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.
Nippon Steel closed its $14.9 billion acquisition of U.S. Steel on Wednesday after securing approval from the Trump administration, which obtained a rare “golden share” giving the U.S. government veto power over key corporate decisions.
Sweden’s central bank lowered its key interest rate to 2.00% on Wednesday, citing mild inflation and weaker-than-expected economic growth.
U.S. President Donald Trump on Wednesday declined to say whether Washington planned to strike Iran or its nuclear sites, adding that Tehran had reached out but it may now be "too late to be talking."
The United Nations Conference on Trade and Development agency (UNCTAD) faces deep staffing cuts amid a global funding crisis, raising concerns about its ability to support developing nations navigating economic shocks like U.S. tariffs.
U.S. President Donald Trump will extend the deadline for TikTok's U.S. divestment for a third time, giving 90 more days to finalize a sale, the White House confirmed.
Nippon Steel closed its $14.9 billion acquisition of U.S. Steel on Wednesday after securing approval from the Trump administration, which obtained a rare “golden share” giving the U.S. government veto power over key corporate decisions.
As tensions between Israel and Iran escalate, the vital Strait of Hormuz has become a focal point of global concern, prompting commercial shipping to reroute and maritime agencies to issue urgent advisories.
Sweden’s central bank lowered its key interest rate to 2.00% on Wednesday, citing mild inflation and weaker-than-expected economic growth.
The U.S. military stands prepared to execute any decision President Donald Trump makes regarding Iran, Defense Secretary Pete Hegseth stated on Wednesday, as the conflict in the Middle East intensifies with ongoing Israeli strikes against Iranian targets.
U.S. President Donald Trump on Wednesday declined to say whether Washington planned to strike Iran or its nuclear sites, adding that Tehran had reached out but it may now be "too late to be talking."
Peace is no longer a dream. It is a discussion. On the streets of Baku and Yerevan, it is also a question, of trust, of foreign interests, and of who truly wants it.
Israeli strikes have reportedly targeted areas near the residences of Iran’s Supreme Leader Ayatollah Ali Khamenei and President Masoud Pezeshkian, according to the New York Times, citing local witnesses.
Azerbaijan Airlines (AZAL) has cancelled certain flights scheduled for 13th and 14th June amid recent escalation of situation in the Middle East and the closure of airspace in several countries for security reasons.
Start your day informed with AnewZ Morning Brief: here are the top news stories for June 17th, covering the latest developments you need to know.
The Israeli military has issued an evacuation advisory for Iranian civilians living near weapons production sites and associated infrastructure within Iran. The message was shared on the social media platform X in both Arabic and Farsi by an official military spokesperson.
Nippon Steel closed its $14.9 billion acquisition of U.S. Steel on Wednesday after securing approval from the Trump administration, which obtained a rare “golden share” giving the U.S. government veto power over key corporate decisions.
Sweden’s central bank lowered its key interest rate to 2.00% on Wednesday, citing mild inflation and weaker-than-expected economic growth.
The United Nations Conference on Trade and Development agency (UNCTAD) faces deep staffing cuts amid a global funding crisis, raising concerns about its ability to support developing nations navigating economic shocks like U.S. tariffs.
U.S. President Donald Trump is warning that the 25% tariffs on British steel imports may remain unless the UK provides specific assurances about the Indian-owned Tata Steel plant at Port Talbot, amid ongoing trade negotiations following a partial G7 agreement.
The UK has intensified economic pressure on Russia by announcing a new wave of sanctions. Prime Minister Keir Starmer announced 30 new measures which target key areas of Russia’s financial, military, and energy sectors, in response to President Volodymyr Putin’s ongoing war in Ukraine.
Nippon Steel closed its $14.9 billion acquisition of U.S. Steel on Wednesday after securing approval from the Trump administration, which obtained a rare “golden share” giving the U.S. government veto power over key corporate decisions.
As tensions between Israel and Iran escalate, the vital Strait of Hormuz has become a focal point of global concern, prompting commercial shipping to reroute and maritime agencies to issue urgent advisories.
Sweden’s central bank lowered its key interest rate to 2.00% on Wednesday, citing mild inflation and weaker-than-expected economic growth.
The U.S. military stands prepared to execute any decision President Donald Trump makes regarding Iran, Defense Secretary Pete Hegseth stated on Wednesday, as the conflict in the Middle East intensifies with ongoing Israeli strikes against Iranian targets.
U.S. President Donald Trump on Wednesday declined to say whether Washington planned to strike Iran or its nuclear sites, adding that Tehran had reached out but it may now be "too late to be talking."
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