The number of millionaires in the United States grew last year, distinguishes the United States as a world leader in global wealth.
UBS, an investment bank and a financial services company, published its annual global wealth report on Wednesday, looking back in wealth trends in 2024. The company defined a millionaire like anyone with a net worth of at least $ 1 million.
UBS discovered that the United States added around one thousand new millionaires per day on average in 2024, much more than the 380 new millionaires per day experienced in China, which was in second place. In total, there were 379,000 new millionaires in the United States last year, followed by the 141,000 China. The two countries represented more than half of the 684000 new millionaires in general.
The growth of wealth in North America was “promoted by a US dollar and optimistic financial markets,” according to the report. Financial markets did well last year: S&P 500 increased by more than 23% in 2024, and Nasdaq increased almost 29%.
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UBS discovered that the United States has the largest number of millionaires in the world, more than Western Europe and China combined. The United States has 23.8 million people in the seven -digit club, the highest of any other nation, and has almost 35% of the participation of global personal wealth. China arrives secondly with 6.3 million millionaires and about 20% of the participation of personal wealth.
Countries such as Japan, France, Germany, the United Kingdom and Canada have about two million millionaires from 2024.
In summary, there are almost 60 million millionaires in the world that control a total of $ 226.47 billion in assets.
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UBS expects the number of millionaires to continue increasing, and 5.34 million additional people are worth seven figures by 2029, a 9% increase in 2024.
“Around the next five years, we hope that North America and the Great China will be the main drivers of world wealth growth,” says the report.
A separate report by Henley & Partners and New World Wealth, published last month, shows that the number of liquid millionaires in the US., Or those with assets of more than $ 1 million, has tested in the last decade.
The number of millionaires in the United States grew last year, distinguishes the United States as a world leader in global wealth.
UBS, an investment bank and a financial services company, published its annual global wealth report on Wednesday, looking back in wealth trends in 2024. The company defined a millionaire like anyone with a net worth of at least $ 1 million.
UBS discovered that the United States added around one thousand new millionaires per day on average in 2024, much more than the 380 new millionaires per day experienced in China, which was in second place. In total, there were 379,000 new millionaires in the United States last year, followed by the 141,000 China. The two countries represented more than half of the 684000 new millionaires in general.
