Co-founder of macrovisor Ayesha Tariq analyzes the state of American household liquidity on ‘earning money’.
The US had new millionaires on its way to a decent clip last year.
Ubs said it is Gapens report worldwidereleased on Wednesday, found that America received more than 379,000 new millionaires in 2024.
It recorded the biggest increase in new millionaires “in absolute growth opportunities” from the dozens of markets that UBS viewed all over the world last year, and the equivalent of more than 1,000 people reached a millionaire status every day, according to the report.
Pedestrians walk past an American flag that is displayed outside the New York Stock Exchange in New York on 12 September 2016. (Michael Nagle / Bloomberg via Getty Images / Getty images)
The total number of millionaires in the US climbed by 1.5% in 2024 and hit 23.8 million, according to the report.
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That figure accounts for 40% of all millionaires in the world.
Behind the US, mainland China, France, Japan and Germany, according to the report in 2024, had the highest number of millionaires in 2024, at around 6.33 million, 2.9 million, 2.73 million and 2.68 million.
In general, the world won more than 684,000 new millionaires in 2024, a jump of 1.2% compared to the previous year, UBS said.
Global wealth also increased by 2024 and, according to the report, climbed 4.6%.
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“The growth in wealth was strongly tilted to North America, driven by a stable American dollar and floating financial markets,” said UBS. “Eastern Europe also performed exceptionally well last year.”
The number of millionaires in the US increased by 1.5% in 2024. (Istock / Istock)
Last year, regionally America had the highest average wealth per adult, according to $ 311,846, according to the report. The region for Europe, the Middle East and Africa were on average $ 167,696 per adult, while the average wealth per adult in the Asia pacific came to $ 66,808.
The Subregion of Noord -America clocks at $ 593,347 for average wealth per adult in 2024, higher than the next richest subregion, Oceania, with more than $ 90,600, the report showed.
UBS predicted Noord -America and Greater China will be the “most important motives of global wealth growth” in the next five years.
The flags of the United States and China fly from a lamppost in the Chinatown district in Boston November 1, 2021. (Reuters/Brian Snyder/File Photo/Reuters -Photos)
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It also expects the world to have 5.34 million more new millionaires by 2029.
