Global personal wealth recorded its strongest growth in years during 2025, creating nearly one million new US dollar millionaires worldwide, according to UBS’s latest Global Wealth Report. The bank said stronger financial markets played a major role in boosting asset values, helping total personal wealth rise much faster than in recent years.
According to the report, global personal wealth increased by 10.8% in 2025, a sharp improvement from 4.6% growth in 2024 and 4.2% in 2023. UBS said the rapid expansion reflected stronger investment performance across financial markets, leading to record wealth creation and a significant rise in the number of high-net-worth individuals around the world.
The United States contributed the largest share of new millionaires, with more than 440,000 people reaching US dollar millionaire status during the year. That accounted for almost half of the global increase, making the country the biggest driver of worldwide wealth growth. Meanwhile, Europe also recorded strong gains in US dollar terms, supported by the weaker US dollar against the euro.
Despite the surge in overall wealth, UBS warned that the benefits were not shared equally across society. While average wealth continued to increase, median wealth declined in many countries after 2020, indicating that wealth became more concentrated among richer households while many middle-income families experienced slower financial progress.
For its annual study, UBS examined 56 markets that together represent more than 92% of the world’s total wealth. The findings suggest that although financial markets continue creating new millionaires at a record pace, rising wealth inequality remains a growing challenge for economies seeking more balanced and inclusive long-term growth.