Wealth grew disproportionately quickly in 2024 in the U.S., where over 379,000 people became new U.S. dollar millionaires, or more than 1,000 a day, according to a report by banking giant UBS published on Wednesday.

Private individuals' net worth rose 4.6% worldwide, and by over 11% in the Americas, driven by a stable U.S. dollar and upbeat financial markets, the 2025 Global Wealth Report by UBS found. The United States accounted for almost 40% of global millionaires in 2024.

In 2023, Europe, the Middle East and Africa led a rebound in global wealth after a decline in 2022.

Greater China, which the report defined as mainland China, Hong Kong and Taiwan, led last year for individuals with a net worth of $100,000 to $1 million, accounting for 28.2%, followed by Western Europe with 25.4% and North America with 20.9%.

The majority of people worldwide were below that threshold, however, with over 80% of adults in the UBS sample having a net worth of under $100,000. Overall, about 1.6% registered a net worth of $1 million or more, the report said.

Over the next five years, the Swiss bank projects average wealth per adult to grow further, led by the United States, and, to a lesser extent, Greater China.