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Fed’s Hammack Says Bond Yield Surge Is Not Driven by Inflation Fears 
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Asian Stocks Fall as Bond Yields Surge Ahead of Trump-Xi Summit 
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Wealth surged globally in 2024, with the United States seeing the largest jump in millionaires, according to the 2025 Global Wealth Report by UBS. Over 379,000 individuals became new U.S. dollar millionaires—more than 1,000 per day—pushing the U.S. share of global millionaires to nearly 40%. The rise was fueled by strong financial markets and a stable dollar, helping net worth in the Americas grow by more than 11%, compared to a 4.6% global increase.
The report also highlighted a regional shift in wealth dynamics. While Europe, the Middle East, and Africa led the rebound in 2023, the United States reclaimed the top spot in 2024. Greater China—which includes mainland China, Hong Kong, and Taiwan—led in the number of individuals with net worths between $100,000 and $1 million, accounting for 28.2% of that group. Western Europe followed at 25.4%, with North America at 20.9%.
Despite the gains among the wealthy, the majority of adults globally remain far below millionaire status. Over 80% of adults in UBS’s dataset had a net worth under $100,000, while just 1.6% held assets worth $1 million or more.
Looking ahead, UBS forecasts continued wealth growth through 2029, with the U.S. expected to remain the top driver, followed by Greater China. This trend underscores the ongoing concentration of wealth in economically dominant regions, especially amid global financial market resilience.
The report positions the United States not only as the leader in millionaire growth but also as a continued engine for global wealth expansion, reinforcing its dominance in the financial landscape.
