CASHING IN

U.S. Mints Over 1,000 Millionaires Every Day for a Year as Private Wealth Surges

America is now home to almost 40 percent of the world’s millionaires.

Over 379,000 people in the U.S. became dollar millionaires last year, equivalent to more than 1,000 every day, according to a new report. The 2025 Global Wealth Report from UBS found that the net worth of private individuals surged by 4.6 percent globally in 2024, with the Americas experiencing an 11 percent increase, driven by strong financial markets and a stable dollar. The U.S. now accounts for nearly 40 percent of the world’s millionaires, the report noted. Meanwhile, “Greater China,” which the report defines as mainland China, Hong Kong, and Taiwan, led in 2024 for individuals with net worth between $100,000 and $1 million, with 28.2 percent of the population falling into that bracket, followed by Western Europe at 25.4 percent, and North America at 20.9 percent. However, wealth disparities remain stark—over 80 percent of adults in the report sample worldwide still hold less than $100,000. A mere 1.6 percent of the sample are millionaires. UBS predicts average wealth per adult will continue rising over the next five years, led by the U.S. and followed by Greater China.