(NewsNation) — A strong stock market helped mint 562,000 new millionaires in the U.S. last year, according to a new report.

The nation's high-net-worth population grew by 7.6% to 7.9 million in 2024, far outpacing the 2.6% global rise, Capgemini's World Wealth Report 2025 shows.

That domestic surge helped push the number of millionaires worldwide to a record 23.4 million.

High-net-worth individuals (HNWIs), defined as those with $1 million or more in investable assets, benefited from double-digit returns in the U.S. stock market, resilience fueled by stronger-than-expected economic growth and sustained enthusiasm for AI and tech stocks.

It was also a year of wealth concentration, with the ultra-rich emerging as the clear winners.

Globally, the number of so-called "millionaires next do

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