Explained: Why America keeps winning the billionaire game

The United States now holds 38% of the world’s ultra-wealthy, with $22.3 trillion owned by 192,470 individuals worth over $30 million. Despite tariffs, inflation, and global volatility, American wealth keeps multiplying—driven by tech dominance, deregulation, and a culture that rewards risk-taking. China and Europe trail far behind, unable to match America’s billionaire-making engine.