2024 UBS Global Wealth Report ranks Australia 2nd in median wealth at $387,176, behind Luxembourg's $550,610.

2024 UBS Global Wealth Report ranks Australia 2nd for median wealth at $387,176, behind Luxembourg's $550,610. The report analyzed financial data from 56 countries, defining net worth as financial assets, real assets, and subtracting debts. Australia has more millionaires than ever, but the report raises questions about whether being a millionaire is a helpful financial goal.