US maintains position as the world’s private wealth hub

US maintains position as the world’s private wealth hub
The country accounts for 37% of the world’s millionaire population.
MAY 21, 2025

It’s been a turbulent few months with market volatility and trade tensions, but the US remains the dominant force in global private wealth.

A new report shows that the US is home to 37% of the world’s millionaires and 34% of liquid wealth. Moving up the notches, it’s also where 36% of the centimillionaires ($100 million of more in investable wealth), and 33% of billionaires.

But despite wealthy people looking to make their home in the US, Henley & Partners’ USA Wealth Report 2025 also reveals that many ultra-high-net-worth Americans are actively considering leaving the country and seeking information about residence or citizenship options abroad.

More than 30% of the inquiries to the firm’s specialist advisors have come from the US in 2025 so far.

"We're seeing a new level of sophistication in how wealthy Americans manage and diversify their assets," says Basil Mohr-Elzeki, Managing Partner at Henley & Partners North America. "Pursuing alternative residences and citizenships is smart risk management. Investment migration offers a strategic 'Plan B', enhancing resilience, expanding opportunity, and securing legacy across borders."

Henley’s data shows that the US millionaire population has grown 78% in the 10 years from 2014-2024, faster than China’s 74% and far faster than other countries such as 26% for Canada, 10% for Germany, and 5% for Japan.

America now boasts approximately 6,041,600 millionaires, 10,800 centi-millionaires, and over 850 billionaires. China follows with around 827,900 millionaires, 2,250 centi-millionaires, and about 280 billionaires, significantly trailing when it comes to private wealth numbers despite its rapid growth.

New York City holds its position as the wealthiest city in both the US and the world, home to 384,500 millionaires, including 818 centi-millionaires and 66 billionaires. Trailing closely is the Bay Area, with 342,400 millionaires, 756 centi-millionaires, and the highest number of billionaires in the country at 82. Over the past ten years, the Bay Area has seen a 98% increase in its millionaire population — the fastest wealth growth among the top 10 richest cities in the US.

Meanwhile, Scottsdale has emerged as the fastest growing wealth hub in the US by millionaire population, with a 125% increase between 2014 and 2024, primarily driven by its rapidly expanding tech sector.

Latest News

Merrill to pay $39 million in cash sweep settlement
Merrill to pay $39 million in cash sweep settlement

The financial advice industry has been facing inquiries into its cash sweep programs for years now.

SEC accuses fund advisor of defrauding SpaceX, OpenAI investors
SEC accuses fund advisor of defrauding SpaceX, OpenAI investors

Investor money allegedly went to strip clubs, exotic cars, and landscaping

RIA moves: Savant enters Thousand Oaks as Procyon lands in New Jersey
RIA moves: Savant enters Thousand Oaks as Procyon lands in New Jersey

Procyon adds $415 million in assets under management in New Jersey while Savant picks up a $213 million Southern California planning firm

Beyond sell or inherit: A third exit for appreciated property
Beyond sell or inherit: A third exit for appreciated property

With a growing number of real estate-rich Baby Boomers aging into retirement, some advisors may be failing to consider all the options available for those clients' assets.

AI marketing adoption gap costs financial firms revenue
AI marketing adoption gap costs financial firms revenue

Cornerstone Advisors study reveals compliance bottlenecks stall campaigns weeks after customer opportunities close.

SPONSORED In the Age of AI, Trust Becomes the Advisor's Greatest Asset

As AI makes financial information more accessible than ever, Lana Hock explains why human judgment, trust, and empathy remain the qualities clients value most in a financial advisor

SPONSORED Direct indexing webinar targets tax-loss harvesting amid market swings

Northern Trust’s Ken Lassner shows advisors how to convert volatility into after-tax portfolio gains