The U.S. minted 1,000 new millionaires each day last year, UBS report says

The U.S. minted 1,000 new millionaires each day last year, according to a new report from investment bank UBS.

The nation outpaced other countries in wealth growth during 2024, with more than 379,000 people becoming U.S. dollar millionaires for the first time, according to UBS' annual Global Wealth Report, which analyzed individual wealth across 56 markets.

U.S. residents accounted for more than half of all new millionaires created across the globe in 2024. The surge in American millionaires was bolstered by robust stock market returns, with the S&P 500 jumping more than 23% last year.