US Adds 379,000 Millionaires in 2024, Wealth Concentration Continues

The United States is leading the world in the production of new millionaires, with nearly 24 million millionaires in 2024. This significant increase is attributed to the strength of Wall Street and the stability of the US dollar. According to a recent report, the United States saw an addition of 379,000 new millionaires last year, which translates to over a thousand new millionaires per day. This trend highlights the growing wealth disparity, as inflation continues to enrich those who own desirable assets such as real estate and stocks, while others struggle with the rising cost of living.

The report also notes that the first six months of 2025 presented challenges due to the trade war with China and fears of a recession, which weighed heavily on the stock market. Additionally, the US dollar has fallen by 9% since the beginning of the year. Despite these challenges, the overall trend of wealth concentration continues, with millionaires collectively holding over a quarter of the global wealth, amounting to 226.47 trillion dollars. This wealth is largely derived from the appreciation of real estate, which has increased by 30% in the United States over the last decade. In contrast, property prices in France have only risen by 4%, while in Germany, the increase is 21%. Some European countries have seen more significant gains, with real estate prices rising by 70% in Ireland, Hungary, and Poland, and by 140% in Portugal.

Inflation has a disproportionate impact on those who own valuable assets, such as prestigious real estate in major cities, stock shares, and art pieces. This trend is evident in the global wealth distribution, where the top 60 million millionaires hold a significant portion of the world's wealth. The report highlights that all bitcoins in circulation are valued at 2.2 trillion dollars, which is only 1% of what millionaires worldwide own and barely 0.25% of global wealth. This disparity underscores the potential for significant appreciation in the value of bitcoin, as it represents a revolutionary solution for preserving capital in the face of inflation.

Michael Saylor, the CEO of Strategy, emphasizes that bitcoin is the greatest digital transformation of the 21st century. He argues that global wealth is divided into two categories: assets that serve to run the economy and long-term capital held as a store of value. Bitcoin, being a form of digital capital, is economically and technically superior to physical capital. Saylor predicts that bitcoin will eventually be worth several hundred thousand billion dollars, as it absorbs a significant share of the 450 trillion dollars currently allocated to real estate, gold, and other traditional capital. This shift represents a savings revolution, making bitcoin accessible to everyone, regardless of their wealth. Unlike traditional investments, bitcoin is divisible into 100 million "satoshis," allowing anyone to acquire a fraction of a bitcoin, making it the investment of choice for the eight billion non-millionaires who suffer from inflation.