The United States currently accounts for more than one-third of the world's millionaires and billionaires, driven largely by the rapid growth of technology companies and startups.
According to a recent report by Henley & Partners and New World Wealth, over 6 million Americans qualify as liquid millionaires, defined as individuals with investable assets exceeding $1 million. This figure represents a 78% increase over the past decade and comprises 37% of the global millionaire population.
In addition, the country is home to 10,835 centimillionaires—those possessing at least $100 million in investable assets—which is more than four times the number in China, the second-ranked nation. The total number of billionaires in the U.S. stands at 867, constituting approximately one-third of the global billionaire count.
Andrew Amoils, head of research at New World Wealth, noted, "America is the undisputed leader in high-growth tech sectors such as software, microchips, online retail, internet hosting, social media, search engines, and artificial intelligence." This leadership continues to fuel wealth creation domestically.
Furthermore, the U.S. continues to attract wealthy individuals from overseas; in 2024, around 3,800 millionaires, including 95 centimillionaires, migrated to the country. Most relocated to states like California, Florida, and Texas.
Traditional wealth centers remain dominant, with New York, the Bay Area, and Los Angeles hosting the largest millionaire populations. However, many rapidly expanding millionaire hubs are located in the Sunbelt region. Scottsdale, Arizona, leads as the fastest-growing city for millionaire population, experiencing a 125% increase over the last decade to reach 14,800. West Palm Beach, Florida, follows with a 112% growth to 11,500 millionaires. The Bay Area and Miami rank third and fourth, respectively.
The competition between New York City and the Bay Area is intensifying in millionaire counts. New York currently holds 384,500 millionaires, slightly ahead of the Bay Area's 342,400. Yet, the Bay Area's millionaire population growth rate of 98% over the past decade nearly doubles New York's 45%, boosted by advancements and wealth generated through artificial intelligence and related technologies. This trend suggests the Bay Area may soon surpass New York as the preeminent American millionaire hub.
