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The USA Wealth Report 2024

Despite concerns over the state of the union ahead of November’s high-stakes election, the USA remains the undisputed leader in private wealth creation and accumulation. Published by Henley & Partners in partnership with New World Wealth, the 2024 USA Wealth Report provides a comprehensive review of America’s wealth sector, including high-net-worth individual and city wealth trends, and private wealth migration and investment migration insights. Read the methodology and the press release.

Composite image of American flag furling with skyscraper superimposed

Benchmarking USA Wealth

67 USD trillion

Liquid investable wealth
USA ranks 1st globally

201,500 USD

Wealth per capita
USA ranks 6th globally after Monaco, Luxembourg, Switzerland, Australia, and Singapore

62 %

Millionaire growth (%) 2013 to 2023
USA ranks 11th globally

5.5 million

Millionaires
USA ranks 1st globally

9,850 

Centi-millionaires
USA ranks 1st globally

788 

Billionaires
USA ranks 1st globally

Note: Figures for December 2023. For the purposes of this report, ‘wealth’ refers to an individual’s liquid investable wealth, which only includes listed company holdings, cash holdings, and debt-free residential property holdings.
Source: New World Wealth

THE USA WEALTH REPORT 2024

The World’s Top Wealth Hub

Watch the video for key data insights

USA Private Wealth Trends

USA Wealth Management Insights

Contributors

Dominic Volek | Group Head of Private Clients and member of the Executive Committee at Henley & Partners

Dominic Volek

Group Head of Private Clients and member of the Executive Committee at Henley & Partners

Mehdi Kadiri | Managing Partner and Head of North America at Henley & Partners

Mehdi Kadiri

Managing Partner and Head of North America at Henley & Partners

Barbara Goodstein | R360 Managing Partner and New York City Chapter Chair

Barbara Goodstein

R360 Managing Partner and New York City Chapter Chair

Prof. Peter J. Spiro | Charles Weiner Chair in international law at Temple University

Prof. Peter J. Spiro

Charles Weiner Chair in international law at Temple University

Basil Mohr-Elzeki | Head of Private Clients – Americas at Henley & Partners

Basil Mohr-Elzeki

Head of Private Clients – Americas at Henley & Partners

Misha Glenny | Rector of the Institute for Human Sciences and award-winning journalist and broadcaster

Misha Glenny

Rector of the Institute for Human Sciences and award-winning journalist and broadcaster

Dr. José Caballero | Senior Economist at the IMD World Competitiveness Center

Dr. José Caballero

Senior Economist at the IMD World Competitiveness Center

Annie Pforzheimer | Retired career diplomat with personal rank of Minister Counselor from the Department of State and Senior Non-Resident Associate at CSIS

Annie Pforzheimer

Retired career diplomat with personal rank of Minister Counselor from the Department of State and Senior Non-Resident Associate at CSIS

Michael W. Sonnenfeldt | Founder of TIGER21, serial entrepreneur, philanthropist, and political thought leader

Michael W. Sonnenfeldt

Founder of TIGER21, serial entrepreneur, philanthropist, and political thought leader

Judi Galst | Managing Director Private Clients at Henley & Partners USA

Judi Galst

Managing Director Private Clients at Henley & Partners USA

Mark Tepsich | Family Office Design and Governance Strategist for UBS Family Office Solutions

Mark Tepsich

Family Office Design and Governance Strategist for UBS Family Office Solutions

Kane Manera | Top 10 producer of real estate sales in New York City

Kane Manera

Top 10 producer of real estate sales in New York City

Olga Ayo | Director Key Intermediaries at Henley & Partners USA

Olga Ayo

Director Key Intermediaries at Henley & Partners USA

Frederik Bussler | Owner of Bussler & Co and two-time acquired start-up founder

Frederik Bussler

Owner of Bussler & Co and two-time acquired start-up founder

Ronald Varney | Principal at Ronald Varney Fine Art Advisors

Ronald Varney

Principal at Ronald Varney Fine Art Advisors

Andrew Amoils | Head of Research at wealth intelligence firm New World Wealth

Andrew Amoils

Head of Research at wealth intelligence firm New World Wealth

Jeff D. Opdyke | Global investment expert and American financial writer

Jeff D. Opdyke

Global investment expert and American financial writer

Tess Wilkinson | Director of Education Services at Henley & Partners Education

Tess Wilkinson

Director of Education Services at Henley & Partners Education

Peter Ferrigno | Director of Tax Services at Henley & Partners

Peter Ferrigno

Director of Tax Services at Henley & Partners

Methodology

Henley & Partners, the leading international residence and citizenship advisory firm, has collaborated with global wealth intelligence firm New World Wealth to produce the 2nd edition of the USA Wealth Report.

