Jul 12, 2026
More than 1,200 people per day became millionaires in America in 2025, according to an annual report on wealth from UBS. Globally, 2,600 people per day hit the milestone.
In fact, out of the top 10 countries with millionaires in the world, there are more millionaires in the U.S. than the next nine countries combined. And that number is increasing at a steady rate.
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The extended bullish nature of world markets has resulted in a big global rise in millionaires. Overall, global personal wealth was up 10.8% last year, more than double the pace seen in 2024 (4.6%) and 2023 (4.2%).
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“Global wealth rose for a third consecutive year — and at a notably stronger pace, with average individual wealth increasing at a rate far outstripping global economic growth,” said Robert Karofsky, Co-President UBS Global Wealth Management. “In this environment, disciplined stewardship matters more than ever.”
America created the most millionaires, but not the fastest-growing wealth
While America saw the most new millionaires, the biggest wealth growth took place overseas. Europe, the Middle East and Africa saw an average growth rate of 17.5%. The Americas came in at 8.5%. And the Asia-Pacific region saw wealth growth of 5.9%.
And when broken down by average wealth per adult, it wasn’t the U.S. on top, but Switzerland, which landed at $910,382. (The U.S. was second, followed by Luxembourg.)
Those rankings underscore that having the most millionaires doesn’t necessarily translate into the highest average wealth per person.
In the U.S., the spread of that new wealth hasn’t been across the board. While the average wealth of Americans has climbed nearly 10% since 2020, median wealth (the point between the richest and poorest people) has fallen by nearly 20%.
To put it in perspective, the average wealth in the U.S. last year was $696,277, ranking second in the world. The median wealth, though, was just $58.998, which only ranked 28th.
The gap between average and median wealth suggests that much of the recent wealth growth has accrued to higher-net-worth households, rather than being evenly distributed across the population.
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Most Americans are still a long way from millionaire status
Despite the rapid growth in the number of millionaires, most Americans remain far from accumulating the wealth they believe they’ll need for retirement.
A 2025 survey by Northwestern Mutual found that most Americans believed they needed $1.26 million to retire comfortably. That’s far above most American’s median net worth.
According to the Federal Reserve’s 2022 Survey of Consumer Finances, median net worth by age was:
- Under 35, about $39,000
- Ages 35–44, about $135,000
- Ages 45–54, about $247,000
- Ages 55–64, about $364,000
- Ages 65–74, about $410,000
The surge in new millionaires shows that wealth creation remains strong, particularly for households benefiting from rising asset prices. But for most Americans, building enough wealth for retirement remains a much longer-term goal, underscoring the gap between headline-grabbing gains and the financial reality many families still face.
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Chris Morris is a veteran journalist with more than 35 years of experience at many of the internet's biggest news outlets. In addition to his activities as a writer, reporter and editor, Chris is also a frequent panel moderator and speaker at major conferences, including CES and South by Southwest.
