U.S. Created Over 1,000 New Millionaires Per Day in 2024, UBS Report Reveals

The United States added more than 379,000 new millionaires in 2024—an average of over 1,000 a day—cementing its position as the world's wealth capital, according to a new UBS Global Wealth report.

Total U.S. millionaires reached 23.8 million, more than one-third of the world’s 60 million, as booming equity markets and stable real estate values fueled personal fortunes. Mainland China followed with 6.3 million millionaires, including 141,000 newly added in 2024.

While Turkey recorded the highest percentage growth in millionaires—up 8.4%—the U.S. dominated in absolute numbers, thanks largely to strong market performance and the resilience of its real estate sector.

Mercer Island, an affluent community located just east of Seattle

UBS economist James Mazeau cautioned that 2025 may not match last year’s surge. The first half has seen turbulence from renewed trade tensions under President Donald Trump and a weakening dollar, which has fallen about 9% this year.

“2025 could see slower growth, but not a reversal,” said Mazeau. “The engines of U.S. wealth creation remain strong—particularly in equities and real estate.”

Beyond the millionaire milestone, the report highlights rising inequality within the wealthy class. Just 15 centibillionaires—individuals worth over $100 billion—hold a combined $2.4 trillion. Meanwhile, the world’s 2,860 billionaires together control $15.7 trillion in assets.

Yet the spotlight is shifting to so-called “everyday millionaires”—individuals with $1 million to $5 million—who now number around 52 million globally. UBS found they collectively hold more wealth than all billionaires combined.

Globally, the total millionaire count rose by over 684,000 in 2024, with surges in wealth driven largely by real estate appreciation. However, the growth wasn't evenly distributed. Japan, for example, saw a decline of 33,000 millionaires amid population contraction.

Among billionaires, fortunes shifted rapidly. While the overall count edged up to 2,891, sharp declines were recorded in the Netherlands and Uruguay, while countries like Singapore, Greece, Qatar, and Poland saw substantial gains.

“Wealth creation remains highly dynamic—and deeply uneven,” said Mazeau. “Even among billionaires, inequality is growing due to the outsized success of tech titans.”