{"id":11280,"date":"2025-03-06T17:12:10","date_gmt":"2025-03-06T17:12:10","guid":{"rendered":"https:\/\/finderica.com\/?p=11280"},"modified":"2025-03-06T17:12:10","modified_gmt":"2025-03-06T17:12:10","slug":"wealth-creation-is-booming-as-u-s-multimillionaire-population-jumps","status":"publish","type":"post","link":"https:\/\/finderica.com\/?p=11280","title":{"rendered":"Wealth creation is booming as U.S. multimillionaire population jumps"},"content":{"rendered":"
<\/span><\/p>\n
\n
\n
\n
\n
<\/span><\/span><\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n
\n

When it comes to the rise of multimillionaires, the United States is leading the charge, a new report found.<\/p>\n

The number of high-net-worth individuals \u2014 or those with assets worth more than $10 million \u2014 rose 4.4% worldwide in 2024, to 2,341,378, but jumped 5.2% in North America, according to the annual\u00a0Wealth Report<\/a>\u00a0by global real estate consultancy Knight Frank.<\/p>\n

The U.S. is now home to almost 40% of the world’s super rich, the report estimates \u2014<\/em> nearly double the share that resides in China, the region with the next highest contingent of wealthy individuals.<\/p>\n

More from Personal Finance:
<\/strong>Americans are suffering from ‘sticker shock’
The U.S. is appointing an ‘affordability czar’\u00a0
Canada, Mexico tariffs create ‘ripple effects’ on consumer prices<\/p>\n

“While the global economy slowed through 2024, the resilience of the U.S. helped prop up investor confidence,” Liam Bailey, global head of research at Knight Frank, said in a statement. “The trends powering wealth creation, including growth in financial markets led by equity markets and the bitcoin run, continued through 2024.”<\/p>\n

Over the year, positive market conditions helped boost investors’ bottom line. The S&P 500 stock index gained 23% in 2024. The tech-heavy\u00a0Nasdaq\u00a0grew about 29% and the\u00a0Dow Jones Industrial Average\u00a0rose more than 12%.<\/p>\n

“And despite geopolitical tensions, resilient global trade further contributed to growth,” Bailey said.<\/p>\n<\/div>\n

<\/a>The rich are\u00a0getting richer<\/h2>\n
\n

After increasing 4.2% in 2024, the population of global citizens worth at least $100 million surpassed the 100,000 mark for the first time, Knight Frank also found.<\/p>\n

Meanwhile, the total number of billionaires jumped nearly 8% last year, according to a separate report by Oxfam from January<\/a>.<\/p>\n

“We’ve reached a new era now, we are in the era of the billionaire,” Jenny Ricks, general secretary of the human rights group Fight Inequality Alliance, recently told CNBC.\u00a0<\/p>\n<\/div>\n

\n

Roughly 204 new billionaires were minted in just 12 months, the Oxfam report found.<\/p>\n

“Not only has the rate of billionaire wealth accumulation accelerated \u2014 by three times \u2014 but so too has their power,” Amitabh Behar, Oxfam International’s executive director, said in a statement after the report’s release.<\/p>\n

The latest numbers also underscore a deepening divide between the world’s rich and poor.\u00a0<\/p>\n

Despite the fact that America ranks\u00a0first<\/a>\u00a0as the richest nation, 36.8 million\u00a0Americans\u00a0live in poverty, accounting for\u00a011.1%<\/a>\u00a0of the total population, according to the latest report from the U.S. Census Bureau.\u00a0<\/p>\n

Many middle-class Americans are also showing signs of strain amid\u00a0the escalating trade war\u00a0<\/a>and increased inflationary fears.<\/p>\n<\/div>\n

\n
\n
\n
\n

Don\u2019t miss these insights from CNBC PRO<\/h2>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n

Source link <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

When it comes to the rise of multimillionaires, the United States is leading the charge, a new report found. The number of high-net-worth individuals \u2014 or those with assets worth more than $10 million \u2014 rose 4.4% worldwide in 2024, to 2,341,378, but jumped 5.2% in North America, according to the annual\u00a0Wealth Report\u00a0by global real<\/p>\n","protected":false},"author":1,"featured_media":11281,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"rank_math_lock_modified_date":false,"footnotes":""},"categories":[196],"tags":[4626,4625,2388,4627,3312,272,1020],"class_list":{"0":"post-11280","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-finance-news","8":"tag-booming","9":"tag-creation","10":"tag-jumps","11":"tag-multimillionaire","12":"tag-population","13":"tag-u-s","14":"tag-wealth"},"_links":{"self":[{"href":"https:\/\/finderica.com\/index.php?rest_route=\/wp\/v2\/posts\/11280","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/finderica.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/finderica.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/finderica.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/finderica.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=11280"}],"version-history":[{"count":0,"href":"https:\/\/finderica.com\/index.php?rest_route=\/wp\/v2\/posts\/11280\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/finderica.com\/index.php?rest_route=\/wp\/v2\/media\/11281"}],"wp:attachment":[{"href":"https:\/\/finderica.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=11280"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/finderica.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=11280"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/finderica.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=11280"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}