Madison Troyer

Mon, Jun 2, 2025, 10:31 AM4 min read

• 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.