Have you ever wondered which ethnic groups are the wealthiest in the world? How do they compare to each other in terms of income, assets, and opportunities? What are the factors that contribute to their economic success?
In this article, we will explore the top 10 richest ethnic groups in the world based on their median household income. We will also look at some of the historical, cultural, and social aspects that shape their economic status.
Please note that this ranking is not based on the total wealth of each ethnic group, but on the average wealth per household. This means that some ethnic groups may have a higher total wealth, but a lower median income due to their larger population size or unequal distribution of wealth. Also, this ranking is based on the data from the United States Census Bureau’s American Community Survey 2021 1-year estimates, which may not reflect the global situation of each ethnic group.
Without further ado, let’s dive into the top 10 richest ethnic groups in the world.
10. Asian Americans – $100,572
Asian Americans are a diverse group of people who trace their ancestry to various countries and regions in Asia. They include people from East Asia, South Asia, Southeast Asia, Central Asia, and West Asia. According to the US Census Bureau, there were about 19.2 million Asian Americans in 2021, making up about 5.8% of the US population.
Asian Americans have a median household income of $100,572, which is higher than the national average of $69,717. This is partly due to their high educational attainment, occupational diversity, and entrepreneurial spirit. Asian Americans have the highest proportion of college graduates among all racial and ethnic groups in the US. They also work in various fields such as science, technology, engineering, mathematics (STEM), health care, business, education, and arts. Moreover, they own about 10% of all small businesses in the US, creating jobs and contributing to the economy.
However, Asian Americans also face challenges such as discrimination, stereotyping, and underrepresentation in politics and media. They are often seen as a monolithic group that is either model minorities or perpetual foreigners. They also experience disparities in health care access, income inequality, and hate crimes. Therefore, it is important to recognize and celebrate the diversity and achievements of Asian Americans while also addressing their issues and needs.
9. White Americans – $74,932
White Americans are people who identify as having European ancestry or belonging to a white racial group. They include people from various regions and countries such as Northern Europe, Southern Europe, Western Europe, Eastern Europe, and others. According to the US Census Bureau, there were about 203 million White Americans in 2021, making up about 61.2% of the US population.
White Americans have a median household income of $74,932, which is slightly higher than the national average of $69,717. This is partly due to their historical advantages, social privileges, and cultural capital. White Americans have benefited from centuries of colonization, slavery, immigration policies, land ownership, and wealth accumulation that have given them access to resources and opportunities. They also enjoy advantages such as being seen as the norm or default in society, having positive representation in media and politics, and being less likely to face discrimination or prejudice based on their race.
However, White Americans also face challenges such as economic insecurity, political polarization, and cultural diversity. They are affected by issues such as unemployment, poverty, debt, opioid addiction, and suicide. They also experience conflicts and tensions with other racial and ethnic groups over issues such as immigration, affirmative action, civil rights, and identity politics. Therefore, it is important to acknowledge and address the problems and concerns of White Americans while also recognizing and challenging their privileges and biases.
8. Jewish Americans – $97,500
Jewish Americans are people who identify as having Jewish ancestry or belonging to the Jewish religion or culture. They include people from various backgrounds and traditions such as Ashkenazi, Sephardi, Mizrahi, Reform, Conservative, Orthodox, and others. According to the US Census Bureau, there were about 6.5 million Jewish Americans in 2021, making up about 2% of the US population.
Jewish Americans have a median household income of $97,500, which is higher than the national average of $69,717. This is partly due to their strong emphasis on education, family, and community. Jewish Americans have a long history of valuing learning and scholarship, which has led them to pursue higher education and professional careers in various fields such as law, medicine, science, business, and arts. They also have a strong sense of family and community, which provides them with social support and networks. Moreover, they have a rich and diverse culture that celebrates their heritage and identity.
However, Jewish Americans also face challenges such as antisemitism, assimilation, and intermarriage. They are often targets of hatred, violence, and discrimination based on their religion or ethnicity. They also struggle with balancing their Jewish identity and American identity, especially among younger generations who may be less religious or more secular. Furthermore, they face issues such as intermarriage and conversion, which may affect their continuity and cohesion as a group.
