WORLD - Millionaires on the Increase

Wealth grew disproportionately quickly last year in the United States, where over 379,000 people became new U.S. dollar millionaires, more than a 1,000 a day, a report published showed.

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.

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.

-www.reuters.com, 18 June 2025

Commentary: What does UBS stand for? Union Bank of Switzerland. With offices in over 52 countries, it is a multinational investment bank and financial services firm.

The excerpts from Reuters.com reiterate that the world is getting richer—and, we add, living longer, enjoying luxuries and comfort unthinkable only a century ago.

For example, the IRS (tax authority in the US) states that the average net income per tax return for 1924 was $3,481.25. Life expectancy was 67.4 years. According to the Federal Reserve survey data, net worth per family today stands at approximately $192,900. When it comes to life expectancy, there are diverse findings, with Google showing 77.4 years.

Why these statistics? Simply to confirm what the Bible already reveals. We may go back to Genesis 11:4: “And they said, Go to, let us build us a city and a tower, whose top may reach unto heaven; and let us make us a name, lest we be scattered abroad upon the face of the whole earth.” Note the words, “let us make us a name.” Pride comes before the fall.