US added over 1,000 new millionaires daily in 2024, global net worth rises 4.6% led by financial market rebound, says UBS report

The number of millionaires in the United States grew by more than 379,000 in 2024 — over 1,000 new dollar millionaires every day — accounting for nearly 40% of global millionaires last year, according to the 2025 Global Wealth Report published by UBS on Wednesday.The report said private wealth rose 4.6% globally, with the Americas registering an 11% increase, driven by a stable US dollar and strong equity market performance. The US remained the largest contributor to the rise in millionaire households worldwide, according to Reuters report.The surge follows a broader rebound in global wealth, after a dip in 2022 and a strong recovery across Europe, the Middle East and Africa in 2023.UBS defined “Greater China” as mainland China, Hong Kong, and Taiwan. In the sub-millionaire wealth bracket — individuals with net worths between $100,000 and $1 million — Greater China led with 28.2%, followed by Western Europe at 25.4% and North America at 20.9%.However, the report noted that the majority of global adults — over 80% — had a net worth below $100,000, while only about 1.6% had net wealth of $1 million or more.UBS projected that average adult wealth is likely to increase further over the next five years, led by gains in the United States, followed by Greater China.