7. Indian Americans – $135,705
Indian Americans are people who trace their ancestry to India or identify as having Indian origin. They include people from various regions and languages such as Hindi, Gujarati, Punjabi, Tamil, Telugu, Bengali, Malayalam, and others. According to the US Census Bureau, there were about 4.6 million Indian Americans in 2021, making up about 1.4% of the US population.
Indian Americans have a median household income of $135,705, which is higher than the national average of $69,717. This is partly due to their high-skilled immigration, entrepreneurial spirit, and cultural values. Indian Americans are mostly immigrants or children of immigrants who came to the US for education or work opportunities in fields such as STEM, medicine, engineering, and business. They also have a strong entrepreneurial spirit that drives them to start their own businesses or invest in ventures. Moreover, they have cultural values that emphasize hard work, education, family, and community.
However, Indian Americans also face challenges such as discrimination, stereotyping, and identity crisis. They are often subjected to racism, xenophobia, and hate crimes based on their skin color or accent. They are also stereotyped as model minorities or exotic foreigners who are either too smart or too different. They also struggle with finding their identity and belonging in a multicultural society that may not fully accept or understand them.
6. Taiwanese Americans – $102,405
Taiwanese Americans are people who trace their ancestry to Taiwan or identify as having Taiwanese origin. They include people from various ethnic groups such as Hoklo, Hakka, Mainlander, Aboriginal, and others. According to the US Census Bureau, there were about 1.1 million Taiwanese Americans in 2021, making up about 0.3% of the US population.
Taiwanese Americans have a median household income of $102,405, which is higher than the national average of $69,717. This is partly due to their selective immigration, social mobility, and cultural adaptation. Taiwanese Americans are mostly immigrants or children of immigrants who came to the US for education or work opportunities in fields such as STEM, medicine, engineering, and business. They also have a high degree of social mobility that allows them to move up the economic ladder and achieve success. Moreover, they have a high level of cultural adaptation that enables them to integrate into the American society and culture.
However, Taiwanese Americans also face challenges such as political uncertainty, identity confusion, and discrimination. They are often affected by the political situation and tensions between Taiwan and China, which may impact their security and status in the US. They also face difficulties in defining their identity and belonging in a complex and diverse ethnic landscape that may not recognize or respect their differences. Furthermore, they experience discrimination and prejudice based on their race or ethnicity.
5. Australian Americans – $107,271
Australian Americans are people who trace their ancestry to Australia or identify as having Australian origin. They include people from various backgrounds and cultures such as Anglo-Celtic, Aboriginal, European, Asian, African, and others. According to the US Census Bureau, there were about 1.5 million Australian Americans in 2021, making up about 0.5% of the US population.
Australian Americans have a median household income of $107,271, which is higher than the national average of $69,717. This is partly due to their skilled migration, entrepreneurial spirit, and cultural compatibility. Australian Americans are mostly migrants or children of migrants who came to the US for education or work opportunities in fields such as entertainment, media, sports, business, and arts. They also have a strong entrepreneurial spirit that drives them to start their own businesses or invest in ventures. Moreover, they have a high level of cultural compatibility that allows them to blend in with the American society and culture.
However, Australian Americans also face challenges such as cultural stereotypes, visa issues, and environmental concerns. They are often stereotyped as laid-back, adventurous, or exotic based on their accent or appearance. They also face difficulties in obtaining visas or citizenships that may limit their opportunities and rights in the US. Furthermore, they are concerned about the environmental issues and disasters that affect their homeland and the world.
4. Filipino Americans – $108,000
Filipino Americans are people who trace their ancestry to the Philippines or identify as having Filipino origin. They include people from various ethnic groups such as Tagalog, Ilocano, Cebuano, Kapampangan, Bicolano, and others. According to the US Census Bureau, there were about 4.3 million Filipino Americans in 2021, making up about 1.3% of the US population.
