1,000 millionaires a day: US added 379K people in 2024; holds 40% of world's total
.
More than 379,000 people in the United States became US dollar millionaires last year—an average of over 1,000 every day. This made America the country with the highest number of new millionaires, according to the latest Global Wealth Report by Swiss bank UBS.
The country now holds nearly 40% of the world's total millionaires.
The increase in wealth was mainly driven by strong stock market performance and a stable US dollar. The S&P 500 index rose over 23% last year, boosting the value of investments and assets. Across the world, personal wealth grew by 4.6%, but the Americas saw an even bigger jump of more than 11%. That sharp rise made the region stand out compared to Europe, Asia, and other parts of the world.
The global disparity
Despite the increase in millionaires, most people across the world have far less wealth. According to the report, over 80% of adults have a net worth of under $100,000. Only about 1.6% of the global adult population is worth $1 million or more.
Greater China—which includes mainland China, Hong Kong, and Taiwan—had the highest number of people with net worths between $100,000 and $1 million. Western Europe and North America followed.
by Taboola
by Taboola
Sponsored Links
Sponsored Links
Promoted Links
Promoted Links
You May Like
임플란트, 지금 시작하세요 [자세히 보기]
임플란트
더 알아보기
Undo
The report also explains that 'net worth' includes the value of all financial and real assets, such as property, minus any debts. In the Americas, the average wealth per adult by the end of 2024 was around $312,000—far lower than the millionaire mark, showing that large wealth gains remain limited to a small group.
UBS expects personal wealth to keep rising in the coming years, led by continued growth in the US and parts of Asia. By 2029, the bank estimates that over 5 million more people around the world will join the ranks of millionaires.
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
India.com
27 minutes ago
- India.com
Have 4 wives, owns 38 private jets, 300 cars, 52 golden boats and..., he is world's richest king, his name is..., not richer than Mukesh Ambani, Adani
Have 4 wives, owns 38 private jets, 300 cars, 52 golden boats and..., this is world's richest king, his name is..., not richer than Mukesh Ambani, Adani There are many billionaires across the world, but very few live as richly and royally as King Maha Vajiralongkorn of Thailand, also known as King Rama X. According to The Business Standard , he is believed to be the richest king in the world, with an estimated wealth of around Rs 3.7 lakh crore (which is about 43 billion US dollars). Where does his wealth come from King Vajiralongkorn didn't make his money like most businesspeople. His wealth comes from centuries of royal inheritance, and it grew even more after his father, King Bhumibol Adulyadej, passed away in 2016. Since then, he has made major investments in some of Thailand's biggest companies and owns a lot of valuable land and buildings. In fact he owns more than 17,000 properties in Bangkok alone which makes him one of the largest landowners in Thailand. These include hotels, old palaces, and commercial buildings, many of which earn large amounts of rent. A life of extreme luxury King Vajiralongkorn lives a life of true royal luxury. His collection includes: Over 300 luxury cars 38 private jets A fleet of 52 golden boats used for special royal events These boats are not for travel, but part of grand traditional ceremonies, showing the rich culture of Thailand's royal family. A royal with military training Born in 1952, he is the only son of King Bhumibol and Queen Sirikit. Raised from an early age to take over the throne, he was given elite military training abroad, where he studied in the United Kingdom and then at the University of New South Wales in Australia, graduating in military studies. He also had pilot training and served with the Royal Thai Army, where he saw action in counter-insurgency campaigns during the politically charged 1970s. A controversial figure Even though his personal life has been full of headlines, he has been married four times and often attracts media attention. Out of the four, three of them ended in divorce and have been the subject of tabloid headlines. He also remains an important and powerful figure in Thailand. He represents both the rich royal tradition and the modern face of the monarchy. Meanwhile, in India… India's richest people are well-known business tycoons. As of May 2025, Mukesh Ambani is the richest Indian, with a net worth of about 92.5 billion dollars. Gautam Adani is second with 56.3 billion dollars, with businesses in ports, energy, and infrastructure. But even compared to these corporate giants, King Vajiralongkorn stands out—not just for his huge fortune, but for a lifestyle filled with palaces, private jets, golden boats, and royal ceremonies that few others in the world can match.
