United States drives surge in global millionaires as wealth expands

A UBS Global Wealth Report shows that global private wealth rose by 10.8% last year, creating an average of 2,600 new dollar‑millionaires each day. The United States accounted for more than 440,000 of those new millionaires, roughly half of the worldwide total, with about 379,000 added in 2024 alone. China follows as the second largest source of new millionaires, while Europe, the Middle East and Africa also posted strong percentage gains.

Despite the rapid increase in total wealth, the report warns that inequality is deepening. Median wealth per adult fell in most countries, meaning the average gains are concentrated among the already‑wealthy. In the United States and China together more than half of global personal wealth is held, and the share of the world’s population with less than $10,000 in net assets remains at 42%. The findings highlight that while the number of millionaires is rising, the economic security of the majority is not improving.