Global Wealth Jumps as Millionaire Ranks Swell
Global personal wealth climbed 10.8% in 2025, marking its strongest annual increase in three years as financial markets, currency movements and expanding investable assets fueled gains across major economies, according to the 17th edition of the UBS Global Wealth Report.
The increase, measured in U.S. dollar terms, more than doubled the pace recorded in 2024 and 2023. Europe, the Middle East and Africa led regional growth with a 17.5% increase, followed by the Americas at 8.5%, while Asia-Pacific posted a 5.9% gain, accelerating from the prior year. UBS said the depreciation of the U.S. dollar amplified wealth gains outside the United States.
North America remained the world’s wealthiest region, with average wealth per adult reaching approximately $660,000. Australia and New Zealand followed at nearly $590,000 per adult, while Western Europe exceeded $330,000. Switzerland retained its position as the world’s wealthiest country on a per-adult basis, averaging more than $910,000, ahead of the United States and Luxembourg.
The report found the number of U.S. dollar millionaires increased 1.5% in 2025, creating nearly one million new millionaires worldwide—more than 2,600 each day. The United States accounted for nearly half of those additions, adding more than 440,000 millionaires. Mainland China, Japan, Germany, the United Kingdom and France each now have more than two million millionaires.
“Global wealth is evolving at pace, with growth increasingly shaped by shifting economic conditions, technological change and new sources of opportunity across markets,” said Iqbal Khan, co-president of UBS Global Wealth Management.
UBS also highlighted growing momentum among ultra-high-net-worth investors. Wealth held by individuals with between $5 million and $100 million expanded rapidly, particularly in mainland China, Australia and the United States, reflecting continued concentration of wealth at the upper end of the market.
While more households have accumulated wealth over the past two decades, the report found widening differences between average and median wealth, suggesting gains have become increasingly uneven. Looking ahead, UBS said future wealth creation will depend increasingly on access to investable assets and diversification, as market-linked portfolios continue to outpace wealth concentrated primarily in residential real estate.
