Nearly one million people became millionaires worldwide in 2025, UBS report says
- Global personal wealth rose 10.8% in 2025, marking its strongest annual growth in recent years.
- Nearly one million new US dollar millionaires were created, with the United States accounting for almost half.
- UBS says wealth inequality continues to widen despite overall gains in global wealth.
Global personal wealth recorded its strongest annual increase in recent years during 2025, leading to the creation of nearly one million new US dollar millionaires worldwide, according to the UBS Global Wealth Report 2026 released on Tuesday.
The report said total personal wealth grew by 10.8% in 2025, a sharp acceleration from the 4.6% increase recorded in 2024 and the 4.2% rise seen in 2023. The growth was supported by strong financial markets, rising asset prices and favourable currency movements.
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UBS found that the number of US dollar millionaires reached a record high across the world, with the United States contributing nearly half of all new millionaires. More than 440,000 Americans crossed the US dollar millionaire threshold during the year, reflecting robust gains in stock markets and other financial assets.
Europe also experienced a significant rise in wealth measured in US dollars. UBS attributed much of this increase to the weakening of the US dollar against the euro, which boosted the dollar value of European assets.
Despite the strong overall growth, the report noted that the benefits were not shared equally. While average wealth continued to increase, median wealth — considered a better reflection of the financial position of a typical household — declined in many countries, highlighting a widening gap between the wealthiest individuals and the rest of the population.
According to UBS, the findings indicate that a large share of the wealth created in 2025 was concentrated among higher-income households, suggesting that wealth inequality has continued to deepen in the years following the COVID-19 pandemic.
The report examined household wealth across 56 markets, covering more than 92% of global wealth. It calculates wealth by combining financial assets, real estate and other tangible assets while subtracting household debt.
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