The U.S. minted 1,000 new millionaires each day last year, UBS report says
CBSJUN 16
Report: US Added Over 1,000 New Millionaires Daily in 2024
Above: People rally in support of fair taxation near the U.S. Capitol in Washington, D.C. on April 10, 2025. Image copyright: Bryan Dozier/Middle East Images/AFP via Getty Images
The Spin
Left narrative
Behind America's millionaire surge lies a stark inequality: while the wealthy celebrate record gains, 59% of Americans struggle to survive paycheck to paycheck. The top 10% greedily clutch 69% of all wealth while the bottom half scrapes by with merely 3%. These glittering statistics conceal a nation where the few hoard prosperity grotesquely.
Right narrative
America's inequality panic dissolves under honest analysis: Government statistics ignore $45,000 in annual transfers to the poor, transforming reality's modest 4-to-1 wealth ratio into a terrifying 16.7-to-1 fabrication. This manufactured crisis feeds progressive narratives while concealing the truth — genuine prosperity has lifted all boats, with 44% of households now earning what only the top 20% once enjoyed.