The United States has continued to dominate the world riches ranking in 2024, adding more than 379,000 new millionaires to bring its total to 23.8 million, according to a new report published by UBS.
The country now represents almost 40% of the world’s millionaire population, strengthening its position as the leading generator of private wealth in the world.
UBS said that American overvoltage was supported by a solid 2024 for Wall Street and a stable dollar for most of the year.
The number of American millionaires has increased 1.5% in annual sliding, with an average of more than 1,000 new millionaires created each day.
Continental China has retained second place, recording an increase of 2.3% to 6.3 million millionaires.
Turkey has displayed the highest percentage, its millionaire population increasing by 8.4% to 87,000.
Overall, the world number of millionaires has increased by more than 684,000 to almost 60 million, has largely helped by the increase in real estate values.
The volatility of the dollar and commercial uncertainty weigh on 2025 prospects for the creation of American wealth
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Despite the gains in 2024, 2025 started on the more fragile foot.
The US dollar has dropped approximately 9% so far this year, in the midst of concerns about the renewed trade wars of President Donald Trump and fears of a national slowdown.
These developments have triggered the volatility of the financial markets and left prudent economists.
UBS economist James Mazeau told CNBC that he was too early to say if the wealth of American households would increase at a slower pace this year.
A lower dollar actually raises wealth in non -dollar countries. The United States may not lose wealth in nominal terms, especially if actions are recovered.
He also noted that the prices of American housing remained resilient and that the actions could finish 2025 higher than the current levels.
“This year could be lower than that of last year, but that does not mean that we will have a reversal of makeshift and that we will see a creation of negative wealth,” he said.
I don’t think growth engines died in the United States – far from it.
Wealth remains concentrated, even among the billionaires
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While the millionaire class continues to grow, wealth remains strongly concentrated.
UBS has noted that around 60 million millionaires worldwide hold 226.47 Billion of combined dollars, almost half of the world’s world wealth.
Among these, only 2,860 people are considered billionaires, controlling $ 15.7 billions in assets.
The highest 15 centillionarians, each worth more than $ 100 billion, hold 2.4 billions of combined dollars.
Even among the billionaires, said Mazeau, inequalities are notable.
“We see that there is a concentration of wealth or, I would say, inequalities of wealth, even among the billionaires,” said Mazeau.
It has allocated most of the concentration to the outperformance of the technological sector and to the rise of “mega technological entrepreneurs”.
Aldo, while the United States represents almost 40% of world millionaires, Luxembourg and Switzerland have greater density of wealth.
In both countries, more than one in seven adults holds assets worth at least $ 1 million, according to UBS.
Some regions, including Japan, have seen decreases in the number of millionaires, Japan losing 33,000 due to demographic quarters.
Meanwhile, Singapore, Qatar, Greece and Poland have considerably added their ranks, while billionaire wealth has dropped sharply in the Netherlands and Uruguay.
The “everyday millionaires” exceed the billionaires of total wealth
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UBS stressed that most wealth gains occur in the world’s levels.
The number of people with $ 1 and $ 5 million – the so -called “everyday millionaires” – has been quadrupled since 2000 and now has around 52 million.
Together, they control more wealth than all billionaires in the world.
“It is often overlooked how wealth is increasing and goes to the world of the peloton,” said Mazeau.
He added that limited data on that of the beach of $ 50 million to $ 1 billion distorts public perceptions of the inequality of wealth.
With the expansion of world wealth and new emerging trends in the property of assets, UBS expects the composition of the rich world to continue to evolve – even if volatility and policy changes create bumps along the way.
