The population of global millionaires increased by 7.9%. to 25.3 million in 2025. Their total wealth increased by 8.7%. to USD 98.3 trillion, which means the fastest growth in five years – according to the Capgemini World Wealth Report, cited by CNBC.
At the same time, the wealth gap between millionaires and the ultra-rich continues to widen. The growing wealth of millionaires – defined by Capgemini as people with investment assets worth USD 1 million. or more, excluding the primary home, collectibles and consumer goods – has been overtaken by the growth of the so-called people with ultra-high net worth (UHNW) – i.e. people with a fortune of $30 million. or more. According to the report, the population of such people increased last year by 9.4%, to 250,000, and their wealth increased by 9.7%.
People with UHNWI status currently constitute 1%. the entire population of millionaires, but according to the study they have 35 percent the entire fortune of millionaires.
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“Millionaires next door” vs. the ultra-rich
Capgemini's Gareth Wilson said one reason the ultra-rich are overtaking millionaires is their access to more profitable private investments.
“They have access to investments and opportunities that even the millionaires next door cannot afford,” Wilson said. “When you look at people who have investment assets on this scale, they probably have more influence in terms of access to some hedge funds, access to private markets, and they also probably have access to other types of pre-IPO investments that we mere mortals probably don't even know about.”
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What do millionaires invest in?
When it comes to investing, the world's millionaires are increasing their stock holdings. In 2025, equities accounted for an average of 25%. their portfolios, compared to 22 percent in 2024 – most likely due to rising share prices.
Their share in alternative instruments dropped from 15%. to 12 percent, and their cash resources also decreased – from 26 percent. up to 24 percent..
In turn, their holdings of fixed income instruments increased from 18%. to 20 percent, and their investments in real estate remained unchanged at 19 percent.
Where are the most millionaires?
Geographically, the United States continues to drive much of the global millionaire growth. According to the report, in 2025, 730,000 people arrived in the USA. new millionaires, which increased the total population of millionaires in the US to 8.73 million. Their wealth increased by almost $3 trillion, reaching $31.3 trillion.
Asia also saw strong growth, with the total millionaire population in Asia increasing by 9.4%. to 8.3 million in 2025
While China has been the main driver of wealth growth in Asia for years, Korea and Taiwan are now leading the way.
The Korean stock market surged 76% last year, with shares of semiconductor companies driving gains in Taiwanese markets.
In Europe, the millionaire population increased by 6.5 percent, in Latin America – by 0.3 percent. , and in the Middle East – by 1.4 percent.
Source: CNBC
