America Minting 1,000 New Millionaires a Day
The United States created over 1,000 new millionaires every single day in 2024—379,000 people who crossed the seven-figure threshold, accounting for more than half of all new millionaires created globally.
This wealth explosion, driven by the S&P 500’s 25% gain and Nasdaq’s 30% leap, means that now, “everyday millionaires” with $1 million to $5 million in assets collectively control more wealth than all the world’s billionaires combined.
While just 15 centibillionaires control $2.4 trillion in assets, women are positioned to be the biggest winners in the coming “Great Wealth Transfer” of $83 trillion expected to pass between generations over the next 20 years.
America now hosts nearly 40% of the world’s 60 million millionaires, but the tiny countries of Luxembourg and Switzerland still boast the highest concentrations, where more than one in seven adults is a millionaire