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.
Taichung reported the steepest fall in completed home prices among the six special municipalities in the first quarter of this year, data compiled by Taiwan Realty Co (台灣房屋) showed yesterday. From January through last month, the average transaction price for completed homes in Taichung fell 8 percent from a year earlier to NT$299,000 (US$9,483) per ping (3.3m²), said Taiwan Realty, which compiled the data based on the government’s price registration platform. The decline could be attributed to many home buyers choosing relatively affordable used homes to live in themselves, instead of newly built homes in the city’s prime property market, Taiwan Realty
The government yesterday approved applications by Alphabet Inc’s Google to invest NT$27.08 billion (US$859.98 million) in Taiwan, the Ministry of Economic Affairs said in a statement. The Department of Investment Review approved two investments proposed by Google, with much of the funds to be used for data processing and electronic information supply services, as well as inventory procurement businesses in the semiconductor field, the ministry said. It marks the second consecutive year that Google has applied to increase its investment in Taiwan. Google plans to infuse NT$25.34 billion into Charter Investments Ltd (特許投資顧問) through its Singapore-based subsidiary Fructan Holdings Singapore Pte Ltd, and
Micron Technology Inc is a driving force pushing the US Congress to pass legislation that would put new export restrictions on equipment its Chinese competitors use to make their chips, according to people familiar with the matter. A US House of Representatives panel yesterday was to vote on the “MATCH Act,” a bill designed to close gaps in restrictions on chipmaking equipment. It would also pressure foreign companies that sell equipment to Chinese chipmaking facilities to align with export curbs on US companies like Lam Research Corp and Applied Materials Inc. The bill targets facilities operated by China’s ChangXin Memory Technologies Inc
Japan’s reliance on the Middle East for aluminum is forcing companies to cut back on production and scramble for alternative supply sources after key shipping routes were severed due to the Iran conflict. Among the most exposed are auto and parts makers such as Toyota Motor Corp and Denso Corp. Domestic automakers get about 70 percent of their aluminum imports from the Middle East, the nation’s top auto lobby said. The price of the lightweight alloy — used in everything from engine parts to wheels — has jumped about 13 percent since hostilities started in late February. “It’s only been a month, but it’s
RSS