With $67T in liquid assets, US stays on top of the world
investmentnews.comThe United States continues to lead the globe in terms of private wealth, with affluent Americans possessing a staggering $67 trillion in liquid investible wealth, which amounts to a third of the world’s liquid assets.
This insight, highlighted in the 2024 USA Wealth Report by Henley & Partners, reinforces the country’s dominant position in wealth creation and accumulation.
Currently, the US is home to 37 percent of global millionaires, equating to approximately 5.5 million individuals with more than $1 million in liquid assets. That translates into a 62 percent increase over the last decade – a pace that significantly outstrips the global growth rate of 38 percent.
Despite having a GDP comparable to China, the US far surpasses its economic rival in terms of liquid wealth, which includes assets such as holdings in listed companies, cash, and residential property free of debt.
The report also notes that wealth per capita and the number of ultra-wealthy individuals are considerably higher in the US. It’s home to 9,850 centimillionaires and 788 billionaires, significantly outpacing China’s 2,352 centimillionaires and 305 billionaires.
New York City reigns as the wealthiest city not just in the US but globally, with 349,500 millionaires. Following New York, the San Francisco Bay Area, Los Angeles, Chicago, and Houston round out the top five wealthiest American cities.
Austin, Texas, stands out as having the fastest-growing population of millionaire residents over the past decade, with a 110 percent increase. Other cities that are millionaire magnets include Scottsdale, Arizona, (which has grown 106 percent) and Florida’s Palm Beach and West Palm Beach (93 percent).
“Future wealth hot spots to watch are Salt Lake City, Tampa,
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