The Countries Creating the Most New Millionaires, Ranked

Who wants to be a new millionaire? It can be very difficult to reach that point depending on factors like the type of job you have or how much you could inherit from others. The more money you can save or the more you can invest can also help you reach that goal.

Where you live can also help you—or hinder you— when it comes to reaching that $1 million mark, with some countries providing more opportunities than others. The countries that created the most millionaires in 2025, for example, could give you a better chance than a country with fewer.

So which countries are best for making millions? Check the ranking, as reported on by Visual Capitalist, using data from the UBS Global Wealth Report.

The U.S. Has the Most New Millionaires By Far

The best place to live if you want to make more money is, perhaps unsurprisingly, the United States, where 441,078 millionaires were created in 2025. Those additions bring the number of U.S. residents with at least a seven-figure wealth to more than 23.6 million millionaires.

The U.S. increase is more than 10 times the number of millionaires created by the second-place United Kingdom, which added 43,139 millionaires during the same time frame. In fact, the U.S. was so dominant in the statistics that almost half of everyone who reached the million-dollar mark during that time were Americans.

But Europe does pull ahead in the top 10 countries that have created recent millionaires. Six of the top 10 countries that are have new millionaires are in Europe, with the UK, France, Spain, Italy, Germany, and Russia all seeing notable increases in the number.

The top 10 countries and number of millionaires they created in 2025 include:

Eastern Europe Sees Biggest Growth

While Americans can claim the number of overall new millionaires in 2025, Eastern European countries saw the biggest percentage increase in the number of millionaires they have, according to data from the UBS Global Wealth Report.

Lithuania led the percentage growth with an 8% increase in its millionaire population, bringing the country's total number to 921. Turkey came in second, with 6.4% growth in millionaires to 5,650 total residents with a seven-figure wealth.

Latvia, Hungary, and Ireland were also in the top five countries that saw the biggest percentage growth in the number of millionaires.

How Location Makes an Impact

So what does it take to become a millionaire? As mentioned, that can depend on several factors, including where you live.

Personal wealth in the United States, for example, has been increasing due to strong equity markets performing well. That helps to the widespread household investments, giving a rise to personal wealth in the country.

In Europe, growth comes from the regional economies working together. That widespread success gives several different countries an advantage when it comes to creating millionaires rather than one European country dominating the list.

Meanwhile, Asian markets have two issues creating millionaires depending on where they live. For markets in places like Japan, it's the stability of an established financial market that gives more residents a chance to become millionaires. On the other hand, places like India are seeing rapid economic expansion, creating an upsurge in new millionaires in the country.

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