The US added more than 1,000 new millionaires per day last year, with surging stocks driving the wealth increase, according to a new report from UBS.
There were more than 684,000 millionaires created worldwide in 2024, including over 379,000 in the US. Overall, wealth increased 4.6% across the globe, though the “speed of growth was far from uniform, largely titled toward the US,” according to UBS’ 2025 Global Wealth report.
A stable US dollar and booming markets were cited as key factors that boosted wealth globally. Europe, Asia and the Middle East saw more modest growth, with countries including Belgium, France and Germany sliding down the ranks of average wealth per adult in US dollars.
Switzerland retained the top spot with average wealth per adult at $687,166, while the US was next at $620,654, jumping two spots compared with last year. When it comes to median wealth, Luxembourg led the list, followed by Australia and Belgium.
The report examined individual assets in the fourth quarter of 2024 across 56 markets, according to UBS.
Written by: Max Rivera — With assistance from Phil Kuntz @Bloomberg
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