US Millionaires 2024: New Wealth Report
The United States led the world in millionaire creation during 2024, adding over 1,000 new millionaires daily, according to the latest wealth report. This surge in the number of US millionaires, considerably outpacing China, solidifies America’s dominance in global wealth. Driven largely by a stable dollar and robust financial markets, the U.S. now holds nearly 35% of the world’s personal wealth. News Directory 3 keeps you informed on these critical shifts in the financial landscape. The report highlights how the S&P 500 and Nasdaq’s strong performance fueled growth. With nearly 60 million millionaires globally controlling trillions, the financial future is reshaped by these statistics continually. Discover what’s next in the projected wealth expansion by 2029.
US Leads World in New Millionaires, Driving Global Wealth Growth
Updated June 19, 2025
The United States saw a significant increase in its millionaire population last year, solidifying its position as a global leader in wealth. A report by UBS revealed the U.S. added an average of over 1,000 new millionaires each day in 2024.
This figure far surpasses China, which added 380 new millionaires daily. In total, the U.S. gained 379,000 new millionaires, while China added 141,000. Together, these two countries accounted for more then half of the 684,000 new millionaires worldwide.
The report attributed North America’s wealth growth to a stable U.S. dollar and strong financial markets. The S&P 500 increased by more than 23% in 2024,and the Nasdaq rose nearly 29%.
The U.S. boasts the highest number of millionaires globally, exceeding the combined total of Western Europe and China. With 23.8 million individuals in the seven-figure club, the U.S.holds almost 35% of global personal wealth. China follows with 6.3 million millionaires, holding close to 20% of personal wealth.
japan, France, Germany, the U.K., and Canada each have over two million millionaires as of 2024. Globally, nearly 60 million millionaires control $226.47 trillion in assets.
What’s next
UBS anticipates continued growth in the number of millionaires,projecting an additional 5.34 million individuals will achieve seven-figure wealth by 2029, a 9% increase from 2024. North America and Greater China are expected to be the primary drivers of global wealth growth over the next five years.