Latest news with #2025GlobalWealthReport
Time of India
11 hours ago
- Business
- Time of India
Over 379,000 in US became dollar millionaires last year, equivalent to more than 1,000 every day
Over 379,000 people in the United States became dollar millionaires last year, equivalent to more than 1,000 every day, according to a 2025 Global Wealth Report from UBS. Wealth grew disproportionately in the US last year with the country accounting for almost 40% of global millionaires in 2024. Private individuals' net worth rose 4.6% worldwide, and by over 11% in the Americas, driven by a stable U.S. dollar and upbeat financial markets, the report found. What does the USB report found? The UBS Global Wealth Report 2025 shows that global wealth grew by 4.6 per cent in 2024, after a 4.2 per cent increase in 2023, continuing a consistent upward trend. The Americas overall accounted for the majority of the increase, with more than 11 per cent, driven by a stable dollar and buoyant financial markets, the report reveals. Asia-Pacific (APAC) and Europe, the Middle East and Africa (EMEA) were lagging behind, with growth rates of below 3 per cent and less than 0.5 per cent respectively. This is in marked contrast to 2023 when the rebound in wealth was led most strongly by growth in EMEA. ALSO READ: Kristi Noem's hospitalisation linked to her visit with RFK Jr to a controversial biohazard lab for Ebola, SARS-CoV-2? Live Events The US and mainland China also jointly account for more than half of the entire personal wealth in the sample. A significant gap in wealth per adult persists between North America and Oceania on the one hand, and the world's other sub-regions on the other, the report reveals. The number of millionaires worldwide, measured in U.S. dollars, increased by 1.2% in 2024—adding over 684,000 people compared to the previous year. The United States alone contributed more than 379,000 new millionaires, averaging over 1,000 a day. According to the report, the U.S., mainland China, and France recorded the highest numbers of millionaires, with the U.S. making up nearly 40% of the global total. This year's report also shines a spotlight on a rapidly growing yet often overlooked group: the Everyday Millionaires , or 'EMILLIs'—individuals with investable assets ranging from $1 million to $5 million. Since 2000, the number of EMILLIs has more than quadrupled, reaching approximately 52 million worldwide by the end of last year. ALSO READ: A list of 'safest' countries to seek shelter as World War III fear looms Collectively, this segment now holds about $107 trillion in wealth—nearing the $119 trillion owned by individuals with over $5 million in assets. The expansion of this group has been largely fueled by rising property values and favorable exchange rate shifts. Despite regional variations, the steady global growth of the Everyday Millionaire population remains a clear trend. The report also highlights differences in wealth distribution among generations in US Millennials (born after 1981) which have the highest proportion of their assets in consumer durables and real estate, and invest more heavily in private businesses. Baby Boomers (born between 1946 and 1964) hold over $83 trillion in net wealth, surpassing Generation X (born between 1965 and 1980), the Silent Generation (born before 1945), and Millennials.
Time of India
13 hours ago
- Business
- Time of India
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. Stay informed with the latest business news, updates on bank holidays and public holidays . AI Masterclass for Students. Upskill Young Ones Today!– Join Now
New York Post
16 hours ago
- Business
- New York Post
US added over 1,000 new millionaires a day last year: UBS report
Wealth grew disproportionately quickly last year in the United States, where over 379,000 people became new US dollar millionaires, more than 1,000 a day, a report published on Wednesday showed. Private individuals' net worth rose 4.6% worldwide, and by over 11% in the Americas, driven by a stable US dollar and upbeat financial markets, the 2025 Global Wealth Report by UBS found. 3 President Donald Trump is sitting near a computer playing a news report about the stock market during a press conference in the Oval Office at the White House in Washington, DC, on May 30, 2025. FRANCIS CHUNG/POOL/EPA-EFE/Shutterstock Advertisement The United States accounted for almost 40% of global millionaires in 2024. In 2023, Europe, the Middle East and Africa had led a rebound in global wealth after a decline in 2022. Greater China – which the report defined as mainland China, Hong Kong and Taiwan – led last year for individuals with a net worth of $100,000 to $1 million, accounting for 28.2%, followed by Western Europe with 25.4% and North America with 20.9%. Advertisement 3 An American flag hangs on the wall as traders work on the floor of the New York Stock Exchange (NYSE) at the opening bell on June 13, 2025, in New York City. AFP via Getty Images 3 The 'Fearless Girl' sculpture outside the New York Stock Exchange, May 23, 2025. AFP via Getty Images The majority of people worldwide were below that threshold, however, with over 80% of adults in the UBS sample having a net worth of under $100,000. Overall, about 1.6% registered a net worth of $1 million or more, the report said. Advertisement Over the next five years, the Swiss bank projects average wealth per adult to grow further, led by the United States, and, to a lesser extent, Greater China.
Straits Times
17 hours ago
- Business
- Straits Times
US added over 1,000 new millionaires a day last year on upbeat markets, stable dollar
Americans' net worth rose on the back of a stable US dollar and upbeat financial markets. PHOTO: REUTERS US added over 1,000 new millionaires a day last year on upbeat markets, stable dollar ZURICH – Wealth grew disproportionately quickly in 2024 in the United States, where over 379,000 people became new millionaires, more than 1,000 a day, a report published on June 18 showed. Private individuals' net worth rose 4.6 per cent worldwide and by over 11 per cent in the Americas, driven by a stable US dollar and upbeat financial markets, the 2025 Global Wealth Report by UBS found. The United States accounted for almost 40 per cent of global millionaires in 2024. In 2023, Europe, the Middle East and Africa led a rebound in global wealth after a decline in 2022. Greater China – which the report defined as mainland China, Hong Kong and Taiwan – led in 2024 for individuals with a net worth of US$100,000 to US$1 million, accounting for 28.2 per cent, followed by Western Europe with 25.4 per cent and North America with 20.9 per cent. The majority of people worldwide were below that threshold, however, with over 80 per cent of adults in the UBS sample having a net worth of under US$100,000. Overall, about 1.6 per cent registered a net worth of US$1 million or more, the report said. Over the next five years, the Swiss bank projects average wealth per adult to grow further, led by the United States, and, to a lesser extent, Greater China. REUTERS Join ST's Telegram channel and get the latest breaking news delivered to you.
Time of India
17 hours ago
- Business
- Time of India
US added over 1,000 new millionaires a day last year, UBS report says
The U.S. saw a significant surge in wealth last year, adding over 379,000 new millionaires, driven by a strong dollar and thriving financial markets. While the Americas experienced an 11% increase in private wealth, Greater China led in the $100,000 to $1 million net worth category. UBS projects continued wealth growth, particularly in the U.S. Tired of too many ads? Remove Ads Wealth grew disproportionately quickly last year in the United States, where over 379,000 people became new U.S. dollar millionaires, more than a 1,000 a day, a report published on Wednesday individuals' net worth rose 4.6% worldwide, and by over 11% in the Americas, driven by a stable U.S. dollar and upbeat financial markets, the 2025 Global Wealth Report by UBS found. The United States accounted for almost 40% of global millionaires in 2023, Europe, the Middle East and Africa had led a rebound in global wealth after a decline in China - which the report defined as mainland China, Hong Kong and Taiwan - led last year for individuals with a net worth of $100,000 to $1 million, accounting for 28.2%, followed by Western Europe with 25.4% and North America with 20.9%.The majority of people worldwide were below that threshold, however, with over 80% of adults in the UBS sample having a net worth of under $100,000. Overall, about 1.6% registered a net worth of $1 million or more, the report the next five years, the Swiss bank projects average wealth per adult to grow further, led by the United States, and, to a lesser extent, Greater China.
