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

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

Wealth grew disproportionately as 379,000 Americans joined the ranks, fuelled by strong markets and dollar stability.

UBS forecasts continued growth in average adult wealth over the next five years, led by the US and Greater China. (Reuters pic)
ZURICH:
Wealth grew disproportionately quickly last year in the US, where over 379,000 people became new US dollar millionaires, more than a 1,000 a day, a report published on Wednesday showed.

Private individuals’ net worth rose 4.6% worldwide, and by over 11% in the Americas, driven by a stable US dollar and upbeat financial markets, the 2025 Global Wealth Report by UBS found. The US accounted for almost 40% 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 US$100,000 to US$1 million, accounting for 28.2%, followed by Western Europe with 25.4% and North America with 20.9%.

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

Over the next five years, the Swiss bank projects average wealth per adult to grow further, led by the US, and, to a lesser extent, Greater China.

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