Global Millionaire Population Surges 7.9% in 2025, Ultra-High-Net-Worth Individuals See Faster Growth

The Global Wealth Boom: Millionaire Population Hits 25.3 Million

A new study by Capgemini, the World Wealth Report, reveals that the global population of millionaires—defined as individuals with at least $1 million in investible assets (excluding primary residence, collectibles, and consumer goods)—increased by 7.9% in 2025 to 25.3 million. Their total wealth grew by 8.7%, reaching $98.3 trillion.

The Ultra-Rich Are Getting Richer Faster

The ultra-high-net-worth (UHNWI) population grew by 9.4% to 250,000, and their wealth increased by 9.7%.

Growth among ultra-high-net-worth individuals (UHNWIs), those with $30 million or more in investible assets, outpaced that of millionaires overall. UHNWIs now constitute just 1% of the millionaire population but hold 35% of total millionaire wealth.

According to Capgemini's global banking industry lead, this faster growth is partly attributed to their access to higher-return private investments, such as pre-IPO opportunities and private markets.

Regional Highlights

United States

• Added 730,000 new millionaires, bringing the total to 8.73 million.
• Their wealth rose by nearly $3 trillion to $31.3 trillion.

Asia

• Millionaire population grew by 9.4% to 8.3 million; wealth increased by 10.5%.
• Taiwan and Korea, driven by stock market surges, are leading wealth creation, while China's role as the main growth engine has diminished.

Europe

• Millionaire population increased by 6.5%.

Latin America

• Millionaire population grew by just 0.3%.

Middle East

• Saw a 1.4% decline in millionaire population.

Investment Allocation Changes (2025 vs 2024)

Stocks increased from 22% to 25%, while cash dropped from 26% to 24%.

The data shows a clear shift away from cash and alternatives toward equities and fixed income, reflecting a more risk-on posture among the wealthy in 2025.