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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