The world becomes richer in 2024 – in the United States, the new millionaires have more than 1,000 times a day.
That’s from UBS 2025 Global Wealth ReportThis highlights the growing importance of “everyday millionaire” or “Emillis” defined as an individual with $1 million to $5 million in assets.
Since 2000, the number of these so-called Emillis has exceeded three times, with 52 million people worldwide reaching 52 million, with a total wealth of US$107 trillion. This is almost with the $119 trillion held by individuals worth more than $5 million.
The U.S. sees growth in stock market growth
Overall, global personal wealth grew 4.6% in 2024, surpassing the previous year’s 4.2%. However, growth is uneven and North America leads. The booming financial markets have driven U.S. wealth levels by more than 11%, accounting for a large share of the global rebound. Given the returns from major U.S. indexes, which include 25% of the S&P 500, and a 30% leap in the technology heavy-duty Nasdaq Comprehensive.
On the other hand, stock market returns were weaker, and wealth in regions such as Western Europe and Latin America declined relatively.
The number of billionaires has also increased
The number of billionaires worldwide has also increased, but has not reached the same rate.
Ubs won nearly 3,000 assets with assets of more than $1 billion by the end of 2024, a slight increase from last year. Most people hold $1 billion to $49 billion, and only 31 hold more than $50 billion in assets.
The report also highlights a long-term fact: Wealth and income are not the same thing. Although salaries can affect public perceptions of prosperity, long-term wealth depends more on inheritance, market acquisition, real estate value and complex capital. This explains why some high-income countries use wealth terminology to fall below their weight, while others show surprising levels of private wealth relative to their earnings.
How women will benefit from “huge transfer of wealth”
Looking to the future, UBS believes that what is called a “huge wealth transfer”, among which $83 trillion It is expected to transfer from the older generation to its heirs in the next 20 years, which may be underway.
Expecting women to benefit disproportionately, especially in the United States, as women tend to surpass men and benefit from two major transfers, from parents to children to another spouse to another, over the next few decades, women may control more and more of us American and global wealth.
Health & Wellness Contributor
A wellness enthusiast and certified nutrition advisor, Meera covers everything from healthy living tips to medical breakthroughs. Her articles aim to inform and inspire readers to live better every day.