Wealth data

New World Wealth is currently the only known independent wealth research firm systematically tracking global wealth migration trends between countries and cities. The firm tracks the movements of over 150,000 high-net-worth individuals in its in-house database, with a special focus on those with over USD 30 million in listed company holdings. The database’s primary focus is on company founders (50%+ of the database) and individuals from high-value companies who hold the following positions: chairperson, CEO, president, director, and managing partner.

New World Wealth relies primarily on this database when assessing the city wealth breakdowns featured in this report. The firm uses various public sources to check city locations, including LinkedIn and other business portals. The data also takes into account prime property statistics — specifically, it considers the number of highly priced homes in each city or area.

Note: It should be noted that New World Wealth never gives out the names of the individuals in its database, which it uses purely for in-house statistical studies.

Notes and definitions

For the purposes of this report, ‘wealth’ refers to an individual’s liquid investable wealth, which only includes listed company holdings, cash holdings, and debt-free residential property holdings.

The terms ‘millionaires’ or ‘high-net-worth individuals’ (HNWIs) refer to individuals with liquid investable wealth of USD 1 million or more.

The term ‘centi-millionaires’ refers to individuals with liquid investable wealth of USD 100 million or more.

The term ‘billionaires’ refers to individuals with liquid investable wealth of USD 1 billion or more.

‘Millionaire growth’ refers to the rise or drop in the number of millionaires living in a country or city over a certain period, in percentage terms.

‘Wealth per capita’ refers to the average liquid investable wealth of a person in a specific country.

Wealth versus GDP

We consider wealth to be a far better measure of the financial health of an economy than GDP. The reasons for this include:

In many countries, a large portion of GDP flows to the government and therefore has little impact on private wealth creation.

GDP counts items multiple times. For instance, if someone is paid USD 100 for a product or a service and they then pay someone else that same USD 100 for another product or service, USD 200 will be added to the country’s GDP despite the fact that only USD 100 was produced at the outset.

GDP ignores the efficiency of a country’s banking sector and stock market in retaining wealth.

GDP largely overlooks the impact of property and stock market moves, yet these two factors clearly have a significant impact on wealth.

GDP is a relatively static measure that tends to move only slightly year on year. It also has a time lag.

Wealth figures, on the other hand, have none of these limitations, making them a far more accurate gauge of the true financial health of an economy than its GDP figures.

About New World Wealth

New World Wealth was established in 2013 and has been tracking the movements and spending habits of the world’s wealthiest people for over a decade. The firm has an impressive track record in providing robust, reliable wealth data and insights for key publications, such as Knight Frank’s Wealth Report, AfrAsia Bank’s Global Wealth Migration Review, and Henley & Partners’ Africa Wealth Report, BRICS Wealth Report, Centi-Millionaire Report, Crypto Wealth Report, USA Wealth Report, and World’s Wealthiest Cities Report as well as the Henley Private Wealth Migration Dashboard and the Henley Wealth and Sustainability Report. New World Wealth’s reports and findings have been referenced by the Australian and UK governments, as well as by global news outlets such as the BBC, Bloomberg, CNN, Forbes, the New York Times, Robb Report, and the Telegraph.

For more information on New World Wealth, please visit newworldwealth.com

Disclaimer

© 2024 Henley & Partners. All rights reserved. The H&P monogram and Henley & Partners logo and related brand assets are the exclusively owned or licensed trademarks, service marks, and logos of Henley & Partners. All other trademarks, service marks, and logos used in this report are the trademarks, service marks, and logos of their respective owners. No part of this report may be reproduced in any form or by any means without the prior written permission of Henley & Partners. Although the material contained in this report was prepared based on information from public and private sources that Henley & Partners believes to be reliable, no representation, warranty, or undertaking, stated or implied, is given as to the accuracy of the information contained herein, and Henley & Partners expressly disclaims any liability for the accuracy and completeness of information contained herein. 

This report is distributed for general informational and educational purposes only and is not intended to constitute legal, tax, accounting, or investment advice. It should not form the basis of any decision. The information contained in this report is not, and shall not constitute an offer to sell, a solicitation of an offer to buy or an offer to purchase any securities, nor should it be deemed to be an offer, or a solicitation of an offer, to purchase or sell any investment product or service. Henley & Partners is not responsible for the content of websites and information resources that may be referenced in this report. The information contained in this report is believed to be accurate as of the date of publication, but is subject to change without notice. Henley & Partners does not have any obligation to provide revisions in the event of changed circumstances. Henley & Partners and its affiliates, employees, and agents shall not be liable for any liability or loss whatsoever, including but not limited to direct, indirect, special, incidental, or consequential damages, arising out of or in connection with the use or reliance on the information contained in this report. The information in this report is provided “as is” and Henley & Partners makes no representations or warranties of any kind, express or implied, about the completeness, accuracy, reliability, suitability, or availability with respect to the information contained in this report for any purpose. 

The USA Wealth Report 2024 was published on 19 March 2024.

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