Last year, wealth grew disproportionately and quickly in the US, where more than 379,000 people became new millionaires, or more than 1,000 a day, a report published yesterday showed.
Private individuals’ net worth rose 4.6 percent worldwide, and by more than 11 percent in the Americas, driven by a stable US dollar and upbeat financial markets, the 2025 Global Wealth Report by UBS Group AG found.
The US accounted for almost 40 percent of global millionaires last year.
Photo: Reuters
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 China, Hong Kong and Taiwan — led last year for people with a net worth of US$100,000 to US$1 million, accounting for 28.2 percent, followed by Western Europe with 25.4 percent and North America with 20.9 percent.
However, the majority of people worldwide were below that threshold, with more than 80 percent of adults in the UBS sample having a net worth of under US$100,000. Overall, about 1.6 percent 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 US and, to a lesser extent, Greater China.
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