U.S. Adds Over 190,000 New Millionaires in Six Months Amid Surging Market Confidence
The United States has reportedly added over 190,000 new millionaires in just the past six months, according to new data reflecting the country’s continued wealth expansion driven by a booming stock market and strong performance in key sectors like technology and artificial intelligence.
This surge places the U.S. far ahead of other countries in terms of wealth creation, solidifying its position as the nation with the highest number of millionaires globally. Current estimates show that nearly 40 percent of the world’s millionaires reside in the United States, with the country now home to over 23.8 million individuals whose net worth exceeds $1 million.
Analysts point to a range of factors driving this trend. The rebound in global markets post-pandemic, strong investor confidence, and record performance in the tech and AI sectors contributed significantly to the rapid accumulation of wealth among U.S. residents. According to the UBS 2025 Global Wealth Report, the United States added an average of over 1,000 new millionaires daily throughout 2024 amounting to nearly 379,000 for the full year. Capgemini’s World Wealth Report places the number even higher at around 562,000 new millionaires in 2024 alone.
Although the figure of 190,000 new millionaires in six months has circulated widely, it likely reflects a conservative snapshot of a broader upward trend. Based on annual projections, the actual six-month figure may be significantly higher.
Beyond just numbers, the rise in millionaire population also reflects a widening wealth gap. While a growing class of wealthy Americans continues to thrive, many middle- and lower-income earners remain burdened by inflation, housing unaffordability, and rising costs of living raising fresh concerns about economic inequality.
Despite this, the outlook for continued wealth generation remains strong. Market analysts predict that global wealth will continue rising over the next five years, with the U.S. expected to lead that growth. UBS projects an addition of 5.3 million new millionaires globally by 2029, a sizable portion of which is expected to come from North America.
The data highlights a defining feature of the U.S. economy: a dynamic environment where innovation, investment, and capital access continue to create unprecedented opportunities for wealth accumulation albeit unevenly distributed.
