America remains the global leader of wealth creation as the United States has seen an unprecedented rise in new millionaires.
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With the addition of 1,000 new millionaires daily, ordinary citizens are witnessing a burgeoning economic landscape thanks to a booming stock market, real estate wins, and technological innovation.
The United States saw a remarkable rise, creating 1,000 new millionaires each day in 2024, leading to over 379,000 Americans reaching this financial milestone.
This surge accounted for more than half of all new millionaires worldwide and marks America’s dominance on the global wealth ladder.
Many are benefiting from robust stock market gains as the S&P 500 rose over 23% this year.
The financial exuberance in the U.S. stands testament to favorable economic conditions, which were further boosted by a stable U.S. dollar and positive financial markets.
In comparison to global wealth growth, which climbed by 4.6%, the Americas experienced an 11% increase, signifying the strength of North America’s financial setting.
Globally, a total of 680,000 people joined the millionaire ranks, marking a 1.2% rise from 2023.
Despite incredible earnings, the average wealth per adult in the Americas stood at about $312,000 at the end of 2024.
It’s clear, although there is a rising number of millionaires, wealth distribution remains uneven.
UBS predicts that another 5.34 million people could become millionaires by 2029.
While the Americas account for nearly 40% of the world’s millionaires, the Asia-Pacific region and Europe, the Middle East, and Africa also contribute to these numbers, with shares of 36% and 25%, respectively.
Such figures highlight the immense opportunity and disparity within global markets.
The triumphant wealth boost is secured by a convergence of factors including the red-hot stock market, technological strides, and a flourishing real estate sector.
However, beneath this gilded narrative lies a vital question—does the accumulation of millionaire ranks benefit the majority of Americans, or only a select few?
With UBS measuring net worth by evaluating financial and real assets, minus debts, we understand that not all Americans embark on this prosperous path.
While many celebrate these financial accomplishments as a beacon of economic health, others may argue it reflects an expanding gap between the wealthy and the common worker.
As the number of millionaires increases daily, only time will tell if these riches filter down to the broader population, invigorating the average American home.
WATCH: The US added over 1,000 new millionaires a day last year, a UBS report shows. Worldwide, over 80% of adults in the UBS sample had a net worth of under $100,000 https://t.co/BEMq0wAOH4 pic.twitter.com/TlNlijws7V
— Reuters Business (@ReutersBiz) June 19, 2025
