Have you ever imagined earning a salary of eight figures per year? That might make you wonder: how much is 8 figures really? And how did you make that much money?
Income inequality is widespread throughout the world. Individuals from various walks of life may be seen earning varying amounts of money from various sources. Some earn four or five figures, while others earn six, seven, eight, nine, or even ten figures.
When people discuss their annual salary or wages, they use numerical figures. But, have you ever wondered what it means when someone says they make eight figures?
If that question has ever occurred to you, this article may be of assistance. Continue reading to learn what an 8-figure income is and how to get one. We will also go over a few methods for making such a large sum of money.
How Much is 8 Figures In Money Terms
There are figures that are now beyond most people’s comprehension!
With an eight-figure income, a multimillionaire would become wealthy. A high-income individual has an annual income of between $10,000,000 (ten million dollars) and $99,999,999.
A person earning $30,000,000 has an eight-figure income. A person earning $90,000,000 has an 8-figure income as well. Thus, you have an 8-figure income if your gross annual income (before taxes) is greater than $10,000,000 but less than $100,000,000.
People with an eight-figure income are multimillionaires, and they may have accumulated their wealth through high-profile, high-paying jobs or a highly profitable business. However, most people can earn this much through multiple income streams such as investment portfolios, stocks, brand endorsements, and so on.
When someone says their income is in the 8 figures, it could refer to a variety of total compensation amounts. At the low end of the spectrum, someone may earn $10,000,000 per year, while someone else may be worth close to $90,000,000 per year.
As a result, not all multimillionaires are created equal. A person who earns close to $99,000,000 earns significantly more than someone who earns close to $10,000,000.
In the following sections, we discussed the various income ranges within an 8-figure income and what it means to have a low, mid, or high 8-figure income.
Who Makes 8 Figures?
Individuals with an eight-figure income are unquestionably the best of the best. These people are so good at what they do that they can amass such wealth. They are probably working in a field where they can make a lot of money for their employers, or they are the employers and making profitable business decisions.
You may have several inspirational stories about multimillionaires or billionaires. The majority of these people are self-made and were fortunate to make a decision that turned things in their favour and allowed them to earn a lot of money.
It is important to note that finding a job that pays an eight-figure salary is extremely difficult, which is why only a small number of people can earn this much. Such wealth is reserved for those at the very top of large-scale organisations, such as unicorn start-up founders, hedge fund managers, or Fortune 500 CEOs.
Some people have a one-of-a-kind and remarkable talent that has made them extremely wealthy. Popular celebrities from the film and music industries, entertainers, successful athletes, and others fall into this category.
Here are a few high-paying jobs that can earn 8 figures a year.
- Tyler Perry made 97 million dollars last year.
- 87.6 million dollars were earned by Dwayne Johnson
- There was $84 million in earnings for Ellen Degeneres.
- Together, the Jonas Brothers earned $68.5 million.
- Sundar Pichai of Alphabet (Google) made $86.1 million in stocks and cash.
- Daniel H. Schulman of PayPal fame took home $37.5 million.
- Disney’s CEO Bob Iger brought home a whopping $65.6 million.
3. Professional Athletes
You might be surprised at how many professional athletes earn eight figures. The evaluation is based on the player’s overall compensation, which includes their salaries, bonuses, and prize money if they win.
Some professional athletes earn more than ten million dollars per year.
- Stephen Curry (NBA) earned $92.8 million
- Kevin Durant (NBA) earned $92.1 million
- Roger Federer (tennis) earned $90.7million
4. Social Media/Influencers
You may already be aware of how the influencer marketing trend has spread so widely. Social media is now more powerful than ever, and many people have used the various platforms to earn large sums of money.
Here are a few people who have only made millions of dollars from YouTube.
- Logan Paul makes comedy videos and earned $35 million.
- Ryan Kaji makes entertaining toy review videos and earned $22 million.
Is An 8-Figure Income Good?
A salary in the eight figures is not only good; it is exceptional. If you earn such a salary, you are one of the few people who have such wealth.
A report estimates that 1,456,336 US households have a net worth of at least $10 million. Only 0.075% of households earn $50 million or more, with the percentage decreasing as you move up the financial ladder.
If you make eight figures, you can easily afford to live a luxurious lifestyle. You can live a very comfortable life unless you are extremely reckless and get caught in a vicious cycle.
Whatever your income, it makes sense to spend and invest wisely so that your hard-earned money does not go to waste and you can build more wealth. Make good use of your money and keep track of everything you spend.
Conclusion – Just How Much Is 8 Figures?
So, how much exactly is 8 figures? It ranges from $10,000,000 to $99,999,999 (nearly $100 million!). If you earned 8 figures per year, your monthly income would range from $833,333 to $8,333,333.
This income is possible if you are in the league of billionaires like Elon Musk, Bill Gates, and others. Earning eight figures would be a fantasy of living a luxurious life unless you’ve hit the lottery by inheriting billion-dollar companies from your late Uncle Scrooge.
However, you could turn this fancy into an inspiring challenge to increase your earning power and eventually find your own financial empowerment, whatever the X-figure is. Maintain your faith!
If you want to learn more about other income levels, check out these related articles:
How Much Is A Figure? 6-Figures, 7-Figures, 8-Figures & 9-Figures?
Frequently Asked Questions (FAQs)
How Much Is 8 Figures A Year?
A yearly income of $8 figures implies a yearly income of between $10,000,000 and $99,999,999. A multimillion-dollar gross income can translate into a seven-figure monthly salary, which is impressive.
How Much Is 8 Figures A Month?
8 figures a month, which is extremely uncommon unless a person is a multibillionaire, refers to an income of $10,000,000 to $99,999,999 per month.
The monthly income would be different, though, if we only assumed an annual income of eight figures. A person would make $5 million a month if they made $60 million a year.
How Much Is 8 Figures A Week?
8 figures a week is a reference to an extremely uncommon income of $10,000,000-$99,999,999 per week.
The weekly income would be different, though, if we only assumed an annual income of eight figures.
For instance, a person making $60 million a year would make $1.15 million per week.
How Much Is 8 Figures A Day?
For instance, a person making $60 million a year would make about $230,769 per day. The 260 working days in a year are the basis for this calculation.