A new report from UBS Group AG indicates that the global number of millionaires will rise to 58 million in 2025, fueled by rising stock markets.

The United States was the country with the largest increase in new millionaires, adding over 440,000 last year, which equates to more than 1,200 new millionaires emerging every day on average.

Global personal wealth surged by 10.8% in 2025, marking the largest increase since 2017. However, the benefits of this wealth growth were disproportionately captured by affluent households.

The report highlights that nearly half of all new millionaires worldwide came from the United States. The country saw approximately 441,000 new millionaires in 2025.

While the average wealth per adult saw significant gains, the median wealth declined in most of the 56 markets monitored, indicating a widening wealth gap. For instance, in the U.S., after adjusting for inflation, average adult wealth rose about 10% from 2020 to 2025, but median wealth fell sharply by nearly 20%.

Currently, there are 58 million millionaires globally, holding nearly half of the world's total wealth, which amounts to approximately $250.6 trillion.

An economist from the bank noted that affluent individuals, being deeply involved in financial markets, reaped far greater wealth increases from last year's stock market gains compared to the general population. The U.S. stock market rose about 18% in 2025.

He stated that at higher wealth levels, personal wealth growth tends to rely more on business profits or investment portfolio returns, or a combination of both.

Wealth distribution is also highly uneven within the millionaire group itself. Data shows that since 2000, after inflation, the total assets of 'standard' millionaires (with $1-5 million) have accumulated a 170% increase, while the wealth of ultra-high-net-worth individuals has skyrocketed by 343%.

The report also notes that the net worth of the world's billionaires surged nearly 25% in the year through April, driven largely by an increase in the number of billionaires rather than just wealth growth among existing ones.

Wealth growth rates varied significantly by region, partly due to the U.S. dollar's depreciation. The U.S. remains the country with the most millionaires, but their number grew only 1.9% in 2025. Countries like Turkey (6.4%) and the UAE (3.5%) saw higher growth rates. In terms of total household asset growth, the Americas region grew 8.5%, Asia-Pacific grew 5.9%, and the Europe, Middle East, and Africa region saw 17.5% growth.

The economist commented that it is still too early to assess the full impact of geopolitical conflicts on the wealth of high-net-worth individuals in the Middle East, as factors like asset allocation and currency movements are key variables.

The ultimate outcome depends on the proportion of an investor's wealth held in overseas assets. For example, a Middle Eastern investor with most wealth in U.S. stocks and a currency pegged to the dollar would see little impact from currency fluctuations. However, an investor diversified into assets denominated in currencies that appreciate against the dollar would see more favorable wealth performance in 2026 when measured in dollars.

He added that geopolitical conflicts could also prompt global investors to re-evaluate and adjust their portfolios.

Questions remain about whether investors will further diversify assets, increase direct investment in the U.S., or how the conflict will reshape global investment patterns, philosophies, and asset allocation strategies.