37% Of The World's Millionaires Call The US Home, Up 78% Over The Last Decade

• The U.S. has the largest number of high-net-worth individuals, according to a new report from Henley & Partners and New World Health
• 37% of the global millionaire population, 36% of the world's centimillionaires, and 33% of billionaires call the country home
• These ultra-wealthy individuals primarily live in or near major cities like New York, San Francisco, and Los Angeles

The U.S. is home to 37% of the global millionaire total, according to a new report from Henley & Partners and New World Wealth.

The USA Wealth Report says that over 6 million high net worth individuals, defined as those with investable assets of $1 million or more, resided in the U.S. at the end of 2024. Additionally, 36% of the world's centimillionaires and 33% of the world's billionaires also call the country home.

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Over the past decade, the U.S. has seen its millionaire population increase by 78%. This growth slightly outpaces China, which saw its millionaire population increase by 74% between 2014 and 2024, and well outpaces other wealthy countries like Japan (5%), Canada (26%), Switzerland (28%), and the UK (-9%). 

Tim Klatte, partner at Grant Thornton China, warns high net worth individuals that despite this incredible growth rate, they shouldn't get too comfortable. "The U.S.–China trade war is more than an economic battle — it is a complex geopolitical contest with far-reaching consequences," he said in a statement accompanying the report. "HNW investors must account for the risk of escalating tensions, potential breakdowns in trade negotiations, and the broader threat of international conflict. These geopolitical dynamics can significantly influence investment decisions, asset allocation, and long-term wealth preservation."

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In fact, this economic unrest has led many ultra-wealthy Americans to explore their options when it comes to moving their wealth outside the US. According to the report, US citizens account for over 30% of all investment migration applications submitted through Henley & Partners at this point in the year. A number that is nearly double the combined total of the next five investor nationalities, which include Turkish, Indian, and British.

"We're witnessing a new level of sophistication in how affluent Americans manage and diversify their wealth," says Basil Mohr-Elzeki, managing partner at Henley & Partners North America. "Securing alternative residences and citizenships is now a strategic form of risk management — a thoughtful ‘Plan B' that enhances family resilience, unlocks global opportunities, and safeguards multigenerational legacies."

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Within the U.S., high net worth individuals tend to congregate in areas the report calls "urban wealth hubs." New York City has the highest number of high net worth individuals, with 384,500 millionaires, 818 centimillionaires, and 66 billionaires. The San Francisco Bay Area, which includes Silicon Valley, is second with 342,400 millionaires, 756 centimillionaires, and 82 billionaires. Los Angeles, Chicago, and Dallas round out the top five.

"Despite a wave of policy changes and their subsequent implications around the world, the relative political stability, rule of law, economic prospects, culture of innovation, not to mention the US dollar remaining the global reserve currency, have squarely positioned the USA as an environment in which to do business and to invest," said David K. Young, president at the Committee for Economic Development of The Conference Board in a statement accompanying the report.

Read Next: Are you rich? Here’s what Americans think you need to be considered wealthy.

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