In its 16th edition, UBS notes an acceleration compared to 2023 (+4.2%), driven primarily by North America, where wealth has jumped by over 11%. Conversely, Asia-Pacific and EMEA (Europe, Middle East, Africa) posted more modest increases of 3% and 0.5% respectively.
North America widens the gap
North American adults have an average of $593,347, far ahead of those in Oceania ($496,696) and Western Europe ($287,688). However, this average masks declines in wealth in over half of the 56 countries analyzed, due to inflation, currency fluctuations, or economic slowdowns.
Switzerland retains its global lead in terms of average wealth per adult ($687,166), ahead of the United States ($620,654) and Hong Kong ($601,195). In terms of median wealth, Luxembourg tops the ranking with $395,340, followed by Australia ($268,424) and Belgium ($253,539). The median in the United States is very far from the country's average, at $124,041.
Here are the three countries with the largest absolute gap between average wealth and median wealth in 2024:
🥇 United States
- Average wealth: $620,654
- Median wealth: $124,041
- Gap: $496,613
🥈 Hong Kong
- Average wealth: $601,195
- Median wealth: $222,015
- Disparity: $379,180
🥉 Denmark
- Average wealth: $481,558
- Median wealth: $216,098
- Range: $265,460
These disparities reflect a high level of internal wealth inequality: a very wealthy minority pushes the average up, while the median—which better reflects the wealth of the "typical" individual—remains much lower.
Ordinary millionaires are multiplying
The report highlights the spectacular rise of "EMILLI" (Everyday Millionaires), individuals with between $1m and $5m in invested assets. There are now 52 million of them worldwide, compared to just 13 million in 2000. Together, they hold some $107 trillion—an amount equivalent to that of the ultra-rich (those with over $5m in assets).
This trend can be explained in particular by rising real estate prices and favorable exchange rates, reflecting a certain democratization of wealth... concentrated mainly in the richest countries.
Massive inheritances and widening gaps
A historic transfer is underway: nearly $83 trillion is expected to change hands worldwide over the next 20 to 25 years, including $9 trillion in horizontal transfers between spouses and $74 trillion between generations. This is the transfer from baby boomers to the next generations.
