In 2024, the U.S. solidified its position as a global leader in wealth, adding over 379,000 new millionaires, far exceeding China's 141,000. UBS' annual global wealth report attributes this surge to a stable U.S. dollar and strong financial markets, with the S&P 500 rising over 23%. The U.S. now boasts nearly 23.8 million millionaires, controlling approximately 35% of global personal wealth. The report anticipates this trend will continue, predicting an increase of 5.34 million millionaires by 2029, bringing the global total close to 60 million.
The U.S. added over a thousand new millionaires per day on average in 2024, highlighting the country's dominance in global wealth growth.
Wealth growth in North America was driven by a stable U.S. dollar and upbeat financial markets, with the S&P 500 up by more than 23%.
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