The United States boasts the world's largest millionaire population, reaching 23.8 million in 2024, a 1.5% increase fueled by a strong stock market and stable dollar, according to UBS. China follows with 6.3 million millionaires. While the first half of 2025 saw market volatility due to trade tensions and recession fears, UBS economist James Mazeau notes that the impact on U.S. wealth growth remains uncertain, citing resilient real estate and potential equity gains.

Prepared by Christopher Adams and reviewed by editorial team.