US Creates Over 1,000 New Millionaires Daily Amid Global Wealth Growth

Economy

US Creates Over 1,000 New Millionaires Daily Amid Global Wealth Growth

5 months ago

News sources:

REUTERS

TRTGLOBAL

SCMP

INDIATIMES 3

CBSNEWS

US Creates Over 1,000 New Millionaires Daily Amid Global Wealth Growth

Credited from: TRTGLOBAL

Over 379,000 new millionaires emerged in the US in 2024.
The US now holds nearly 40% of the world's millionaires.
Global personal wealth rose by 4.6% driven by a stable US dollar and strong stock markets.
Despite the wealth increase, over 80% of global adults have net worths below $100,000.
UBS projects an additional 5 million millionaires worldwide over the next five years.

In 2024, the United States added more than 379,000 new US dollar millionaires, amounting to over 1,000 daily, which accounted for nearly 40% of the global millionaire population, according to the Reuters and TRT Global.

This surge in wealth was largely attributed to a stable US dollar and robust market performance, with the S&P 500 index surging more than 23%, as noted in reports from SCMP and India Times.

Globally, personal wealth increased by 4.6%, with the Americas experiencing an even sharper rise of over 11%, highlighting the region's distinct economic resilience, according to CBS News and India Times.

Despite the rise in millionaires, a stark wealth disparity persists, with over 80% of adults worldwide having net worths below $100,000. Only approximately 1.6% hold at least $1 million, as detailed by India Times and SCMP.

UBS forecasts a continuous increase in global millionaires, projecting that over 5 million additional individuals will achieve millionaire status in the next five years, underscoring strong economic trends, according to Reuters and India Times.