#USA #New York #Henley Partners #US Wealth Report #Millionaire Population

Overview

The USA Wealth Report 2025 sheds light on the current state of wealth in the United States, showcasing its position as the foremost hub for private wealth management globally. As of May 2025, despite the ever-changing economic landscape and challenges during this year, the United States maintains its lead, presenting a remarkable snapshot of the nation’s wealthy demographic and growing opportunities abroad.

Growth in Wealth Management

According to the report published by Henley Partners, a respected global authority on wealth migration and investment, the United States houses over 6 million affluent individuals with investable assets of 1 million dollars or more. This staggering statistic translates to the USA owning 34% of the world’s liquid wealth and being home to 37% of the world’s millionaire population.

In addition, the report illuminates the concentration of wealth among ultra-high-net-worth individuals, indicating that 36% of the world's centimillionaires (those with over $100 million) and 33% of billionaires reside in the United States. This data underscores the significant impact the U.S. has on global wealth dynamics.

Migration Trends Among the Wealthy

As global wealth migration flourishes, an interesting trend has emerged: a growing number of wealthy Americans are actively exploring residence and citizenship options overseas. In fact, U.S. citizens have accounted for more than 30% of all investment migration applications submitted to Henley Partners this year—a figure nearly twice that of the next five nationalities combined, including those from Turkey, India, and the UK.

Basil Mohr-Elzeki, a managing partner at Henley Partners North America, commented, "We are witnessing a new level of sophistication among wealthy Americans as they diversify and manage their assets. The search for alternative residences and citizenships underscores smart risk management, providing strategic plans for resilience and securing legacies beyond borders."

Comparative Wealth Analysis

From 2014 to 2024, the U.S. witnessed a staggering 78% rise in its millionaire population, outpacing other major economies. China, the second-largest source of millionaires, tallied a 74% growth in the same period, however, the U.S. remains significantly ahead in terms of the actual number. With roughly 6,041,600 millionaires, 10,800 centimillionaires, and over 850 billionaires, America continues to lead.

Comparing this with other advanced economies in the top ten list of richest countries, Germany’s population of millionaires increased by merely 10% over the past decade, Japan by 5%, and shockingly, the UK has seen a 9% decline, indicating a substantial outflow of wealth. Australia, Switzerland, Canada, and Italy also demonstrated lesser growth but still lag behind the U.S.

Spotlight on Wealth Centers

The report also identifies the ongoing supremacy of traditional American wealth centers alongside emerging urban hubs. New York City remains the wealthiest city globally, boasting 384,500 millionaires, among whom are 818 centimillionaires and 66 billionaires. The Bay Area follows with 342,400 millionaires, 756 centimillionaires, and 82 billionaires, showcasing the highest concentration of wealth in the nation.

Interestingly, Scottsdale, Arizona, has become the fastest-growing wealth center in the U.S., with a remarkable 125% increase in its millionaire population over the past decade, primarily propelled by a booming tech sector.

Implications of Societal Changes

Peter J. Spiro, a law professor at Temple University, observes that amidst the historical unpredictability surrounding the current political climate in the U.S., more citizens find the need to secure alternative citizenships. A dual citizenship, once considered a luxury, now emerges as a modern-day pursuit for many Americans seeking stability. The desire not just to stay but also to have the option to exit during times of uncertainty encapsulates a significant shift in mindset.

In conclusion, the US Wealth Report 2025 not only affirms America’s leading role in global wealth management but also highlights a nuanced migration trend among affluent individuals seeking broader horizons in an increasingly uncertain world. With ongoing shifts in wealth generation and management dynamics, the interplay between domestic and international concerns continues to evolve, presenting both challenges and opportunities for those at the helm of wealth in America.