Millionaire Candy

If you want to feel like a million bucks, just try a piece of rich, indulgent millionaire candy. A homemade version of the nostalgic Texas treat, this millionaire candy recipe features a buttery, pecan-studded caramel covered with milk chocolate. The candy is similar to millionaire shortbread bars, except it has nuts instead of a shortbread cookie base.

Because it makes a big batch, this is one of the candy recipes we use as a holiday food gift for family and friends. Of course, you can also just stash them in the cupboard to satisfy your sweet tooth night after night.

Making caramel from scratch can sometimes be intimidating, but this recipe makes the process easy. Simmering the sugars with butter and evaporated milk develops the flavor of the caramel while preventing the sugar from scorching. Corn syrup keeps the texture perfectly smooth and creamy. Once done, all that’s left is to create the clusters of caramel, pecans and chocolate!

Where did millionaire candy originate?

Chocolate-covered caramel-pecan millionaire candy was invented in 1914 by H.T. Pangburn, a chemist who owned a drug store and an ice cream factory in Fort Worth, Texas. After creating the recipe, he opened a candy factory and sold Millionaires in his stores. They quickly became a favorite Southern dessert. Chocolate giant Russell Stover eventually purchased the trademark name and candy recipe, and you can still buy boxes of Pangburn Millionaires today.

Ingredients for Millionaire Candy

• Butter: Everything tastes better with butter—especially homemade caramel! Use the best butter to give your candy the best flavor.
• Evaporated milk: Milk gives caramel a softer texture and richer flavor. The cooking process gives evaporated milk notes of caramel, making it perfect for this candy.
• Sugar: Regular granulated sugar is one of the sweeteners in the caramel base. As it dissolves and cooks, the sugar browns and turns into thick caramel.
• Brown sugar: Brown sugar gives this gooey caramel layer a deeper, more butterscotch-like flavor than caramel made with white sugar alone. You can soften brown sugar in the microwave if it’s too hard to scoop.
• Corn syrup: When added to caramel, corn syrup helps the mixture stay smooth when it reaches temperature. It also makes cooking caramel easier by preventing the formation of sugar crystals that can turn it grainy.
• Pecans: You can buy chopped pecans or you can chop nuts yourself with a food processor or an apple corer. Pecans are naturally sweet, which is why they’re often paired with caramel (like in a classic pecan pie).
• Milk chocolate candy coating: Also known as melting wafers, these chocolaty candies melt smoothly and have a shine once they dry. Look for bags of melting chocolate in stores, with the cake decorating supplies.
• Vanilla extract: Use your best vanilla extract or even a homemade version, but avoid imitation varieties.
• Salt: Our recipe has just a bit of salt to enhance the flavors in the candies. If your chopped pecans are salted, you can omit this extra salt.

Directions

Step 1: Prepare the pans

Grease four baking sheets with 2 tablespoons of butter, then set the sheets aside.

Editor’s Tip: Instead of greasing the baking sheets with butter, you can line them with wax or parchment paper for easier clean-up. Get them ready before cooking the caramel, and have a candy or digital thermometer ready by the stove—it’s an indispensable candy-making tool to bring the mixture to the correct temperature.

Step 2: Make the caramel

In a large heavy saucepan, combine the evaporated milk, sugar, brown sugar, corn syrup, salt and the remaining cup of butter. Bring the mixture to a boil while stirring it frequently. Cook the caramel over medium heat, stirring occasionally, until a candy thermometer reads 238°F (the soft-ball stage).

Step 3: Form the candy

Remove the pan from the heat and stir in the pecans and vanilla extract. Drop tablespoonfuls of the pecan caramel onto the greased baking sheets. Let the candies stand until they’ve set.

Step 3: Drizzle the chocolate

Drizzle the melted candy coating over the clusters, then refrigerate them for 10 minutes or until they’ve set. Store the candies in airtight containers.

Editor’s Tip: You can melt chocolate candy coating in a double boiler or the microwave.

Taste Recipes

Recipe Variations

• Add some spice: Stir cinnamon, ground nutmeg or cardamom into the caramel mixture to give the candies a holiday spice flavor.
• Go with other mix-ins: Dried fruit or coconut can give these candies a ton of extra flavor and texture.
• Try other nuts: Pecans with caramel are so delicious, but other nuts are tasty, too. Try chopped macadamias, almonds, hazelnuts or peanuts.
• Use real chocolate: Instead of candy coating, you can make this millionaire candy recipe with real chocolate: milk, dark or white. To give it a shiny luster, temper the chocolate in the microwave or on the stove first.
• Gild the lily: Make this a batch of billionaire candy by adding gold flakes or gold dust to the top of the candy.

How to Store Millionaire Candy

One of the best things about millionaire candies is that they’re easy to pack and give as gifts. Once the candies are completely cool and set, transfer them to an airtight container. You can also divide them between several small containers and add decorative gift packaging materials. Separate the layers of candies with wax or parchment paper. Cover the containers tightly and store the candies at room temperature.

How long does millionaire candy last?

The candies will last for up to one week when stored in a tightly sealed container. However, once your household knows you’ve made them, you’ll find that millionaire candy disappears rather quickly!

Millionaire Candy Tips

Taste Recipes

Can you use store-bought caramel to make millionaire candy?

Although the caramel in this recipe isn’t tricky to make, you can save time by using store-bought caramel instead. Look for wrapped, soft caramel candies or blocks from baking stores. Melt the caramel in a saucepan set over low heat, stirring until it’s smooth. Add the pecans and vanilla extract, then continue with the recipe.

How should you melt chocolate when making millionaire candy?

You can melt the candy coating using the same methods as melting chocolate: in the microwave or on the stove in a double boiler. Be careful not to overheat the candy coating, which can make it seize and turn grainy. The candy coating is ready to use once it’s just melted and smooth.

How do I know if my candy thermometer is working correctly?

It’s a good idea to test your candy thermometer before using it in this recipe—not when cooking your caramel! (This is a common candy-making mistake.) To test your thermometer, boil a small pan of water and insert the thermometer into the water. It should read 212°. If the thermometer is off, adjust the recipe temperature based on the test. Remember that while a few degrees difference is manageable, a thermometer that’s way off the mark is best discarded and replaced with a new one.