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UBS estimates that more than 23.6 million U.S. residents were dollar millionaires at the end of 2025. For billionaires, Forbes counted 989 Americans on its 2026 annual list, using prices and exchange rates from March 1, 2026. UBS’s newer 2026 report gives a later, rounded figure of over 1,000 U.S. billionaires for its April 2025–April 2026 observation period, without publishing an exact U.S. total.
How many U.S. millionaires are there?
UBS’s 2026 Global Wealth Report estimates more than 23.6 million U.S. dollar millionaires at year-end 2025. That is part of an estimated 57.5 million millionaires across the report’s 56-market sample. UBS says the U.S. gained 441,078 millionaires during 2025, an increase of 1.9%—more than 1,200 a day.
What UBS means by “millionaire”
The count is based on estimated individual net wealth, not income or cash on hand. UBS includes financial and real assets, particularly housing, and private pension-fund assets, then subtracts debts. It excludes human capital and unfunded government-pension promises. A person can therefore meet the threshold through a combination of home equity, investments and pension assets without holding $1 million in readily spendable money. UBS generally expresses wealth in U.S. dollars using end-period exchange rates.
How many U.S. billionaires are there?
Forbes counted 989 U.S. billionaires on its 2026 annual list, the highest country total and a record for the United States. Forbes valued fortunes using share prices and exchange rates as of March 1, 2026.
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UBS’s 2026 Global Wealth Report describes the United States as having “over a thousand” billionaires in its April 2025–April 2026 observation period. It does not give an exact U.S. count in that passage. The precise figure to cite depends on the source and date: 989 is the Forbes annual-list count at its stated March 1 snapshot; UBS’s later period supports only a rounded “over 1,000.”
Why do the reported counts differ?
These are not two readings of a single live census. Forbes’s annual list and UBS’s report use different valuation periods and methodologies. Forbes provides a specific date for its 2026 list, while UBS refers to a later year-long billionaire observation period and reports the U.S. total only as “over a thousand.” That difference does not establish that either figure is an error.
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The millionaire estimates have a separate comparability issue. UBS reported 23.831 million U.S. dollar millionaires for 2024 in its 2025 report. That earlier figure should not be used to calculate a clean year-over-year change against the newer estimate: UBS revises historical estimates and methods and warns that totals from different report editions are not comparable.
Independent reader supportYour contribution helps us test, update, and keep practical guides available for everyone.How these figures compare with U.S. household wealth data
The Census Bureau publishes household wealth and asset-ownership tables based on its Survey of Income and Program Participation (SIPP), including 2024 household estimates released in July 2026. Those figures describe households, while UBS’s millionaire estimate counts individuals under its net-wealth definition. The populations and units of analysis differ, so a Census household figure is not a direct substitute for UBS’s individual count.
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