How Many Millionaires Are in the World? Statistics and Trends for 2026

The number of millionaires in the world grew again in 2025. Two major reports link the rise to strong stock markets. Their totals differ, because each firm measures wealth in its own way.

This article uses three sources: the Capgemini World Wealth Report 2026, a UBS report covered by CNBC, and a millionaire statistics guide from Empower. Together they show how many millionaires there are, where they live, and how they invest.

All money figures are in US dollars. Percentages refer to 2025 unless the text says otherwise.

Key Millionaire Statistics

• Capgemini counts 25.3 million high-net-worth individuals worldwide in 2025.
• UBS counts 58 million millionaires worldwide in 2025.
• The US added 736,000 millionaires in Capgemini data and about 441,000 in UBS data.
• Asia-Pacific had the fastest growth in millionaires, at 9.4%.
• The Middle East was the only region where the count fell, down 1.4%.
• Only 19% of wealthy clients now use a single wealth firm, down from 39% in 2019.

How Many Millionaires Are There in the World?

Capgemini counted 25.3 million high-net-worth individuals (HNWIs) worldwide in 2025. That is a rise of nearly 2 million in one year. The firm uses this group as its measure of the global millionaire population.

UBS gives a much higher number. It estimates that the world has 58 million millionaires, based on the 56 markets it tracks. UBS says this group owns nearly half of all personal wealth, or about $250.6 trillion.

The gap between 25.3 million and 58 million comes from method, not from a disagreement about the trend. Both reports show growth, and both link it to stock market gains. Readers should pick one source and stay with it when comparing years.

An earlier guide from Empower cites a record 23.4 million millionaires in 2024. That number is about 1.9 million below Capgemini’s 2025 figure, which fits the rise Capgemini describes.

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Counting millionaires is hard because wealth moves with markets and currencies. A fall in share prices or a shift in exchange rates can move people across the line in either direction. This is why one year can produce very different totals.

This is the 30th edition of the Capgemini report, which has tracked global wealth for three decades. Capgemini executive Kartik Ramakrishnan called 2025 an exceptional moment for the size of the HNWI population and the assets it controls.

How Much Wealth Do Millionaires Hold?

Capgemini says HNWI wealth rose 8.7% in 2025 to a record $98.3 trillion. This was the largest one-year increase since 2018. Strong stock markets and easing inflation drove the gain.

UBS reports that global personal wealth rose 10.8%. That is the biggest jump since 2017, and more than double the rate in both 2024 and 2023. The US stock market rose about 18% in 2025, according to UBS economist James Mazeau.

Mazeau said wealth creation ties more closely to business results and investment returns as people move up the wealth bands. This helps explain why richer groups gained more. People with more money tend to hold more shares.

The two reports track different groups, so their growth rates should not be compared line by line. Capgemini follows HNWIs, while UBS measures personal wealth across the adults in its 56 markets.

UBS tracks wealth in US dollars, so the weaker dollar in 2025 changed how growth looked by region. UBS put wealth growth at 17.5% for Europe, the Middle East and Africa. The Americas rose 8.5% and Asia-Pacific rose 5.9%.

Where Are Millionaires Growing Fastest?

Capgemini found that stock markets, helped by AI-related rallies, drove wealth growth in five of six regions. Asia-Pacific grew fastest, with a 9.4% rise in millionaires and 10.5% growth in wealth. Demand for semiconductors lifted stock markets across Asia.

North America followed at 9.1%, led by the United States. Europe grew 6.5% after a decline in 2024, helped by steadier stock markets and easing inflation. Empower cited a 2.1% drop in Europe’s millionaire count in 2024.

Africa grew 4.1%, helped by higher prices for precious metals. Latin America grew only 0.3%, as trade uncertainty held back expansion. The Middle East was the only region to shrink, down 1.4%.

Capgemini blamed lower oil prices, regional conflict and labor market strain for the Middle East decline. UBS said it is too early to know how the Iran war will affect wealthy investors there. The result may depend on how much of their wealth sits in US assets and currencies.

The six regions differ in size, so a high growth rate does not always mean a large gain. A fast rise from a small base can add fewer people than a slow rise in a big market.

How Many Millionaires Are There by Country?

The United States added more millionaires than any other country. Capgemini says it added 736,000 in 2025, a 9.2% rise that took the total to 8.7 million. In 2024, a report cited by Empower said the US added 562,000, a rise of 7.6%.

UBS gives a lower US figure. It estimates a gain of about 441,000, or more than 1,200 new millionaires a day, a rise of 1.9%. UBS also notes that the US still has the largest millionaire population in the world.

Japan added 436,000 millionaires and China added 154,000, according to Capgemini. Canada added 30,000, Australia added 18,100 and India added 11,300. Among the countries named in the report, Japan had the second-largest gain after the US.

The US figures differ between sources for a few reasons. UBS says the weaker dollar made gains in other markets look larger when measured in dollars. The two firms also define and count millionaires in their own ways.

Smaller markets grew faster in percentage terms. Morocco rose 16.8% and Luxembourg rose 13.5%. Germany rose 11.1%, while France and the United Kingdom rose 2.7% and 2.6%.

UBS reported a 6.4% rise in Turkey and a 3.5% rise in the United Arab Emirates. In Mexico, Capgemini found the HNWI population rose 1.8% and HNWI wealth rose 5.4%.

The Ultra-Wealthy and the Wealth Gap

Capgemini counts about 250,000 ultra-high-net-worth individuals (UHNWIs). Their number rose 9.4%, making them the fastest-growing wealth group for a second year. Their wealth rose 9.7%, which beat the 8.7% rise for HNWIs overall.

