Global Wealth Surge: US Leads with Over 1,000 New Millionaires Daily in 2024
A Remarkable Rise in Millionaires
The United States saw a huge increase in its millionaire population in 2024. The UBS 2025 Global Wealth Report states that the number of millionaires grew by over 379,000. This means more than 1,000 new dollar millionaires were created every day.
Key Highlights
- Almost 40% of the world’s millionaires are in the US.
- Global private wealth went up by 4.6%.
- The Americas saw an 11% increase in wealth.
What’s Driving Wealth Growth?
A stable US dollar and a strong stock market fueled this growth. The US stayed the largest contributor to the rise in millionaire households worldwide.
Global Wealth Bounces Back
This surge follows a broader rebound in global wealth. After a dip in 2022, there was a strong recovery across Europe, the Middle East, and Africa in 2023.
Where is Wealth Distributed?
UBS defined “Greater China” as mainland China, Hong Kong, and Taiwan. In the sub-millionaire wealth bracket, Greater China led with 28.2%. Western Europe followed at 25.4%, and North America at 20.9%.
Global Wealth Facts
- Over 80% of global adults have a net worth below $100,000.
- Only about 1.6% have net wealth of $1 million or more.
Looking Ahead
UBS predicts that average adult wealth will likely keep increasing over the next five years. This growth will be led by gains in the United States, followed by Greater China.
