The Bay Area is one of the most expensive parts of the United States and $10M still means you own half a dozen houses. I’d say that’s reasonably “wealthy” from the perspective of the majority of the population who struggle to afford even one.

https://vitalsigns.mtc.ca.gov/indicators/home-values

Anyone who owns two $500k houses is wealthy in 2026. I used to own two worth less than that and didn’t consider myself wealthy, but I was by the statistics.