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379,000
America’s millionaire population grew by 379,000 for a total of 23.8 million, the most of any country, according to a new study by UBS, CNBC reports. Much of that wealth growth came from strong markets and a stable dollar, which both have been disrupted so far in 2025 by a trade war and recession fears.
“Theirs is a logic of destruction. It is very hard to create a large, legitimate, functioning government. The oligarchs have no plan to govern. They will take what they can, and disable the rest. The destruction is the point. They don’t want to control the existing order. They want disorder in which their relative power will grow.”
$9 billion
Trump has nominated at least 10 billionaires (or billionaire spouses) to cabinet positions and other top roles, making the incoming presidential team the wealthiest in history. Just his cabinet nominees are collectively worth more than $9 billion, according to New York Magazine. Though Biden’s cabinet is also a moneyed persons club, its wealth amounted to just $118 million in 2021, per Forbes.
