Global wealth rises 10.8% in 2025 as one million new millionaires emerge

Global personal wealth increased by 10.8% in 2025, the fastest annual growth since 2017 and the third consecutive year of expansion, significantly outpacing gains of 4.6% in 2024 and 4.2% in 2023, according to the UBS Global Wealth Report 2026.

Wealth growth was strongest in Europe, the Middle East and Africa (EMEA), at 17.5%, followed by the Americas at 8.5%. Asia Pacific (APAC) recorded growth of 5.9%, an acceleration from 2024. These regional differences partly reflect currency movements, most notably the depreciation of the US dollar, which amplified wealth increases outside the United States. The 17th edition of the Global Wealth Report highlights the following global and regional developments:

Adults in North America remained the wealthiest on average, with average wealth per adult of $660,000, followed by Australia and New Zealand at almost $590,000, while Western Europe reached over $330,000.

Switzerland continued to top the ranking for average wealth per adult at $910,382, followed by the United States and Luxembourg.

Since 2020, South Korea has led growth in real average wealth per adult across the markets analysed, with gains of over 50%, alongside strong increases above 25% in Croatia, Norway, Latvia, Taiwan and Bulgaria.

The number of USD millionaires rose by 1.5% in 2025, equivalent to nearly one million new millionaires globally, or more than 2,600 per day.

The United States accounted for almost half of newly created millionaires in 2025, adding more than 440,000 individuals, followed by mainland China, Japan, Germany, the United Kingdom, and France, each counting over two million millionaires in total.

Over half of global personal wealth remained concentrated in the United States and mainland China combined, underscoring their continued dominance.

The proportion of adults in the lowest wealth band, i.e. below $10,000, dropped from almost 75% in 2000 to just over 41% in 2025, even as middle and higher segments expanded.

Looking at developments since 2020, global wealth trends revealed a growing divergence between average wealth and median outcomes, underscoring uneven gains across households.

Iqbal Khan, co-president, UBS Global Wealth Management, said: “Global wealth is evolving at pace, with growth increasingly shaped by shifting economic conditions, technological change and new sources of opportunity across markets. For clients, these dynamics bring both complexity and choice. In this environment, having the right insights and a trusted partner is essential, helping them navigate uncertainty, seize global opportunities and make confident, long-term decisions to protect and grow their wealth”

Robert Karofsky, co-president, UBS Global Wealth Management, added: “Global wealth rose for a third consecutive year, and at a notably stronger pace, with average individual wealth increasing at a rate far outstripping global economic growth. In this environment, disciplined stewardship matters more than ever. Clients are turning to trusted partners with global reach, local insights and integrated capabilities to help them manage, grow and preserve what matters most to them.”

Higher wealth segments gained momentum

Growth was particularly strong in wealth segments above $5 million, the “bigger siblings” of everyday millionaires (EMILLIs) with assets between $1 million and $5 million, which represent a fast-growing group within the global affluent population. These higher tiers, spanning $5 million to $100 million, have been expanding rapidly in both number and total wealth.

This acceleration was especially pronounced in markets such as mainland China, Australia and the United States, highlighting the increasing dynamism and depth of growth at the very top of the wealth spectrum.

Beyond the expansion of wealth across higher segments, the report highlights how asset composition has been shaping outcomes. For many households, particularly up to EMILLI level, residential property remained the dominant asset, which can limit participation in market-driven gains. At the same time, the share of liquid, investable assets has increased over the past decade across key selected markets, with high average wealth per adult, pointing to a gradual shift toward more market-linked wealth.

Looking ahead, while global wealth is likely to continue growing, outcomes will increasingly depend on access to investable assets and the ability to diversify, shaping how widely future gains will be shared.

Re-disseminated by Wealth and Society