---
title: "More than 440,000 Americans became millionaires last year, a report finds"
description: "The United States minted more than 440,000 new millionaires last year, more than any other country and close to half of all those added worldwide, according to a new UBS report, a surge driven by rising stock and asset prices even as measures of typical household wealth have lagged."
category: "Business"
category_url: https://herald.la/category/business
author: "Omar Haddad"
published: 2026-07-07T13:56:00.000Z
updated: 2026-07-07T13:56:00.000Z
canonical: https://herald.la/article/more-than-440000-americans-became-millionaires-last-year-a-report-finds
tags: ["wealth", "millionaires", "ubs", "economy", "inequality"]
---
# More than 440,000 Americans became millionaires last year, a report finds

The United States minted more than 440,000 new millionaires last year, more than any other country and close to half of all those added worldwide, according to a new UBS report, a surge driven by rising stock and asset prices even as measures of typical household wealth have lagged.

The ranks of American millionaires swelled again last year, with the United States adding hundreds of thousands of new ones and cementing its place as home to more millionaires than anywhere else, according to a widely cited annual wealth study.

## The headline number

The United States added more than 440,000 new millionaires in 2025, the most of any country and close to half of all the new millionaires created worldwide, [The Hill reported](https://thehill.com/business/5956239-440k-new-millionaires-2026-usa-ubs-report/), citing UBS's Global Wealth Report. The Swiss bank's study counts adults whose net worth tops $1 million, a figure that includes investments, real estate and other assets, not annual income.

The country now accounts for the largest share of the world's millionaires by a wide margin, reflecting the size of the U.S. economy and the outsize role its financial markets play in creating wealth.

## What is driving it

The main engine is asset prices. Gains in the stock market, along with rising values for real estate and other holdings, lifted many households above the million-dollar line, [CNBC reported](https://www.cnbc.com/2026/07/02/stock-market-gains-new-millionaires-ubs.html). When markets climb, so does the paper wealth of those who own stocks, and the past year's gains were enough to push large numbers over the threshold.

## The fuller picture

The headline masks a more uneven reality. Analysts examining the same data note that gains have been concentrated near the top: while average wealth per adult has risen, typical, or median, wealth has not kept pace, and by some measures has fallen once inflation is taken into account, [Quartz reported](https://qz.com/ubs-global-wealth-report-2026-new-millionaires-wealth-inequality-063026). In other words, the number of millionaires can jump even as many ordinary households feel squeezed.

It is also worth remembering what "millionaire" measures. Because the count is based on total net worth, much of it tied to home values and investments, a rising tally reflects asset prices as much as anything about paychecks or the cost of living.

## The takeaway

By the report's count, wealth at the top of the U.S. distribution had a very good year, adding new millionaires at a fast clip. Whether that prosperity is broadly shared is a separate question, and one the same data suggests should be answered with caution.