America's Cashception: Experts Predict a Millionaire Explosion
Staggering Amount of New Millionaires Emerge in US During 2024, According to Research
MacroVisor co-founder Ayesha Tariq shares insights on the thriving U.S. liquidity scene on 'Making Money.'
Last year, the United States witnessed a flood of new millionaires.
According to UBS' Global Wealth Report 2025, released Wednesday, 2024 witnessed the creation of over 379,000 new American millionaires. This figure represents the highest addition of millionaires "in absolute growth terms" across numerous international markets, with over 1,000 individuals a day joining the millionaire club [1][4].
Pedestrians pass an American flag outside the New York Stock Exchange in New York, 2016. (Michael Nagle/Bloomberg via Getty Images / Getty Images)
The total number of U.S. millionaires swelled by 1.5% in 2024, hitting an impressive 23.8 million [1]. In global terms, this represents a whopping 40% of the world's millionaire population, vastly surpassing the numbers in China, France, Japan, and Germany [1][3].
*MILLIONAIRE MIGRATION: YA'LL GON' WANNA BE IN MIAMI*
The growth in millionaire numbers comes as no surprise, given the robust health of the American economy. This has been driven by factors like a stable U.S. dollar, soaring financial markets, and a booming stock exchange [1][2]. Regional wealth distribution shows the Americas leading the pack with an average wealth per adult of $311,846[1]. Compared to Europe, the Middle East, and Africa at $167,696 per adult, and Asia-Pacific at $66,808, North America stands out as the wealthiest subregion [1].
UBS forecasts North America and Greater China as the primary catalysts for global wealth growth in the coming five years, with the U.S. poised to create an additional 5.34 million millionaires by 2029 [1][4]. This suggests continued expansion of the millionaire demographic in the U.S. through 2029, a trends that's likely to keep America atop the world's wealth hierarchy.
Talking solutions on #MakingMoney with Ayesha Tariq, co-founder of MacroVisor.
Stay tuned for more insights on "Making Money," as experts unpack the forces shaping the global economy.
[1] UBS Global Wealth Report 2025[2] CNN Business[3] Forbes[4] Fortune Magazine
- The robust health of America's economy, characterized by a stable dollar, soaring financial markets, and a booming stock exchange, is driving the growth in the number of millionaires in the country.
- According to UBS' Global Wealth Report 2025, the United States is predicted to create an additional 5.34 million millionaires by 2029, making North America and Greater China the primary catalysts for global wealth growth in the coming years.
- Personal finance management becomes increasingly important as wealth accumulation continues, with a growing number of individuals looking to make informed decisions about investing and growing their wealth in the thriving U.S. business and finance markets.
