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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A research team led by Tsinghua University has unveiled a groundbreaking method for making organs transparent, offering the most detailed view yet of the brain’s inner workings.
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In Bolivia's first-round presidential election, voters decisively rejected the leftist party that has ruled the country for most of the past two decades, signaling a shift toward more market-friendly policies to address the nation's economic struggles.
A powerful eruption at Japan’s Shinmoedake volcano sent an ash plume more than 3,000 metres high on Sunday morning, prompting safety warnings from authorities.
According to the German Research Centre for Geosciences (GFZ), a magnitude 5.7 earthquake struck the Oaxaca region of Mexico on Saturday.
A magnitude 5.2 earthquake struck 56 kilometres east of Gorgan in northern Iran early Sunday morning, according to preliminary seismic data.
'Superman' continued to dominate the summer box office, pulling in another $57.25 million in its second weekend, as theatres welcome a wave of blockbuster competition following a challenging few years for the film industry.
Honduras has brought back mask mandates as COVID-19 cases and a new variant surge nationwide.
The Trump administration is expected to shed roughly 300,000 federal workers in 2025, Office of Personnel Management (OPM) Director Scott Kupor said Thursday.
The European Bank for Reconstruction and Development (EBRD) has provided a €500 million loan (almost $590 million) to the national gas company Naftogaz (NAK) for emergency gas purchases for Ukraine.
Bitcoin surged to a new all-time high as expectations grow for U.S. interest rate cuts and regulatory moves favouring crypto investment, boosting investor confidence in the sector.
The U.S. budget deficit surged nearly 20% in July to $291 billion despite a significant increase in customs duty collections from President Donald Trump’s tariffs, as government spending outpaced revenue growth.
The National Carrier of Türkiye, Turkish Airlines has announced an increase in the number of its weekly flights to China.
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