An IMGW News Report
The United States, comprising only 4 percent of the world’s population, now hosts nearly 40 percent of all dollar‑millionaires – a stark testament to its disproportionate wealth generation. According to UBS’s Global Wealth Report 2025, the US added 379,000 new millionaires in 2024 – over 1,000 per day – bringing its total to almost 24 million.
“the US and mainland China control around 54 % of all personal wealth, with America alone claiming approximately 35 %, and China 19 %”
Globally, personal wealth rebounded robustly in 2024, growing by 4.6 percent in USD terms, up from 4.2 percent in 2023, after a dip in 2022. More than 680,000 individuals crossed the million‑dollar threshold last year – an increase of 1.2 percent – bringing the global count to around 60 million. These millionaires collectively hold over US$226 trillion in assets.
While Türkiye (8.4 percent) and the UAE (5.8 percent) posted the fastest percentage gains in new millionaires, these are dwarfed by the scale of America’s additions . Mainland China contributed 141,000 new millionaires (about 386 daily), and India added 39,000 (107 daily), but both trail well behind the US .
Regionally, Eastern Europe led in overall personal wealth growth – rising more than 12 percent – closely followed by North America. Western Europe, Latin America, Oceania, and Africa, by contrast, stagnated or contracted. North America now holds 43 percent of global millionaires; Western Europe accounts for 26 percent; Greater China 13 percent; and Southeast Asia 9 percent.
In aggregate, the US and mainland China control around 54 percent of all personal wealth, with America alone claiming approximately 35 percent, and China 19 percent. China now counts over 6.3 million millionaires.
UBS forecasts that by 2029, approximately 5.34 million more people will become millionaires – a 9 percent rise – with North America and Greater China as the principal drivers. Underpinning this trend is a phenomenon UBS dubs the “EMILLIs”: Ordinary millionaires, defined as individuals with US$1–5 million in investable assets. Their numbers have quadrupled since 2000, now reaching 52 million globally, holding US$107 trillion – nearly matching the US$119 trillion held by ultra‑wealthy households.
While these figures reveal a world swimming in wealth, they also spotlight growing inequality – both within countries and between them. Yet it is undeniable: when it comes to turning earning power into millionaire status, America remains the unrivalled champion.
Sources:
- World Bank Open Data – Population and Economic Indicators – data.worldbank.org
- UBS Global Wealth Report 2025, UBS AG – últimate report
- “US Added Over 1,000 Millionaires a Day Last Year,” Barron’s, 18 June 2025 – Read more
- “Billionaires’ Wealth Has More Than Doubled in a Decade,” AFP, 6 December 2024 – Read more
- “One in 15 Americans is a Millionaire, UBS Says,” Fortune, 29 July 2024 – Read more
