Europeans got richer last year, but they're still not even halfway to the average wealth enjoyed by Americans, according to UBS's Global Wealth Report. European average wealth per adult last year was $337,083, compared with $696,277 in the U.S.

Year on year, wealth gain was 17% in Western Europe and 8.5% in the U.S. in 2025. One big factor was a 9% rise in the euro against the dollar, UBS said, which made European households appear better off.

The U.S. had the most millionaires of any country. More than 40% of them were based there, compared with just over a quarter for all of Western Europe, according to UBS.