Significance Many suggest we are approaching a sixth mass extinction event, and yet estimates of how many species exist, and thus how many might become extinct, vary by as much as an order of magnitude. There are few statistically robust methods to estimate global species richness, and here we introduce several new methods, including one that builds on the observation that larger species are often described before smaller species. We combine these, giving equal weight to each, to provide mean global species estimates for the most speciose order, class, and phylum on Earth, beetles, insects, and arthropods (terrestrial). We attempt to aid conservation planning by broadening the range of methods used and bringing greater stability to global estimates for these taxa. It has been suggested that we do not know within an order of magnitude the number of all species on Earth May RM (1988) Science 241(4872):1441–1449. Roughly 1.5 million valid species of all organisms have been named and described Costello MJ, Wilson S, Houlding B (2012) Syst Biol 61(5):871–883. Given Kingdom Animalia numerically dominates this list and virtually all terrestrial vertebrates have been described, the question of how many terrestrial species exist is all but reduced to one of how many arthropod species there are. With beetles alone accounting for about 40% of all described arthropod species, the truly pertinent question is how many beetle species exist. Here we present four new and independent estimates of beetle species richness, which produce a mean estimate of 1.5 million beetle species. We argue that the surprisingly narrow range (0.9–2.1 million) of these four autonomous estimates—derived from host-specificity relationships, ratios with other taxa, plant:beetle ratios, and a completely novel body-size approach—represents a major advance in honing in on the richness of this most significant taxon, and is thus of considerable importance to the debate on how many species exist. Using analogous approaches, we also produce independent estimates for all insects, mean: 5.5 million species (range 2.6–7.8 million), and for terrestrial arthropods, mean: 6.8 million species (range 5.9–7.8 million), which suggest that estimates for the world’s insects and their relatives are narrowing considerably.