Wealth surged in the United States last year with more than 379,000 people becoming new dollar millionaires, that's more than a 1,000 people a day, according to the latest report from UBS Wealth Management.
Private individuals' net worth grew 4.6% globally and by more than 11% in the Americas, driven by a strong U.S. dollar and buoyant financial markets, according to the 2025 Global Wealth Report by UBS. The U.S. accounted for nearly 40% of all millionaires worldwide in 2024.
The report noted that in 2023, Europe, the Middle East and Africa led a rebound in global wealth after a 2022 decline. However, the U.S. has now taken the lead.
Greater China - covering mainland China, Hong Kong and Taiwan - topped the ranks for individuals with net worth between $100,000 and $1 million, accounting for 28.2% of this group. Western Europe followed with 25.4%, and North America with 20.9%.
Despite these gains, most of the world’s population remains well below millionaire status. More than 80% of adults in the UBS sample held net worth below $100,000. Just 1.6% of people worldwide reached millionaire status.
Looking ahead, UBS forecasts that average wealth per adult will continue to grow over the next five years, led again by the United States, with Greater China also seeing notable gains.
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The United States’ actions in Venezuela have clearly demonstrated not only that Latin America remains firmly in Washington’s geopolitical orbit, but also that the U.S. is the only global superpower.
The death toll from a landfill collapse in the central Philippines has risen to four, an official confirmed on Saturday, as rescue teams continued their efforts to locate dozens still missing.
Kyiv's water and heating systems were restored after being temporarily shut down due to the intense cold, as engineers worked to stabilise the power grid, which had been pushed to the brink by a series of Russian strikes, including one two nights ago.
Elon Musk has accused the UK government of being “fascist” after ministers stepped up pressure on his social media platform X over AI-generated sexualised images linked to its Grok chatbot.
U.S. President Donald Trump has ruled out ordering a mission to capture Russian President Vladimir Putin, saying he is confident the war in Ukraine can be brought to an end.
New York City parents could soon have access to free childcare for two-year-old children following a joint announcement made by Mayor Zohran Mamdani and Governor Kathy Hochul on Thursday (8 January).
Türkiye has stepped back from mediating between Pakistan and Afghanistan after repeated efforts failed to narrow deep differences between Islamabad and Kabul.
Tens of thousands of Iranians have taken to the streets in Tehran and across at least 28 cities in a wave of anti-government demonstrations, now entering their twelfth day.
Türkiye is reportedly in discussions to join the defence alliance between Saudi Arabia and Pakistan, a strategic move that could reshape security dynamics in the Middle East and South Asia.
U.S. oil major Chevron and private equity firm Quantum Capital Group are reportedly preparing a joint bid to acquire Lukoil’s international assets, as the sanctioned Russian energy company seeks to divest its overseas operations.
The U.S. dollar's share of global reserves fell to nearly 40% at the end of 2025, according to the International Monetary Fund (IMF), which says it's 10% lower than at the start of 2024. However, gold has risen and overtaken the dollar to be above 50% in global reserves according to the IMF data.
The U.S. dollar has strengthened against major peers on Tuesday, while the euro fell following slower-than-expected inflation in Europe. Market movements were relatively subdued as investors focused on upcoming U.S. economic data.
Wall Street closed higher on Tuesday, boosted by optimism over artificial intelligence (AI) and a strong rally in Moderna shares, with the Dow Jones Industrial Average approaching a record high.
India’s largest oil refiner, Indian Oil Corporation (IOC), has taken a significant step towards diversifying its crude oil supply by purchasing Colombian crude, from state oil company Ecopetrol, for the first time.
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