Surge in Millionaires: U.S. Leads Global Wealth Growth
In 2024, the U.S. minted over 1,000 new millionaires daily, contributing to a global trend of rising private wealth and increasing millionaire populations.
Overview
In 2024, over 379,000 individuals in the U.S. became millionaires, averaging more than 1,000 new millionaires each day.
Greater China accounted for 28.2% of individuals with a net worth between $100,000 and $1 million, leading in this wealth category.
Globally, over 80% of adults have a net worth below $100,000, highlighting a stark wealth disparity amid rising private wealth.
UBS forecasts continued growth in average wealth per adult over the next five years, primarily driven by the U.S. and Greater China.
The U.S. produced nearly 40% of the world's millionaires in 2024, with its residents making up over half of all new millionaires globally.
Analysis
Center-leaning sources emphasize the rapid increase in U.S. millionaires, framing it as a significant economic trend. They express a cautious optimism about future growth, highlighting the U.S.'s dominant role globally. Implicitly, there may be a critique of wealth disparity, as the focus on millionaires raises questions about broader economic equity.