Nearly 1 million people became millionaires in 2025, largely driven by a thriving stock market, according to a new UBS report. The United States accounted for approximately 441,000 of these newly minted millionaires, adding an average of more than 1,200 new millionaires daily last year. The Swiss bank found that stock market gains boosted global personal wealth by 10.8%, the largest increase since 2017 and more than double the growth rates of 2024 and 2023. UBS economist James Mazeau attributed the wealth creation to increased exposure to financial markets among richer individuals, noting that the U.S. stock market rose approximately 18% in 2025. However, the robust wealth growth masked a widening wealth gap, with median wealth declining in most of the 56 markets monitored by UBS, while millionaires and billionaires captured disproportionate gains.
Stock Market Performance Drives 10.8% Global Wealth Increase
The Swiss bank estimated that global personal wealth increased by 10.8% in 2025, representing the biggest jump since 2017. This growth rate was more than double the rates recorded in 2024 and 2023. UBS economist James Mazeau told CNBC that richer individuals reaped bigger gains compared to the broader population last year as they have more exposure to financial markets. The U.S. stock market rose by approximately 18% in 2025, according to Mazeau. He stated that "the higher you go in the wealth bands, the more wealth creation will tend to be linked to either the performance of your business or your investment portfolio—or both."
Americas Add 441,000 Millionaires With Regional Variations
The United States was responsible for nearly half of the newly minted millionaires globally, adding about 441,000 millionaires in 2025. America's millionaire population increased by 1.9% in 2025. The depreciation of the U.S. dollar last year contributed to discrepancies in global wealth creation as the bank tracks wealth in terms of USD. Most European and Middle Eastern markets saw higher percentage gains, including Turkey at 6.4% and the United Arab Emirates at 3.5%. In terms of combined personal assets, the Americas' growth rate was estimated at 8.5%, while the Asia-Pacific region recorded 5.9%. Europe, the Middle East and Africa saw a 17.5% rate.
Median Wealth Declines 20% in U.S. Despite Millionaire Growth
The robust global wealth growth was belied by declines in median wealth in most of the 56 markets monitored by UBS, pointing to a growing wealth gap. In the U.S., median wealth per adult has declined by nearly 20% from 2020 to 2025, while average wealth has increased by about 10% over the same period of time, net of inflation, according to the bank's data analysis. UBS estimated that the world's millionaire population, which the bank puts at 58 million, owns nearly half of the world's wealth, or approximately $250.6 trillion. The combined assets of "everyday millionaires," or individuals worth $1 million to $5 million, has jumped by 170%, net of inflation, since 2000. Over that same period, the collective fortune of richer peers soared by 343%.
Billionaire Net Worth Surges 25% in Year Ending in April
The world's billionaires saw their collective net worth surge by nearly 25% in the year ending in April, according to UBS. The report noted that much of this increase was due to an increase in the number of billionaires, not just three-comma club members getting richer.
FAQ
What caused nearly 1 million people to become millionaires in 2025?
Nearly 1 million people became millionaires in 2025 largely due to a thriving stock market, according to a UBS report. The U.S. stock market rose approximately 18% in 2025, and richer individuals with more exposure to financial markets reaped bigger gains. Global personal wealth increased by 10.8%, the largest jump since 2017.
How many new millionaires did the United States create in 2025?
The United States added approximately 441,000 new millionaires in 2025, averaging more than 1,200 new millionaires per day last year. This represented nearly half of all newly minted millionaires globally, according to UBS.
Why did median wealth decline in the U.S. while millionaires increased?
In the U.S., median wealth per adult declined by nearly 20% from 2020 to 2025, while average wealth increased by about 10% over the same period, net of inflation. UBS found that richer individuals with more exposure to financial markets captured disproportionate gains from stock market performance, widening the wealth gap between the broader population and high-net-worth individuals.
