Do Billionaires Still Collect Social Security? The Answer Might Surprise You

We're not the only ones who are unlikely to collect maximum benefits.Do billionaires get to collect Social Security benefits? You might not like the answer, which is yes. Yes, billionaires collect Social Security. But there's more to know about this topic. First off, the reason that many billionaires will collect Social Security benefits is the same reason that most of us will collect Social Security benefits: Because they paid into the system via taxes on their income. Image source: Getty Images. Qualifying for Social Security It's fairly easy to qualify for Social Security benefits -- though it's quite difficult to earn the maximum benefit, which was recently $5,251 per month, or about $63,000 annually. (The recent average monthly benefit check, as of January, was $2,075 -- or nearly $25,000 for the year.) To be eligible for benefits, you need to earn a total of 40 credits, and you can earn one in each quarter of a year. The value of each credit is updated annually, and for 2026, it's $1,890. So for most workers, it's rather fairly easy to qualify over a decade of working. In 2026, for example, four credits would amount to only $7,560 in earnings for the year. Most of us, including billionaires, will therefore qualify. Some billionaires cannot collect Social Security While qualifying is fairly easy, some billionaires still won't be eligible for Social Security benefits if they don't have earnings that count. The earnings that count are from work that is taxed for Social Security. So if your income comes from, say, dividends on a stock portfolio, or from an inheritance or gambling winnings, that's not going to qualify you. Remember, too, that many billionaires started out as people of modest or ordinary net worth, working jobs. But somewhere along the way, they got rich. At that point, they may not have had earned income. If so, then they'll be collecting smaller benefit checks -- because to maximize your benefits, you will need 35 years of earned income, and the higher that income, the better. Also, remember that maximum benefit of $5,251. It also assumes 35 years of earnings, with each year hitting the earnings cap. So we can safely assume that while few of us will attain that maximum benefit, plenty of billionaires won't be able to attain it, either. Beefing up Social Security You probably know that Social Security's coffers are running dry. One proposed way to shore it up is taxing the rich more. Right now, there's an earnings cap, beyond which workers are not taxed for Social Security. It's adjusted annually and for 2026, the cap is $184,500. We are all taxed for Social Security on the first $184,500 we earn. If we earn $100,000, all that is taxed for Social Security. If we earn $1,184,500, a full million dollars of our earnings goes untaxed. If we change the rules to tax all income equally, Social Security's coffers would benefit. Another suggested reform is means-testing Social Security, so that benefits are withheld from those who do not need them. None of us shouldn't be planning to rely mainly on Social Security in retirement. Instead, develop a solid retirement plan, perhaps starting by figuring out how much you'll need in retirement and how you'll get it.Read NextFeb 16, 2026 •By Christy Bieber3 Rules All Retirees Must Know About Working While Collecting Social SecurityFeb 16, 2026 •By Maurie BackmanRetirees, Don't Make This Costly RMD MistakeFeb 16, 2026 •By Dana GeorgeWhat It Took for My Husband and I to Go from Nothing to Enough to RetireFeb 16, 2026 •By Dana GeorgeWhy These Northeast Destinations Are Winning Over Retirees Seeking Quiet, Safety, and ComfortFeb 16, 2026 •By Maurie Backman3 Social Security Rules Many Retirees Ignore (and Regret)Feb 16, 2026 •By Dana GeorgeI'm Taking a Mortgage into Retirement. Here's Why I'm Good With That.About the AuthorSelena Maranjian is a contributing personal finance and investing expert at The Motley Fool. Selena has produced The Motley Fool’s nationally syndicated newspaper feature since 1997. She is the author of The Motley Fool Money Guide and Investment Clubs: How to Start and Run One the Motley Fool Way, and the co-author of The Motley Fool Investment Guide for Teens and several editions of The Motley Fool Investment Tax Guide. Prior to The Motley Fool, she worked as a high school teacher and public opinion analyst. She holds a master’s degree in teaching from Brown University and a master’s degree in finance from the Wharton School of the University of Pennsylvania.TMFSelena