The US witnessed an unprecedented rise in millionaires last year, with over 379,000 individuals becoming millionaires, according to a new report from UBS. This surge can be attributed to the significant growth of stocks, which led to a 4.6% increase in global wealth.
The global wealth report also revealed that 684,000 millionaires were created worldwide in 2024, with the majority concentrated in the US. The report notes that while there was an overall increase in wealth, it was not uniform and was largely driven by growth in the US market.
Source: https://www.bloomberg.com/news/articles/2025-06-18/surging-stocks-helped-us-add-more-than-379-000-millionaires-last-year