Despite a large share of the world’s population continuing to live below the poverty line, the number of millionaires across the globe has reached a record level, according to a new global wealth report.
A report by Swiss banking giant UBS found that global personal wealth rose sharply in 2025, creating nearly one million new US dollar millionaires worldwide.
According to the UBS Global Wealth Report 2025, global personal wealth increased by 10.8% during the year, a significant acceleration from 4.6% in 2024 and 4.2% in 2023.
The United States accounted for the largest share of newly created millionaires, with more than 440,000 people joining the ranks of US dollar millionaires almost half of the global total.
The report also highlighted a notable rise in wealth across Europe when measured in US dollar terms, largely driven by the depreciation of the US dollar against the euro during the previous year.
However, UBS warned that while average wealth continued to grow, wealth inequality has also widened since 2020, indicating that the benefits of rising global wealth have not been evenly distributed.
The report is based on an analysis of 56 countries, which together represent more than 92% of global wealth, according to UBS.
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