 million may seem unattainable to most, it is increasingly reachable for those with a solid financial foundation and a clear roadmap to success.
Facts About Decamillionaires
Decamillionaires remain rare, but their numbers are growing. The global millionaire population exceeded 65 million, with a significant share crossing into the $10M+ bracket. The United States continues to dominate, though migration trends are reshaping where wealth is concentrated. The UK, for example, lost 16,500 millionaires in 2025, many of whom were decamillionaires relocating to tax-friendly regions such as Switzerland, Spain, and Dubai.
Asset composition remains similar to earlier IRS studies: publicly traded stock, business ownership, and real estate dominate portfolios. However, alternative assets such as private equity and digital investments are becoming more common.
How Can You Become a Decamillionaire?
Classic studies still hold true. Ken Fisher’s framework outlines ten paths to wealth, ranging from founding a firm to investing wisely. Lisa A. Keister’s sociological research continues to show that the very rich concentrate heavily in financial and business assets. In short, the most direct path remains: own businesses, accumulate stock, and diversify strategically.
Do You Have the Personality?
Research continues to show that high-net-worth individuals share distinct personality traits. Compared to the general population, decamillionaires are more emotionally stable, extroverted, open to new experiences, and conscientious. They also tend to have a strong locus of control, believing in their own ability to shape outcomes, and are less likely to blame others for failure. These traits, combined with disciplined investing and business ownership, remain the psychological backbone of wealth creation.
Case Studies of Decamillionaires
- Tech Founders Relocating: Several U.S. entrepreneurs who crossed the $10M threshold in 2024 moved operations to Dubai, attracted by 0% capital gains tax and global connectivity.
- European Migration: The UK’s loss of 16,500 millionaires in 2025 highlights how tax regimes drive relocation, with Switzerland and Spain emerging as preferred destinations.
- Generational Wealth: UBS’s 2025 Global Wealth Report shows “Everyday Millionaires” scaling into decamillionaire status through disciplined stock ownership and family business succession.
Tax Tips for High-Net-Worth Individuals
Tax planning is more crucial than ever, with new legislation and IRS scrutiny reshaping strategies. Key approaches include:
- Maximize retirement accounts: Contribution limits for 401(k)s, IRAs, and HSAs increased in 2025.
- Charitable giving: Donor-advised funds and lifetime gifts reduce taxable income.
- Trusts & estate planning: Family trusts protect assets and reduce estate taxes.
- Tax-loss harvesting: Offset gains with losses to minimize exposure.
- Asset location: Place tax-inefficient investments in tax-deferred accounts, while keeping equities in taxable accounts.
In 2025, becoming a decamillionaire is less about luck and more about strategy. Build businesses, invest heavily in equities, relocate or structure assets to optimize taxes, and cultivate resilience and conscientiousness. The definition of a deca millionaire remains the same, but the roadmap now includes global mobility and sharper tax planning.
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The post Everything You Always Wanted To Know About Decamillionaires, But Were Afraid To Ask appeared first on Thousandaire.
