U.S. Creates Record Number of Millionaires in 2025
The United States added over 440,000 millionaires in 2025, averaging more than 1,200 per day, according to the UBS Global Wealth Report 2026. This brought the total number of Americans with a net worth of at least $1 million to over 23.6 million, representing nearly half of all new global millionaires last year. However, wealth distribution remains uneven; while average household wealth increased by almost 10% since 2020, median wealth fell nearly 20%. Inflation has also reduced the real value of a $1 million net worth over time. Much of this newfound wealth is tied to financial assets rather than physical property. Financial assets now account for about 79% of U.S. gross household wealth. The Federal Reserve reported that total household and nonprofit net worth rose by $12.8 trillion in Q2 2026, largely due to gains from equities. BlackRock saw significant inflows into its iShares ETFs during the third quarter, with over $135 billion coming in as investors increasingly favor index funds. Wealth accumulation is also being driven by retirement savings vehicles like 401(k)s. Fidelity Investments reported a record number of 769,000 millionaires through these accounts in Q2 2026.
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Topics: financial services inflation millionaires UBS report wealth