U.S. — The U.S. added 736,000 new millionaires last year, bringing the total number of Americans with millionaire status to 8.7 million. This total exceeds all previous records from the past thirty years of wealth tracking.
Consulting firm Capgemini released the World Wealth Report 2026 on Thursday. The report defines millionaire wealth calculations by excluding primary residences, collectibles, consumables, and consumer durable goods.
Wealthy Americans increased their equity portfolio allocations from 22% to 27% last year. The S&P 500 index increased by approximately 18% last year, and the Nasdaq Composite Index increased by approximately 21% last year. Torsten Slok, chief economist at Apollo, noted a divergence in financial focus. "This divergence is likely driven by lower-income households worrying about rising gas prices, while higher-income households are focusing on rising stock prices." Slok said.
The S&P 500 index has increased by 10.6% in 2026 to date. An Empower report indicates that newly minted millionaires are typically members of Generation X or the baby boomer demographic. Americans typically reach a net worth of $1 million in their 50s or 60s. Individuals in their 60s hold an average of $1.2 million in retirement assets.
Approximately 50% of Americans do not have access to a retirement plan. The Empower report also states that 95% of U.S. millionaires own a primary residence, compared to 66% of the general U.S. population. According to the Federal Reserve Survey of Consumer Finances, the average net worth of homeowners was $1.5 million in 2022, while renters had an average net worth of $154,000. Americans report that an average wealth of $5.3 million is necessary to be considered financially successful.
No independent assessment was available for this report.