Stock market gains minted nearly 1 million new millionaires in 2025, new UBS report says

• The U.S. stock market rose approximately 18% in 2025, with wealthier individuals benefiting disproportionately due to greater exposure to financial markets
• U.S. median wealth per adult declined nearly 20% from 2020 to 2025, while average wealth increased about 10% over the same period, highlighting growing wealth inequality
• The world's 58 million millionaires now control nearly half of global wealth, approximately $250.6 trillion, with over 40% of all millionaires residing in the United States

Summary

Key Findings

A new UBS report reveals that nearly 1 million people became millionaires in 2025, driven primarily by strong stock market performance. The global millionaire population reached 58 million individuals, collectively owning approximately $250.6 trillion—nearly half of the world's wealth.

Geographic Distribution

The United States led growth, adding over 440,000 millionaires (an average of 1,200 daily), accounting for nearly half of all new millionaires globally. The U.S. now hosts more than 40% of the world's millionaires (approximately 24 million people). European and Middle Eastern markets showed stronger percentage gains, with Turkey up 6.4% and UAE up 3.5%, though the Americas' combined personal assets grew 8.5%.

Wealth Inequality Concerns

Global personal wealth surged 10.8% in 2025—the largest increase since 2017 and double the 2024-2023 rate. However, this growth was highly uneven. In the U.S., median wealth per adult declined nearly 20% from 2020-2025, while average wealth rose 10% (inflation-adjusted), highlighting a widening wealth gap. UBS economist James Mazeau noted that wealthier individuals benefited disproportionately due to greater financial market exposure, with U.S. stocks rising approximately 18% in 2025.

Market Segments

"Everyday millionaires" ($1-5 million net worth) saw assets jump 170% since 2000, while wealthier peers gained 343%. Billionaires' collective net worth increased nearly 25% year-over-year, largely from an expanding billionaire population rather than existing members growing richer.

Outlook

U.S. dollar depreciation contributed to regional wealth disparities. The impact of the Iran conflict on Middle Eastern high-net-worth individuals remains uncertain, dependent on asset allocation and currency trends.