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.