America's Millionaire Dominance: The U.S. Leads in Wealth Concentration, While Most People Worldwide Remain Under $100,000
Daily increase of over 1,000 millionaire households in the U.S. observed in the previous year, according to recent data.
Reported by Reuters, ZURICH, Switzerland
In a stark contrast, wealth grew disproportionately in the US last year with over 379,000 individuals becoming new millionaires, or more than 1,000 a day. As per the 2025 Global Wealth Report by UBS Group AG, the US accounted for almost 40 percent of global millionaires, and the private individuals' net worth increased by 4.6 percent worldwide.
The US's wealth boom is driven by a stable US dollar and upbeat financial markets, resulting in a global wealth increase of more than 11 percent in the Americas. Europe, the Middle East, and Africa lead a rebound in global wealth after a decline in 2022.
However, contrary to this wealth concentration, the majority of the global population, more than 80 percent, still has a net worth of under $100,000.
US Millionaire Hubs
The US is home to millions of millionaires, with major hubs including:
- New York City: Known as the millionaire capital, NYC has around 384,500 millionaires, including a significant number of centi-millionaires and billionaires.
- San Francisco Bay Area: With 342,400 millionaires and 82 billionaires, the SF Bay Area, including Silicon Valley, boasts tech-industry wealth creation, witnessing a 98% growth in millionaires over the past decade.
- Los Angeles: Ranking 5th globally, LA has 22,600 millionaires and 45 billionaires, supported by diverse industries such as entertainment, real estate, and tech.
Other US cities with substantial millionaire populations include Chicago, Houston, Dallas, Seattle, Boston, Miami, Austin, Washington D.C., Atlanta, Denver, Tampa, Sarasota, Montecito, and Pebble Beach.
Emerging Millionaire Hubs
While wealth migrates to these cities, the majority of the global population still has a net worth below $100,000. Major emerging millionaire hubs include:
- India: With a sharp rise in millionaires, especially in tech and startup centers like Bangalore and Mumbai, India is experiencing economic growth.
- Brazil: Despite political fluctuations, Brazil attracts wealth through renewable energy investments and real estate.
- United Arab Emirates (UAE), particularly Dubai, welcomes crypto millionaires and wealthy expatriates with zero personal income tax and a favorable business environment.
Wealth disparity remains prevalent even within these hubs, with cities like Atlanta featuring large portions of the population holding modest net worths.
In summary, top regions with the highest concentration of millionaires in 2025 are US metropolitan areas, major Chinese cities, and emerging hubs. Despite this concentration of wealth, the majority of people globally continue to have a net worth below $100,000, illustrating persistent wealth disparity within and across these regions.
In the US, the growth in wealth has been significant, with over 1,000 new millionaires each day, contributing to the country's dominance in global millionaire count. Notably, major US cities like New York City, San Francisco Bay Area, and Los Angeles have emerged as millionaire hubs, particularly in the technology and finance sectors.
Conversely, a majority of the global population still holds a net worth below $100,000, with emerging millionaire hubs such as India, Brazil, and the United Arab Emirates (UAE) experiencing economic growth amidst persistent wealth disparity.
