The U.S. is home to 37% of the world’s millionaires, according to the 2024 USA Wealth Report from Henley & Partners and New World Wealth, with more than 5.5 million Americans having liquid investible assets of more than $1 million, an increase of 62% over the past 10 years.
The number of millionaires in America has grown 35% in the past five years, nearly twice as quickly as in China. Wealth creation in China has slowed due to strict COVID lockdowns and more government intervention in the private section, said Henley’s Group Head of Private Clients Dominic Volek. “China has certainly slowed a lot due to these elements and the U.S. has benefited,” he said.
Additionally, American is home to nearly 10,000 centi-millionaires, which are those worth $100 million or more, while China has just 2,352. When it comes to billionaires, the U.S. has 788 and China has 305. “The USA remains the world’s undisputed leader in private wealth creation and accumulation,” the report stated.
Around 2,200 millionaires came to the U.S. in 2023, but a net 13,500 millionaires left China—a new record. The report predicts that 3,500 more millionaires will come to America in 2024. “The USA remains a top draw for wealthy tech entrepreneurs and engineers, especially from Asia, Europe, and the UK,” the report said.
