quite many early adopters sit on thousands of coins
they cash out, as soon as it makes them millionaires
Or (as I keep hearing over and over from early adopters who mined when they were worth nothing) most of those coins were deleted inadvertently, through formats of the hard drive, etc.
I know of at least one early adopter who has 250k coins, but beyond that, I am not certain who else holds a large number of them still.