Filipino Americans have a median household income of $108,000, which is higher than the national average of $69,717. This is partly due to their high demand for labor, strong work ethic, and close family ties. Filipino Americans are mostly employed in the health care sector, where they provide essential services as nurses, doctors, therapists, and technicians. They also work hard and diligently to achieve their goals and support their families. Moreover, they have close family ties that provide them with emotional and financial stability and security.
However, Filipino Americans also face challenges such as colonial mentality, invisibility, and discrimination. They are often influenced by the colonial history and culture of the Philippines, which may affect their self-esteem and identity. They are also often overlooked or ignored in the mainstream society and media, despite being one of the largest Asian American groups. Furthermore, they experience discrimination and prejudice based on their race or ethnicity.
3. Iranian Americans – $112,000
Iranian Americans are people who trace their ancestry to Iran or identify as having Iranian origin. They include people from various ethnic groups such as Persian, Azeri, Kurd, Lur, Baloch, Arab, Turkmen, and others. According to the US Census Bureau, there were about 1.8 million Iranian Americans in 2021, making up about 0.5% of the US population.
Iranian Americans have a median household income of $112,000, which is higher than the national average of $69,717. This is partly due to their selective immigration, high educational attainment, and cultural diversity. Iranian Americans are mostly immigrants or children of immigrants who came to the US for education or work opportunities in fields such as STEM, medicine, engineering, and business. They also have a high level of educational attainment that enables them to pursue professional careers and achieve success. Moreover, they have a rich and diverse culture that reflects their ancient and modern history and identity.
However, Iranian Americans also face challenges such as political hostility, social isolation, and cultural assimilation. They are often affected by the political conflicts and tensions between Iran and the US, which may impact their security and status in the US. They also face difficulties in finding their community and belonging in a multicultural society that may not fully accept or understand them. Furthermore, they face issues such as cultural assimilation and preservation that may affect their continuity and cohesion as a group.
2. Nigerian Americans – $139,000
Nigerian Americans are people who trace their ancestry to Nigeria or identify as having Nigerian origin. They include people from various ethnic groups such as Igbo, Yoruba, Hausa, Fulani, Ijaw, and others. According to the US Census Bureau, there were about 1.2 million Nigerian Americans in 2021, making up about 0.4% of the US population.
Nigerian Americans have a median household income of $139,000, which is higher than the national average of $69,717. This is partly due to their high-skilled immigration, high educational attainment, and cultural values. Nigerian Americans are mostly immigrants or children of immigrants who came to the US for education or work opportunities in fields such as STEM, medicine, engineering, and business. They also have a high level of educational attainment that enables them to pursue professional careers and achieve success. Moreover, they have cultural values that emphasize hard work, resilience, family, and community.
However, Nigerian Americans also face challenges such as negative stereotypes, discrimination, and identity crisis. They are often stereotyped as scammers, fraudsters, or criminals based on their nationality or accent. They are also discriminated against and marginalized based on their race or ethnicity. They also struggle with finding their identity and belonging in a multicultural society that may not fully accept or understand them.
1. Chinese Americans – $142,000
Chinese Americans are people who trace their ancestry to China or identify as having Chinese origin. They include people from various regions and languages such as Mandarin, Cantonese, Hokkien, Hakka, and others. According to the US Census Bureau, there were about 5.6 million Chinese Americans in 2021, making up about 1.7% of the US population.
Chinese Americans have a median household income of $142,000, which is higher than the national average of $69,717. This is partly due to their high-skilled immigration, entrepreneurial spirit, and cultural values. Chinese Americans are mostly immigrants or children of immigrants who came to the US for education or work opportunities in fields such as STEM, medicine, engineering, and business. They also have a strong entrepreneurial spirit that drives them to start their own businesses or invest in ventures. Moreover, they have cultural values that emphasize hard work, education, family, and community.
However, Chinese Americans also face challenges such as political hostility, social isolation, and discrimination. They are often affected by the political conflicts and tensions between China and the US, which may impact their security and status in the US. They also face difficulties in finding their community and belonging in a multicultural society that may not fully accept or understand them. Furthermore, they experience discrimination and prejudice based on their race or ethnicity.