U.S. Creates 1,200 Millionaires Per Day

UBS has released its “Global Wealth Report 2026.” Among the headline conclusions was that “Nearly one million new millionaires were created in 2025, with the United States accounting for almost half of this growth, with more than 1,200 new millionaires emerging every day. “

The report also showed that the U.S. added 400,000 millionaires last year, bringing the total to 23 million. The measure of wealth included financial assets and real assets (including residences and other real estate), less debt. It is important to understand that many of these assets are not liquid.

The US stock market has soared, making a major contribution to wealth. The study is a snapshot of the wealth at the end of 2025. The S&P 500 rose nearly 20% over the course of the year. Many of the largest tech company stocks rose faster.

Real estate prices were also strong, with the median home price reaching an all-time high of $446,000. It is part of an increase that largely started at the end of the Great Recession.

The question going forward is whether the US can match its impressive increase in millionaires again in 2026. Obviously, the stock market has contributed to a new record number of millionaires. The S&P is already up 9% this year.

In terms of home values, the trend remains upward. The new S&P CoreLogic Case-Shiller Home Price Indices for April show that prices have increased every month in 2026. In April, the increase was .8% year over year. The gain was less impressive when inflation was taken into account. About two-thirds of Americans own their own homes.

The two pillars of stock prices and real estate values have been eroded twice in recent years, with the best example being the dot-com stock market crash from 2000 to 2002. The value of some tech stocks, even at healthy companies, dropped by as much as 80%. The value of the NASDAQ index dropped by nearly half. The real estate collapse happened during the Great Recession. In some parts of the US, home values dropped by 20% or more. Foreclosures and foreclosure rates soared.

Halfway through the year, it appears that the US will set a new millionaire level. But, looking ahead to the balance of 2026, six months is a long time.

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