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 Nations Security Council on Saturday adopted Resolution 2797 (2025), renewing the mandate of the United Nations Mission for the Referendum in Western Sahara (MINURSO) for one year until October 31, 2026.
Amid rising geopolitical tensions and growing uncertainty in the global trade system, Asia-Pacific leaders concluded the annual APEC summit on Saturday with a joint declaration emphasizing resilience and shared benefits in trade.
A man and a woman were killed and several others injured in a shooting on the Greek island of Crete on Saturday, in what police officials described as a family vendetta, reviving memories of the island’s long and complex history of inter-family violence.
As the U.S. federal government shutdown enters another critical stage, millions of low-income Americans face the possibility of losing their Supplemental Nutrition Assistance Program (SNAP) benefits.
Reports from CNN say the Pentagon has approved the provision of long range Tomahawk missiles to Ukraine after assessing its impact on U.S. stockpiles, while leaving the ultimate decision to President Trump.
Tanzanian police fired tear gas and live rounds on Thursday to disperse protesters in Dar es Salaam and other cities, a day after a disputed election marked by violence and claims of political repression, witnesses said.
The U.S. State Department has ordered the departure of all non-emergency personnel and their family members from Mali, citing escalating security risks as al Qaeda-linked insurgents tighten a fuel blockade on the country.
Torrential rain battered New York on Thursday, leaving two people dead, Mayor Eric Adams confirmed, as severe storms disrupted flights and prompted flood warnings across parts of the city.
The United Nations has warned of a catastrophic humanitarian situation in Sudan after reports emerged of mass killings, sexual violence, and forced displacements following the capture of al-Fashir by the Rapid Support Forces (RSF).
Chinese electric carmaker BYD is making major strides in Europe, with sales surging nearly fivefold in September from a year earlier to just under 25,000 new registrations.
U.S. stocks were mixed late Wednesday as traders digested comments from Federal Reserve Chair Jerome Powell, who signaled that another interest rate cut in December is far from guaranteed. The Dow Jones Industrial Average and S&P 500 edged slightly lower, while the Nasdaq climbed on continued gains
U.S. chipmaker Nvidia has made history by becoming the first company in the world to reach a market value of 5 trillion dollars, driven by soaring demand for artificial intelligence technologies.
Nokia announced on Tuesday that chipmaker Nvidia will acquire a $1 billion stake in the company.
Türkiye’s main stock index, BIST 100, closed on Friday at 10,941.79 points, recording a 3.14% increase.
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