US created eye-popping number of new millionaires in 2024, report finds

Key Takeaways

• Millionaire Surge: U.S. added 379,000 new millionaires in 2024—over 1,000 daily .

• Global Dominance: America holds 23.8 million millionaires, 40% of the worldwide total .

• Wealth Catalysts: Strong markets and a stable dollar fueled growth, though trade wars and recession fears hit in 2025 .

• Billionaire Concentration: Top 15 centibillionaires hold $2.4 trillion—extreme wealth stratification even among elites .

• Regional Shifts: Turkey’s millionaires grew 8.4%; Japan lost 33,000 due to population decline .

The Raw Numbers

The U.S. minted 379,000 new millionaires in 2024. That’s 1,039 people crossing the seven-figure threshold every day. The total climbed to 23.8 million—more than the next three countries combined. Wall Street grinned. The S&P 500 jumped 23%, the Nasdaq 29%. Money piled up like dirty laundry.

Wall Street’s Sugar High

Markets gorged on easy gains. A stable dollar let investors feast. Then 2025 arrived. Trump’s trade wars bit. Recession whispers grew louder. The dollar stumbled—down 9% by mid-year. UBS economist James Mazeau shrugged. Said the engines aren’t dead. Just sputtering . Real estate stood firm. Stocks might claw back. But the party? Over.

Global Peeking Order

Mainland China trailed with 141,000 new millionaires. France, Japan, Germany hovered near 2.7 million each. Turkey? An 8.4% spike—the highest rate globally. Japan bled 33,000 millionaires. Its population shriveled. Luxembourg and Switzerland? One in seven adults own seven figures there .

Billionaire Stratosphere

2,891 billionaires held $15.7 trillion. The top 15 hoarded $2.4 trillion. Tech moguls fattened their vaults. Netherlands and Uruguay billionaires bled. Singapore, Qatar, Greece laughed all the way to the bank . UBS called it “great reversals of fortune.” Winners. Losers. Same casino.

2025’s Gathering Clouds

Markets jittered. Trade tariffs choked supply chains. The dollar wilted. Mazeau noted silver linings—weak dollars boost non-U.S. wealth. But American real estate? Still standing. Equities might inch up. “Not dead,” he repeated. Like a mantra .

Real Estate’s Grit

Homes brawled with inflation. Won. Property values muscled up global wealth—684,000 new millionaires worldwide owe keys to this . North America averaged $593,347 per adult. Oceania trailed by $90,600. Bricks and mortar outpunched stocks this round.

Everyday Millionaires

52 million people hold $1M-$5M. UBS dubs them “everyday millionaires.” Their combined wealth tops all billionaires. Mazeau growled: “Overlooked. Every damn time.” These are teachers, contractors, small biz owners. Not yacht collectors .

The Next Five Years

UBS projects 5.34 million more millionaires by 2029. North America and Greater China will drive this. But 2025? A speed bump. Recession fears. Dollar dips. Yet the machine grinds forward .

Frequently Asked Questions

How many millionaires did the U.S. add daily in 2024?Over 1,000—totaling 379,000 for the year .

Which country had the fastest millionaire growth?Turkey’s millionaire count surged 8.4% .

Did all countries gain millionaires in 2024?No. Japan lost 33,000 due to population decline .

What threatens 2025 wealth growth?Trade wars, dollar volatility, and recession fears .

Who are "everyday millionaires"?Individuals with $1M-$5M net worth—52 million globally, overshadowing billionaire wealth .