Wealth is concentrated at the top. The richest 1% of HNWIs hold 34.8% of all HNWI wealth. UBS reports that the combined net worth of the world’s billionaires rose nearly 25% in the year to April, partly because there were more billionaires.

UBS also found that gains were uneven among millionaires. Everyday millionaires, with $1 million to $5 million, saw combined assets rise 170% since 2000 after inflation. Richer groups saw a rise of 343%.

Median wealth fell in most of the 56 markets UBS tracks, even as total wealth rose. In the US, median wealth per adult fell nearly 20% from 2020 to 2025. Average wealth rose about 10% over the same period, after inflation.

These gaps matter for the wider picture. Total wealth can rise sharply while the typical person sees little change. UBS points to stock market exposure as a main reason richer households gain more.

Empower adds US data for 2024. Wealth for Americans worth $30 million or more rose close to 12%. The number of US multi-millionaires, worth $10 million or more, rose 5.2%.

What Do Millionaires Invest In?

Stocks took a larger share of wealthy portfolios. Capgemini says equities made up 25% of HNWI portfolios in January 2026, up three percentage points from a year earlier. Strong corporate earnings and tech gains drove the change.

Fixed income rose to 20%, up two points. Bond markets had their best returns since 2020. Alternative investments fell to 12%.

Capgemini says the fall in alternatives reflects the stronger showing of public stocks. Interest in them has not gone away, though. Two in three HNWIs (68%) plan to raise their exposure to private equity.

In the US, Empower reports that 47% of millionaires own stocks. Their average portfolio is worth $949,248.

US Millionaires by Age and Habits

The Federal Reserve puts the average age of a US millionaire at 61. Empower data from June 2025 shows Americans in their 50s have an average net worth of about $1.3 million. People in their 60s have average retirement savings of about $1.1 million.

Retirement millionaires hold an average of $2.4 million, based on Empower data from December 2024. Their number rose 29% between 2023 and 2024. Gen Xers have an average net worth of $1.1 million.

Americans say they need $5.3 million in net worth to feel financially successful, according to Empower research. That is more than five times the millionaire line. The Federal Reserve reported in 2023 that average household net worth passed $1 million, up 42% from 2019 to 2022.

Most millionaires own a home. About 95% do, at an average value of $982,938. Around 60% of people worth $30 million or more are self-made, meaning they built wealth through business, investing or their own pay.

Card habits differ too. Some 70% of millionaires hold two or more credit cards, compared with 41% of people under $1 million. Millionaires are also more than twice as likely to hold a travel card, at 49% versus 23%.

Giving is concentrated at the top. IRS data shows people with adjusted gross income above $10 million gave $55.9 billion in 2022. That was 48.2% of all donations.

Empower notes that millionaire status often arrives late in life. Many Americans reach it through years of saving in retirement accounts such as 401(k) plans. Its guide names starting early, saving regularly and investing for the long term as the main steps.

Where US Millionaires Live and Work

California has the most people with a net worth of $1 million or more, and Texas is second, according to Empower. Among Empower users who are millionaires, Nevada has the highest average net worth at $4.6 million. Many millionaires also live outside the biggest population centers.

Of the 400 wealthiest Americans, California is home to 82, the most of any state. Florida and New York each have 54. Texas has 43.

Career paths matter, though none guarantees wealth. The Bureau of Labor Statistics says the top-paying jobs, with median pay of $239,200 or more, are all medical roles. They include surgeons, radiologists, pathologists, cardiologists, dermatologists and ophthalmologists.

Outside health care, airline pilot is the top-paying job, at $226,600 a year. Architecture and engineering jobs have a median salary of $97,310. Engineering is the highest-paying non-medical college major.

How Wealthy Clients Choose Their Advisors

Wealthy clients now spread their money across more firms. In 2019, 39% of HNWIs worked with a single firm. In 2025, only 19% did.

Product access is a main reason. About 88% of HNWIs use multiple firms to reach better alternative investments. Capgemini estimates that $1.5 trillion in new assets went to competitors of traditional firms between 2022 and 2025.

WealthTechs, single-family offices and robo-advisory platforms are taking market share from older firms. Capgemini says these rivals attract clients who feel underserved on product range, advice quality or both.

Service quality is another issue. Only 17% of HNWIs call their advice experience seamless and personalized, and 42% must repeat their goals to the same firm. Some 97% of firms still group clients mainly by assets under management.

Ramakrishnan says younger HNWIs who gain from wealth transfers want more product access and personalization. He says firms that deliver this at scale with AI tools will lead the next era of wealth management.

Inside firms, 60% of executives say they lack a unified view of the client. Advisors spend 41% of their time on operational tasks. Some 76% want AI tools to automate routine work, and 61% want access to a wider group of specialists.

Good service pays off. When firms get the experience right, 53% of HNWIs recommend them and 47% move more assets to them.

About the Data

Capgemini’s report draws on three surveys. They polled 6,510 high-net-worth individuals in 27 markets, 144 senior executives in 24 markets, and 1,317 relationship managers in 24 markets. UBS and Empower figures come from their own research and the public data they cite.

Millionaire Statistics: Key Points

The world had between 25.3 million and 58 million millionaires in 2025, depending on the source. Both reports show strong growth driven by the stock market. The US added the most millionaires, and Asia-Pacific grew fastest.

Gains were uneven. Ultra-wealthy groups grew fastest, and median wealth fell in most markets UBS tracks. The Middle East was the only region to lose millionaires.

Readers should check which source and definition sit behind any millionaire figure. The same year can look very different depending on the measure.

Sources

• Global millionaire population jumps by nearly 2 million in 2025, driven by strong stock market performance worldwide (Capgemini)
• Stock market gains minted nearly 1 million new millionaires in 2025, new UBS report says (CNBC)
• What makes a millionaire? 30 revealing stats for 2025 (Empower)