The number of ultra-wealthy individuals is booming worldwide, at a rate that continues to outpace the expansion of the global adult population. At the close of June 2025, the super wealthy – defined as those with a net worth in excess of $30 million – surpassed 510,000. This group represents just one per cent of the global millionaire population, yet collectively control 32 per cent of all millionaire wealth.
According to the newly released 2025 Altrata World Ultra Wealth Report, the total net worth of this elite class has now climbed to $59.8 trillion – more than double the annual GDP of the United States – marking a 6.7 per cent increase.
It is in the US where the momentum is most striking. Despite an environment shaped by market volatility, a weaker dollar, an isolationist stance under the Trump administration and an ongoing global tariff war, the US continues to be the epicenter of wealth creation. The country is home to 38 per cent of the ultra-wealthy population – more than the share of all other countries in the global top 10 combined.
The United States’ ultra-wealthy population surged by 21 per cent in 2024 and added another 6.5 per cent growth in the first half of 2025. This trajectory helped push North America to a record 41 per cent growth in ultra-wealthy numbers.
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By comparison, Asia, in second place, is home to 129,100 ultra-wealthy individuals, just 2,000 more than Europe. The UK, while still a global financial centre, has 18,000, a fraction of America’s total.
The scale of America’s lead is even clearer when compared to China. The US currently has almost four times as many ultra-wealthy individuals as its closest competitor. The strength of this position underscores the enduring appeal of the American market and reinforces North America’s role as the dominant region for wealth growth, leaving China trailing far behind, even after its rapid expansion.
This performance is supported by deep financial markets, steady business activity, and strong entrepreneurial confidence despite wider global volatility. According to the report, many US entrepreneurs also believe that changes to taxation and regulation will positively influence their wealth outlook.
Looking ahead, Florida, Utah, and Texas are forecast to experience the fastest growth in ultra-high-net-worth numbers. Each state has seen rapid expansion in key sectors alongside population and business growth. Florida continues to attract international investment, Texas benefits from a diversified economy, and Utah has developed a strong base in technology and innovation. These emerging hubs reflect the broadening footprint of wealth across the country, illustrating how the American Dream is being re-drawn on a wider map.
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For the global elite, the message is clear: while wealth is growing across the world, the United States remains unrivalled in its ability to generate and sustain ultra-high-net-worth individuals, cementing its position as the most powerful wealth hub on the planet.
