“The number of ‘everyday’ millionaires — those with wealth between $1 million and $5 million — is soaring…

There were nearly 52 million ‘everyday’ millionaires in the world last year, per a recent report from UBS. That’s four times the number in 2000.

Even accounting for inflation, the number of everyday millionaires in 2024 was 2.5 times what it was in 2000. The wealth manager does not break down how many of these folks live in the U.S. But America has, by far, more millionaires than any other country in the world.

New American millionaires were minted at a rate of about 1,000 a day last year. There are nearly 24 million millionaires in the U.S., 40% of the global total, and about four times the number than runner-up China.”

From Axios.

“Secure land tenure transforms dormant assets into active capital—unlocking access to credit, encouraging investment, and spurring entrepreneurship. These are the building blocks of job creation and economic growth.

When landowners have secure property rights, they invest more in their land. Existing data shows that with secure property rights, agricultural output increases by 40% on average. Efficient land rental markets also significantly boost productivity, with up to 60% productivity gains and 25% welfare improvements for tenants…

Building on a long-term partnership with the World Bank, the Government of Côte d’Ivoire has dramatically accelerated delivery of formal land records to customary landholders in rural areas by implementing legal, regulatory, and institutional reforms and digitizing the customary rural land registration process, which is led by the Rural Land Agency (Agence Foncière Rurale – AFOR).

This has enabled a five-fold increase in the number of land certificates delivered in just five years compared to the previous 20 years.”

From World Bank.

“Global poverty estimates up to 2023 were updated today on the Poverty and Inequality Platform (PIP), including nowcasted estimates up to 2025. The update includes three main changes to the PIP data (See the What’s New document for more details): First, the update brings new survey data for several country-years, including important updates to data from India; second, it includes the adoption of the 2021 Purchasing Power Parities (PPPs); and third, based on the new PPPs and new survey data, including new national poverty lines, the update revises the global poverty lines.

As a result of these combined changes, the global extreme poverty rate in 2022 is revised up from 9.0 to 10.5 percent, corresponding to an increase in the number of individuals living below the international poverty line from 713 to 838 million…

While revised poverty lines, underlying data revisions, and changes in PPPs affect the level of poverty, from a historical lens, the trends remain similar. The following graph shows the estimated poverty rates by regions since 1990. The graph also depicts the updated nowcasts of poverty following the methodology introduced in the September 2024 update. The nowcast suggests a modest decline in the global extreme poverty rate from 10.5 percent in 2022 to 9.9 percent in 2025. Based on the latest data, the South Asia region experienced the most significant decline in extreme poverty between 2022 and 2025. Conversely, the Middle East and North Africa was the only region to experience an increase in poverty during this period, up from 8.5 percent in 2022 to 9.4 percent in 2025.”

From World Bank.

“Jamaica’s poverty prevalence for 2023 was estimated at 8.2 per cent, a decline from 16.7 per cent in 2021.

Planning Institute of Jamaica (PIOJ) Director General, Dr. Wayne Henry, disclosed that it was ‘the lowest figure ever recorded since poverty rates were first measured in 1989.'”

From Magnetic Media.