The United States saw a remarkable increase in wealth last year, with more than 379,000 people becoming new millionaires in U.S. dollars. This means over 1,000 new millionaires were created each day, according to the 2025 Global Wealth Report by UBS released on Wednesday.
Globally, private individuals’ net worth grew by 4.6%, but in the Americas, it rose over 11%, largely due to a strong U.S. dollar and positive financial markets. The U.S. alone accounted for nearly 40% of all millionaires worldwide in 2024.
In 2023, Europe, the Middle East, and Africa led a recovery in global wealth after a decline in 2022. Meanwhile, Greater China—which includes mainland China, Hong Kong, and Taiwan—had the highest share of individuals with net worth between $100,000 and $1 million, making up 28.2%. Western Europe followed with 25.4%, and North America with 20.9%.
Despite these gains, over 80% of adults globally had a net worth below $100,000. Only about 1.6% of people worldwide had a net worth of $1 million or more. UBS projects that average wealth per adult will continue to grow over the next five years, led mainly by the United States and, to a lesser extent, Greater China.
This surge in wealth highlights the growing concentration of millionaires in the U.S., driven by stable currency and thriving markets, while most of the world’s population remains below the millionaire threshold.
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