Time of India
32 minutes ago
- Time of India
TI Clean Mobility eyes $1 bn turnover in 4-5 years
Murugappa Group firm TI Clean Mobility is targeting a turnover of USD 1 billion in the next 4-5 years for which it will fast-track introduction of new electric vehicles , its Managing Director Jalaj Gupta said on Friday. The company, which sells a range of electric vehicles, including heavy and small commercial vehicles, tractor and passenger three-wheelers under the 'Montra Electric' brand on Friday announced its foray into three-wheeler cargo segment . "Our larger objective is to be a USD 1 billion turnover (firm) all put together... We are looking at a time frame of four to five years, FY29 or FY30, to achieve this," Gupta told PTI here. Play Video Pause Skip Backward Skip Forward Unmute Current Time 0:00 / Duration 0:00 Loaded : 0% 0:00 Stream Type LIVE Seek to live, currently behind live LIVE Remaining Time - 0:00 1x Playback Rate Chapters Chapters Descriptions descriptions off , selected Captions captions settings , opens captions settings dialog captions off , selected Audio Track Picture-in-Picture Fullscreen This is a modal window. Beginning of dialog window. Escape will cancel and close the window. Text Color White Black Red Green Blue Yellow Magenta Cyan Opacity Opaque Semi-Transparent Text Background Color Black White Red Green Blue Yellow Magenta Cyan Opacity Opaque Semi-Transparent Transparent Caption Area Background Color Black White Red Green Blue Yellow Magenta Cyan Opacity Transparent Semi-Transparent Opaque Font Size 50% 75% 100% 125% 150% 175% 200% 300% 400% Text Edge Style None Raised Depressed Uniform Drop shadow Font Family Proportional Sans-Serif Monospace Sans-Serif Proportional Serif Monospace Serif Casual Script Small Caps Reset restore all settings to the default values Done Close Modal Dialog End of dialog window. EV calculator How much will I save if I choose an electric vehicle? SELECT vehicle type Calculate by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Play War Thunder now for free War Thunder Play Now Undo In FY25, he said the company clocked a consolidated turnover of Rs 650 crore. The company has completed raising of Rs 3,000 crore and currently investments are ongoing in various aspects, including new product development, he added. Live Events In the next 6 to 12 months, he said the company is looking at adding an electric tractor in the 40-50 horse power (HP) segment to the existing 27 HP. Besides, the company is planning to launch variants in the heavy commercial vehicle (HCV) segment, inducing tippers. In the small vehicle segment (SCV), Gupta said TI Clean Mobility Pvt Ltd (TICMPL) is looking at electric ambulance to tap opportunity of subsidy offered by the government, besides electric bus on its existing 3.5 tonne platform. As for electric three-wheelers, the company will look at entering e-rickshaw segment, while also considering to offer "either a lower or higher battery" option over and above its existing 10.6 kilowatt battery that powers the passenger autorickshaw at present, Gupta said. On its USD 1 billion target, he said, "About 50 per cent should be coming from the HCV, 20 per cent from SCV, 20 per cent from three-wheeler and 10 per cent from tractor business." Further, Gupta said TICMPL has invested in four manufacturing units -- three in and around Chennai and one in Manesar, Haryana -- to produce its range of electric vehicles. "We have already created capacities which we feel are sufficient to take care of at least next couple of years," he noted. The HCV facility at Manesar has an annual capacity of up to 6,000 units. For SCV, the company has an annual capacity of 50,000 units and the three-wheeler capacity is 70,000 units across passenger and cargo variants. Gupta said the company's electric tractor production capacity is 25,000 units per annum. TICMPL's new electric three-wheeler SUPER CARGO prices start at Rs 4.37 lakh (ex-showroom Delhi, post-subsidy) and marks the company's entry in the highly strategic last-mile delivery space. It has a range of over 200 km on standard testing conditions and real-life range of 170 km, the company said. It is powered by a 13.8 kWh lithium-ion battery and will also be available with a 15-minute 100 per cent charging option. In the three-wheeler segment, the company has a presence in 101 different markets in India and plans to reach 150 markets in FY26. It has sold over 10,000 units so far.
Time of India
43 minutes ago
- Time of India
Sun TV Network defends promoter Kalanithi, says all legal obligations met
Sun TV Network refuted allegations of "fraudulent practices" and "misgovernance" made by Dayanidhi Maran against his brother Kalanithi, emphasizing that the family division 22 years ago complied with all legal requirements. NEW DELHI: A day after reports emerged of former Union minister Dayanidhi Maran accusing his brother of "fraudulent practices" and "misgovernance", the elder sibling Kalanithi-run Sun TV on Friday said the division between the promoter family done 22 years back was in compliance with all legal obligations. Defending its promoter Kalanithi, Sun TV Network in a regulatory filing said the agreements between the two brothers had been "duly vetted" by "intermediaries" concerned before the company's public issue. According to reports, Dayanidhi has sent a legal notice to his brother and several others, accusing them of "fraudulent practices" and "misgovernance" in taking control of Sun TV after their father Murasoli Maran's death in 2003. Dayanidhi, who is also a Lok Sabha member from the Dravida Munnetra Kazhagam (DMK), has sought to restore the company's shareholding structure to its pre-September 2003 status. The board of Sun TV Network is led by Kalanithi as Executive Director and Chairperson. His daughter Kavya Kalanithi Maran is also on the south-based broadcaster board. Kalanithi, as a promoter, owns 75 per cent shareholding in Sun TV Network. On Friday, Sun TV Network, in its regulatory filing said, "The alleged matter dates back to 22 years when the company was a closely held private limited company." by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Memperdagangkan CFD Emas dengan salah satu spread terendah? IC Markets Mendaftar Undo Defending the promoter, it further stated, "Statements allegedly made in the articles are incorrect, misleading, speculating, defamatory and not supported by facts or law". "We wish to inform that all acts have been done in accordance with legal obligations and the same had been duly vetted by concerned intermediaries before the public issue of the company," it said. Moreover, Sun TV Network also said the media reports claiming a rift between the promoter Maran brothers "does not have any bearing on the business of the company or its day-to-day functioning". Sun TV Network also clarified that it is a "family matter of the promoter" and is "purely personal in nature". Besides Kalanithi, financial institutions, including mutual funds and insurance companies, own 10.46 per cent of the shareholding of Sun TV and 6.87 per cent by the foreign portfolio investors. Chennai-based Sun TV Network is among India's leading media conglomerates, having 37 television channels in seven languages, with a reach of more than 140 million households in India. Besides, it also owns Sun Direct, a DTH (direct-to-home) platform and operates 69 FM radio stations under the brand names -- Suryan FM, RED FM and Magic FM. It also operates three daily newspapers and six magazines. In addition, Sun TV Network owns the Sunrisers Hyderabad franchise of the Indian Premier League and Sunrisers Eastern Cape of Cricket South Africa's T20 League. For the 2024-25 financial year, the network's total consolidated income was Rs 4,712.60 crore, down 1.55 per cent. Its profit after tax was down 11.53 per cent to Rs 1,703.64 crore, against Rs 1,925.80 crore a year earlier.
