U.S. Dominance in the Global Wealth Landscape
The United States continues to stand as the undisputed leader in harboring the world’s ultra-high-net-worth individuals, according to the 2025 Wealth Report by Knight Frank, a global real estate consultancy based in London. The report reveals that a staggering 39% of individuals worldwide with a net worth of $10 million or more reside in the U.S. This translates to a total of 905,413 people in the U.S. who fall into this category, a number nearly double that of China, which has 471,634 individuals in the same bracket. Japan follows with 122,119, while India rounds out the top four with 85,698. This data underscores the U.S.’s position as the global hub for the super-wealthy, with no other country challenging its dominance.
The U.S. also leads in the billionaire category, holding 30% of the world’s billionaires and a whopping 40% of global billionaire wealth. The report highlights that $5.7 trillion of billionaire wealth is concentrated in the U.S., marking a 10-year high. Conversely, China has seen a 10% decline in its share of billionaire wealth, further emphasizing the U.S.’s unrivaled position.
The Resilience of U.S. Wealth Creation
Despite a global economic slowdown through 2024, the U.S. economy has shown remarkable resilience, propping up investor confidence and driving wealth creation. Liam Bailey, Knight Frank’s global head of research, attributes this strength to the growth in financial markets, particularly the performance of equity markets and the surge in Bitcoin prices, which skyrocketed 120% over the year. Additionally, the S&P 500 saw a 20% rise for the second consecutive year, further bolstering wealth creation.Researchers at Knight Frank also point to the role of President Donald Trump’s pledge to loosen regulatory standards as a contributing factor to the robust performance of U.S. markets, creating a favorable environment for the wealthy.
The report suggests that a combination of factors, including big bets on risk assets like cryptocurrencies and the strong performance of the S&P 500, has contributed to the U.S.’s ability to maintain its position as a global wealth hub. The resilience of global trade, despite geopolitical tensions, has also played a role in sustaining economic growth and investor confidence.
The Super-Rich Population in Other Countries
While the U.S. dominates the global wealth landscape, other countries are also home to significant numbers of ultra-high-net-worth individuals. China, the second-largest economy in the world, hosts 471,634 individuals with a net worth of $10 million or more. This number, while substantial, is nearly half of that of the U.S., highlighting the gap between the two countries in terms of wealth concentration. Japan follows with 122,119 individuals in the $10 million-plus bracket, while India, with 85,698, rounds out the top four.
Interestingly, the report notes that while Asia is expected to outpace North America in wealth creation over the next four years, the U.S. is likely to maintain its dominance. This suggests that while other regions, particularly in Asia, are gaining ground, the U.S. remains the unquestioned leader in terms of wealth concentration.
Billionaires: Demographics and Professions
The report provides intriguing insights into the demographics and professions of the world’s billionaires. The average age of a billionaire in 2024 was 65.7 years, with 87% of billionaires being male. However, the gender dynamics are slowly shifting, as 82% of new billionaires in 2024 were men, down from 90% four years ago. This slight decrease suggests that women are gradually making inroads into the billionaire club, a trend that may continue in the coming years.
In terms of professions, finance and investment lead in terms of the number of billionaires, while technology dominates in terms of total wealth. This is evident from the fact that eight of the world’s 10 richest people, including Elon Musk, Jeff Bezos, and Mark Zuckerberg, have made their fortunes through tech. This underscores the significant role of technology in wealth creation.
Wealth Creation and the Role of Technology
The tech industry has emerged as a key driver of wealth creation, particularly in the U.S. The rise of tech giants and the growth of digital platforms have created vast fortunes for individuals like Elon Musk, Jeff Bezos, and Mark Zuckerberg. The report highlights that these tech billionaires, along with others, have amassed significant wealth, contributing to the U.S.’s leadership in total billionaire wealth.
The growth of the tech sector, coupled with the rise of cryptocurrencies, has also played a crucial role in wealth creation. The Bitcoin surge in 2024, which saw the cryptocurrency’s value rise by 120%, has further enriched tech-savvy investors and entrepreneurs, many of whom are based in the U.S. This trend is expected to continue, with technology remaining a key driver of wealth creation in the coming years.
The Future of Global Wealth
Looking ahead, the report suggests that while the U.S. is expected to maintain its dominance in the global wealth landscape, other regions, particularly in Asia, are expected to gain ground. The authors of the report note that while Asia is forecasted to outpace North America in wealth creation over the next four years, the U.S. will likely remain the leading hub for the super-wealthy.
This shift is expected to be driven by the continued growth of emerging markets, particularly in Asia, where rapid economic expansion and technological innovation are creating new opportunities for wealth creation. However, the U.S. is likely to remain the dominant player due to its robust financial markets, innovative economy, and favorable regulatory environment.
In conclusion, the U.S. remains the global leader in wealth concentration and creation, with the largest number of ultra-high-net-worth individuals and billionaires. While other regions are gaining ground, the U.S. is expected to maintain its dominance, driven by its resilient economy, innovative industries, and favorable market conditions.
