Today, CNN reported: “When it comes to the rise of multimillionaires, the United States is leading the charge, a new report found. The number of high-net worth individuals — or those with assets worth more than $10 million — rose 4.4% worldwide in 2024, to 2,341,378, but jumped 5.2% in North America, according to the annual Wealth Report by global real estate consultancy Knight Frank. The U.S. is now home to almost 40% of the world’s super rich, the report estimates — nearly double the share that resides in China, the region with the next highest contingent of wealthy individuals.”
The report points out as well that “Future wealth creation, especially in the ultra-wealthy (US$100 million+) segment, is likely to be subject to a more activist regulatory and tax response.” In plain English, wealth growth, under the Trump administration, will likely result in an “activist regulatory and tax response,” i.e., a super-wealthy person’s way of saying, “More tax breaks and less regulations!! For us!”
And, of course, being in a competitive society, the growth rate of super-wealthy families must hold on to its leadership position. Rooting against them would be Un-American!! The chart below shows just how hard it is to stay in the top 1%; there are so many 99%ers grasping cravenly at their fortunes: 85 million other families, versus 2.5 million super-wealthy. A very unfair fight. How is it that such a small contingent has been able to dominate so many millions of families? Hmmmmm…
This is wild. Very telling graphic.