Global wealth rises 10.8% in 2025, creating nearly 1 million new millionaires

Global personal wealth increased by 10.8% in U.S. dollar terms in 2025, marking its strongest annual growth in recent years, according to the UBS Global Wealth Report 2025. The report found that nearly one million people became U.S. dollar millionaires during the year, equivalent to more than 2,600 new millionaires every day.

The report attributed the acceleration in global wealth growth to improving economic conditions and currency movements, particularly the depreciation of the U.S. dollar, which amplified wealth gains outside the United States.

Europe, the Middle East and Africa (EMEA) recorded the fastest regional wealth growth at 17.5%, followed by the Americas at 8.5%. Asia-Pacific also posted stronger momentum, with wealth rising 5.9% year over year.

Despite these regional gains, North America remained the wealthiest region on average, with per-adult wealth reaching approximately $660,000. Australia and New Zealand followed with nearly $590,000 per adult, while Western Europe exceeded $330,000.

Switzerland retained its position as the country with the highest average wealth per adult at $910,382, ahead of the United States and Luxembourg. Since 2020, South Korea has recorded the fastest growth in real average wealth per adult among the markets analyzed, with gains exceeding 50%.

“Global wealth is evolving rapidly, 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.

“For clients, these dynamics bring both complexity and choice. In this environment, having the right insights and a trusted partner is essential to help them navigate uncertainty, seize global opportunities, and make confident long-term decisions to protect and grow their wealth.”

The United States accounted for nearly half of all newly created millionaires in 2025, adding more than 440,000 individuals. Mainland China ranked second, while Japan, Germany, the United Kingdom and France each recorded more than two million millionaires.

According to the report, the United States and mainland China together continue to hold more than half of global personal wealth.

The study also highlighted broader improvements in wealth distribution over the past 25 years. The share of adults with wealth below $10,000 declined from nearly 75% in 2000 to just over 41% in 2025, while middle- and higher-wealth segments expanded. However, UBS noted that average wealth has grown faster than median wealth since 2020, suggesting that gains have been unevenly distributed across households.

“Global wealth rose for a third consecutive year and at a notably stronger pace, with average individual wealth increasing far faster than global economic growth,” said Robert Karofsky, Co-President of UBS Global Wealth Management.

The report also found that wealth growth was particularly strong among individuals with assets between $5 million and $100 million, especially in mainland China, Australia and the United States, underscoring the rapid expansion of the world’s wealthiest segments.

Residential property remained the largest asset for many households, particularly those with wealth below the millionaire threshold. However, UBS noted that the share of liquid, investable assets has steadily increased over the past decade in several high-wealth markets, pointing to a gradual shift toward more market-linked sources of wealth.

Looking ahead, UBS said global wealth is expected to continue rising, although future gains will increasingly depend on households’ access to investable assets and their ability to diversify their portfolios.