US added over 1,000 new millionaires a day last year

Wealth grew disproportionately quickly last year in the United States, where over 379,000 people became new US dollar millionaires, more than a 1,000 a day, a report published yesterday showed.

Private individuals' net worth rose 4.6 percent worldwide, and by over 11 percent in the Americas, driven by a stable US dollar and upbeat financial markets, the 2025 Global Wealth Report by UBS found. The United States accounted for almost 40 percent of global millionaires in 2024.

In 2023, Europe, the Middle East and Africa had led a rebound in global wealth after a decline in 2022. Greater China - which the report defined as mainland China, Hong Kong and Taiwan - led last year for individuals with a net worth of $100,000 to $1 million, accounting for 28.2 percent, followed by Western Europe with 25.4 percent and North America with 20.9 percent.

The majority of people worldwide were below that threshold, however, with over 80 percent of adults in the UBS sample having a net worth of under $100,000. Overall, about 1.6 percent registered a net worth of $1 million or more, the report said.