The US added over 379,000 millionaires in 2024, making up nearly 40% of global millionaires, according to UBS’s 2025 Global Wealth Report.
In 2024, more than 379,000 new millionaires were created in the United States, bringing the total number of dollar millionaires to over 1,000 a day. This growth comprised almost 40 percent of the total number of millionaires in the world last year, according to the 2025 Global Wealth Report released by UBS. The US was the primary contributor to the growth of the number of millionaire households in the world due to the good performance of the domestic markets and the stability of the US dollar.
In 2024, private wealth rose by 4.6 percent worldwide. The Americas experienced an 11 percent increment, with the US leading the way. The equity markets performed well, helping to generate wealth in the region. This favorable progress is attributed to the recovery in global wealth after a decline in 2022, with major comebacks in Europe, the Middle East, and Africa in 2023.
Wealth Distribution Across Regions
Greater China was the classification of UBS to refer to mainland China, Hong Kong, and Taiwan. Greater China had the most individuals (28.2 percent of individuals worldwide) in the higher health bracket of the sub-millionaire category, that is, the net worth between 100,000 and 1 million. Western Europe came next with 25.4 percent, and North America took 20.9 percent. These figures illustrate such regional inequality of wealth distribution below the millionaire unit.
Although the number of wealthy people is growing, the report highlights that more than 80 percent of adults worldwide have net worths of less than $100,000. Only 1.6 percent of adult citizens have assets worth over $1 million. Such figures support the continued wealth concentration among a limited number of people.
Future Wealth Growth and Projections
According to UBS, average adult wealth is expected to keep rising in the next five years. The US is projected to dominate this growth, with Greater China gaining. This projection illustrates how wealth accumulation in these regions has been resilient because of the support shown by the economic and financial forces.
The future of the report depends on the further growth of prosperity for most people, yet the gap between regions and wealth levels is significant. Future wealth trends will be affected by the continued performance of the market and the stability of currencies around the world. The dynamics can be seen in detail in the UBS Global Wealth Report to give an overall picture of the world’s patterns of wealth.
