America's Millionaire Count Took a Leap Last Year

America's seven-figure army grew more robust last year, according to Capgemini's 2025 World Wealth Report. The report, which logs the number of people around the globe with at least $1 million in investable assets excluding their primary residence, says the US gained 562,000 millionaires (or new high-net-worth individuals, aka HNWIs) in 2024. By the numbers:

• Planetwide, the number of millionaires grew by 2.6% in 2024, reports Bloomberg.
• The US gain equated to a 7.6% increase from the previous year.
• The number of global millionaires now stands at 23.4 million; 7.9 million of them are in the US, reports Quartz.
• India and Japan also added new millionaires, but plenty of regions lost them. Europe saw a 2.1% decrease overall, with the combined population in the UK, France, and Germany dropping by 75,000 millionaires. Brazil and Mexico were hard hit, down 13.3% and 13.5%, respectively. The Middle East also saw a 2.1% drop attributed to decreasing oil prices.

• Quartz notes Capgemini also pointed out the rich will soon get richer, noting that "30% of HNWIs will receive an inheritance by the end of 2030, 63% will inherit wealth by the end of 2035, and 84% by 2040."
• As for the richer among us, Fortune reports Capgemini also found the number of ultra-high-net-worth individuals—those with at least $30 million liquid—increased by 6.2%.
• As for the main driver, Fortune offers this: "The surge is thanks largely to 2024's strong stock market returns, which was powered in particular by optimism over artificial intelligence stocks."

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