The U.S. created over 379,000 new millionaires in 2024, but while the super-rich surged ahead, more than 80% of adults globally remained below $100,000 in net worth.
At a Glance
- UBS’s 2025 Global Wealth Report found over 379,000 new U.S. dollar millionaires in the U.S. last year—averaging more than 1,000 per day
- Global private wealth rose 4.6%, with the Americas growing over 11% amid strong markets and a stable U.S. dollar
- Nearly 40% of the world’s millionaires now live in the U.S.
- Mainland China, Western Europe, and North America led the $100K–$1M wealth bracket, with Greater China at 28.2%
- Despite gains, over 80% of adults globally have net worths below $100,000, while just 1.6% are millionaires
Why the U.S. Wealth Surge Soared
The U.S. added more than 1,000 new millionaires per day in 2024, according to Reuters. Driven by a booming stock market, a strong dollar, and easing inflation, the U.S. was the global engine of private wealth creation. The S&P 500 gained 25% in 2024 following a 26% jump in 2023, fueling equity and asset-based growth, as Business Insider reported.
UBS noted that North American private wealth grew over 11%—more than double the global rate of 4.6%. The U.S. now accounts for nearly 40% of all global millionaires, with roughly 24 million individuals crossing the million-dollar threshold, according to Investopedia.
What’s Next for Global Wealth
While the U.S. dominates in raw millionaire numbers, regions like Greater China and Western Europe lead in the $100K–$1M wealth bracket. As Economic Times reported, Greater China held 28.2% of this tier, Western Europe 25.4%, and North America 20.9%.
Still, inequality is stark. UBS highlighted that more than 80% of adults globally remain below $100,000 in net worth, and just 1.6% qualify as millionaires. According to the Times of India, average global wealth is forecast to continue rising, with the U.S. and China driving gains in the coming five years.
Risks Facing the Wealth Boom
While the wealth boom shows no signs of stopping, it faces serious risks. Market corrections, dollar volatility, and widening inequality could destabilize gains. Heavy reliance on financial assets for wealth growth also exacerbates barriers for middle- and lower-income groups.
With wealth increasingly concentrated at the top, pressure is mounting on policymakers to address inequality through taxation and financial inclusion. If left unchecked, today’s wealth surge could reshape not only economic policy but the social fabric of both the U.S. and the world.
