Main‑Street Millionaires Are Everywhere

Linked tax and business records show that a large share of America's wealthy are private, pass‑through business owners — doctors, HVAC chains, paper distributors, convenience‑store owners — not just tech founders. The authors estimate ~3 million such 'Main Street Millionaires' with average wealth near $25M, collectively dwarfing visible billionaire lists. — This reframes debates about inequality, taxation, and political influence by shifting attention from headline tech billionaires to widespread, locally embedded private wealth that shapes communities and policy preferences.