Mon. Jun 17th, 2024
The AI stock craze creates 600,000 millionaires in the U.S., surpassing global wealth growth

The surge in millionaires in the United States has been driven by the impact of artificial intelligence on financial markets. In 2023 alone, the U.S. saw a growth of 600,000 millionaires, bringing the total number of Americans with investable assets of at least $1 million to 7.5 million. This increase outpaced other regions of the world, with North America reclaiming the highest growth rate for millionaires from Asia-Pacific region.

The combined wealth of all millionaires in the U.S. reached approximately $26 trillion, with about 100,000 individuals possessing a net worth of $30 million or more. One of the driving factors behind this increase was the surge in stock market performance, particularly among companies involved in artificial intelligence and technology.

In comparison to Asia’s growth rate of 4.8%, Europe and Latin America experienced increases of 4% and 2.7% respectively. The number of millionaires in Middle East rose by 2.1%, while Africa saw a slight decline of 0.1%. AI chip supplier Nvidia led the way with a gain of 239% in

By Aiden Nguyen

As a content writer at newscholarly.com, I delve into the realms of storytelling with the power of words. With a knack for research and a passion for crafting compelling narratives, I strive to bring forth engaging and informative articles for our readers. From decoding complex concepts to unraveling current events, I aim to captivate and educate through the art of writing. Join me on this journey as we explore the ever-evolving landscape of news and knowledge together.

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