Wealth grew at a striking pace in the United States last year, with more than 379,000 individuals joining the ranks of U.S. dollar millionaires, an average of over 1,000 new millionaires every day, according to the 2025 Global Wealth Report published by UBS on Wednesday.

The report highlighted a 4.6% rise in global net worth among private individuals, with the Americas experiencing an even sharper increase of over 11%.

This surge was largely fueled by a steady U.S. dollar and strong performance in financial markets. The United States alone was home to nearly 40% of the world’s millionaires in 2024.

In contrast to the U.S.-led boom, the report noted that in 2023, it was Europe, the Middle East, and Africa that had driven a recovery in global wealth following a downturn in 2022.

When it comes to those with mid-tier wealth—individuals whose net worth falls between $100,000 and $1 million—Greater China emerged as the global leader, accounting for 28.2% of that group. Western Europe followed with 25.4%, while North America held 20.9%.

Despite the rise in millionaires, the vast majority of adults worldwide remained far from that mark.

The report found that more than 80% of people in the UBS sample had a net worth below $100,000. Only about 1.6% had $1 million or more.

Looking ahead, UBS projects that average wealth per adult will continue to rise over the next five years, with the United States expected to lead the growth, followed by Greater China. (Vanguard)