Global personal wealth recorded a significant increase in 2025, but the headline growth figures tell only part of the story. The UBS Global Wealth Report 2026 points to a world in which overall wealth is expanding rapidly, while its distribution, geographic concentration and relationship with household finances remain highly uneven.
Across the 56 markets analysed by UBS, representing more than 92% of global wealth, total personal wealth increased by 10.8% in US dollar terms in 2025, more than double the growth recorded in either of the previous two years. Financial markets contributed to the increase, alongside growth in non-financial assets. Currency movements also played an important role, particularly outside the United States, following the depreciation of the US dollar against several major currencies.
Regional differences were considerable. Europe, the Middle East and South Africa recorded combined wealth growth of approximately 17.5%, compared with 8.5% in the Americas and 5.9% in Asia-Pacific. The report cautions, however, that exchange rates influenced these comparisons. For example, the euro appreciated by almost 9% against the US dollar during 2025, increasing the dollar value of European wealth.
The expansion of the world’s millionaire population is another notable development. UBS estimates that its sample contained approximately 57.5 million US dollar millionaires, with almost one million people joining the group during 2025. The United States alone added more than 440,000, equivalent to over 1,200 new millionaires per day. More than 40% of the millionaires identified by UBS are based in the US, while Western Europe accounts for approximately one quarter.
At higher levels of wealth, the pattern remains strongly concentrated. Just over seven million adults globally hold between USD 5 million and USD 100 million, including more than four million in the United States and over half a million in mainland China. UBS calculates that the collective real wealth of people with assets above USD 5 million has increased by 343% since 2000.
Yet rising aggregate wealth does not mean that gains are being experienced equally. UBS reports that average wealth increased while median wealth declined in most of the markets studied, illustrating the importance of looking beyond headline totals. Average and median wealth can present markedly different pictures of the same economy, depending on how assets are distributed across its population.
For the luxury industry, these figures provide useful context rather than a simple forecast of spending. The continued expansion of millionaire and high-net-worth populations increases the scale of global private wealth, but the regional differences, currency effects and concentration of assets suggest that wealth growth should be considered market by market when assessing future luxury demand.
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Source: UBS Global Wealth Report 2026. The report’s wealth estimates draw on OECD data supplemented by data from the International Monetary Fund, United Nations, World Bank Group and national statistics offices. Figures and findings above have been independently summarised for WLCC and attributed to UBS rather than reproducing the report’s original editorial text.
