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US Sees Over 1200 New Millionaires Daily Amid Stock Market Rally
🇰🇷 South Korea /Economy & Trade

US Sees Over 1200 New Millionaires Daily Amid Stock Market Rally

From Dong-A Ilbo · () Korean

Translated from Korean, summarized and contextualized by DistantNews.

At a glance

News Sources not specified Context piece
  • The US saw over 1200 new millionaires daily in the past year, with nearly half of the world's new millionaires emerging in the country.
  • This surge is attributed to a strong financial market, particularly stock market gains, which significantly boosted American household assets.
  • However, the benefits of the stock market rally were concentrated among the wealthy, widening the wealth gap as inflation outpaced wage growth for many.

The United States witnessed an unprecedented surge in wealth creation last year, with over 1200 individuals becoming millionaires each day. This boom, driven by a robust financial market, saw nearly half of the world's new millionaires emerge within the US. According to a report by UBS, the number of Americans holding over $1 million in net worth surpassed 440,000.

The primary driver behind this wealth accumulation was the performance of financial assets, which constitute a significant 79% of American household wealth. Major US stock indices like the S&P 500, Dow Jones Industrial Average, and Nasdaq saw substantial gains of 17.9%, 14.9%, and 21.1% respectively, including dividends. This strong market performance directly translated into increased asset values for many Americans.

The US saw over 1200 new millionaires daily in the past year, with nearly half of the world's new millionaires emerging in the country.

— Dong-A IlboSummary of the article's main point regarding the increase in millionaires in the US.

Globally, the number of millionaires also reached an all-time high. The wealthiest segment, those with $50 million to $100 million, experienced the fastest growth over the past five years. However, the US, while having the largest number of millionaires at 23.6 million, did not see the highest growth rate, which was recorded in Lithuania at 8%. China, Japan, Germany, and the UK followed the US in millionaire population.

Despite the overall increase in average wealth, the report highlighted a widening wealth disparity. When adjusted for inflation, the average wealth per adult in the US increased by about 10% from 2020 to 2025. However, the median wealth saw a decrease of nearly 20%. This indicates that the gains from the stock market rally were disproportionately captured by those with substantial financial holdings, while individuals reliant on wages experienced a decline in their real wealth due to high inflation and limited wage increases.

The benefits of the stock market rally were concentrated among the wealthy, widening the wealth gap as inflation outpaced wage growth for many.

— Dong-A IlboAnalysis of the impact of the stock market rally on wealth distribution.
DistantNews Editorial

Originally published by Dong-A Ilbo in Korean. Translated, summarized, and contextualized by our editorial team with added local perspective. Read our editorial standards.

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