The United States added a thousand new millionaires per day in 2024: report
Mercer Island, a wealthy enclave outside of Seattle.
Danita Delimont | Gallo Images Roots RF Collection | Getty pictures
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The United States accommodate most of a country's millionaires with a record of 23.8 million in 2024, according to a new report by UBS. The Swiss bank estimated that the United States shaped around 379,000 new millionaires or more than a thousand per day for an increase of 1.5%last year.
The Chinese mainland was in second place with 141,000 new millionaires with 6.3 million and 2.3%. In the percentage, the Turkish millionaire population increased by 87,000 by 8.4%.
America has expanded its leadership thanks to a banner year for Wall Street and a stable US dollar. However, the first six months of the 2025 were rocky. President Donald Trump and recession's fears have built through the markets and weighed the dollar, which has dropped by about 9% this year.
The UBS economist James Mazeau told CNBC that it was too early to say whether the US budgetary assets would grow more slowly this year. A weaker dollar tenses wealth growth in countries with non-dollar currencies instead of stopping it in the USA, Mazeau said. But he also said that American real estate was resilient and that US shares could end the year a little higher than today.
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“This year could be lower than last year, but it does not mean that we have a perception of assets and that we will see a negative creation of prosperity,” he said. “I don't think the growth engines in the United States are dead – far from it.”
While almost 40% of world millionaires are based in the United States, Luxembourg and Switzerland have higher concentrations of prosperity. According to UBS, more than one of seven adults are worth at least $ 1 million in both countries.
The global millionaire population rose by more than 684,000 to around 60 million, which is largely due to rising real estate values. However, this growth was geographically different, with some countries lost a share. For example, Japan lost 33,000 millionaires with its shrinking population.
The number of billionaires rose modestly to 2,891, but Mazeau noticed that there was high sales. Billionaires lost wealth in 15 out of 56 markets in UBS 'sample, with the Netherlands and Uruguay having the sharpest declines. Singapore, Qatar, Greece and Poland recorded the highest profits.
“There can also be large assets in this segment,” he said.
Even among the richest people in the worldPresent The wealth concentrates upwards.
UBS estimates that around 60 million people have 226.47 trillion dollars together, almost half of the world's worldwide assets. Within this group there are 2,860 billionaires that represent assets of $ 15.7 trillion. And at the topPresent 15 Centibillionaires, less than 1% of the group, have a combined net asset of 2.4 trillion US dollars.
“We see that there is a concentration of assets or I would say, even among billionaires, even among billionaires,” said Mazeau. It attributed most of the concentration to the outperformance of the tech sector and the rise of “Mega -Tech entrepreneurs”.
According to Mazeau, there is not a lot of data on people in the range of USD $ 50 to 1 billion US dollars, which distorts the image. He also said that wealth growth between medium and lower assets is underestimated. For example, the number of people with 1 million to 5 million US dollars, which UBS refers to “everyday millionaires”, has more than quadrupled at around 52 million since 2000.
“Together they have more prosperity than all billionaires in the world,” he said. “It is often overlooked how much wealth increases and goes into the middle of the pack.”
