The U.S. added 600,000 new millionaires last year as AI fueled markets
Publishing timestamp: 2024-06-07 08:00:01
Summary
The U.S. far outpaced the rest of the world in minting millionaires last year, with the wealthy shifting their investments towards more aggressive growth assets. The global wealth picture is more mixed, with the number of millionaires worldwide growing, but the concentration of wealth increasing. Wealth management firms are facing fierce competition to attract and retain ultra-high net worth clients, with a focus on understanding clients' broader financial and family lives.
Sentiment: MIXED
Keywords: economy, breaking news: economy, business, breaking news: technology, nasdaq composite, technology, s&p 500 index, wealth, united states, business news,
Source: https://www.cnbc.com/2024/06/07/us-millionaire-population.html