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Business Wire
7 min read
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U.S. adds 736,000 new millionaires — more than any other market — to reach 8.7 million
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Ultra-high-net-worth individual population expands 9.4%, the fastest-growing wealth segment for second consecutive year
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Most HNWIs (88%) work with multiple wealth management firms specifically to access better alternative investment opportunities
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Three-in-four advisors want AI to automate routine work so they can focus on client relationships
PARIS, June 04, 2026–(BUSINESS WIRE)–The 30th edition of the Capgemini Research Institute’s World Wealth Report 2026, published today, found an 8.7% increase in global high-net-worth individual1 (HNWI) wealth in 2025, reaching a record USD 98.3 trillion — the largest single-year increase since 2018. A robust equity market performance and easing inflation drove HNWI wealth creation in 2025, growing the global millionaire population by nearly 2 million to 25.3 million individuals.
Across wealth bands, ultra-high-net-worth individuals (UHNWI) captured the largest share of the gains, buoyed by exposure to a greater range of public and select high-performing private asset classes. In 2025, the UHNWI global population stood at roughly 250,000 — a 9.4% increase year-over-year — retaining its status as the fastest-growing wealth segment for the second consecutive year. Global UHNWI wealth grew 9.7% year-over-year, outpacing the broader HNWI segment. Wealth remains heavily concentrated — the top 1% of HNWIs account for 34.8% of HNWI wealth.
Global stock market performance drives strong growth in HNWI wealth
Equity markets, fueled by AI-related rallies, were the primary engine of HNWI wealth growth across five of six major regions in 2025:
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Asia-Pacific posted the highest regional growth in wealth of 10.5% and population growth of 9.4%, as semiconductor demand boosted Asian stock markets. Japan and China were among the strongest performers, adding 436,000 and 154,000 millionaires, respectively. India and Australia also saw growth, with HNWI populations increasing by 11,300 and 18,100, respectively.
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North America’s HNWI population increased 9.1%, led by the United States, which added 736,000 new millionaires — more than any other country worldwide — as its HNWI population grew by 9.2% to 8.7 million. Canada’s HNWI population recorded a jump of 6.7% with 30,000 new millionaires.
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Europe’s HNWI population grew 6.5% in 2025 after a decline in 2024, as the region benefited from stabilizing equity markets and easing inflation. Luxembourg emerged as one of the highest-growth markets with a 13.5% HNWI population increase. Germany registered an 11.1% growth in population, while France and the United Kingdom saw gains of 2.7% and 2.6%, respectively.
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Africa and Latin America both experienced HNWI population growth, at 4.1% and 0.3% respectively. In Africa, momentum was driven by higher precious metal prices, with Morocco registering the fastest-growth at 16.8%. In Latin America, trade uncertainty continued to constrain expansion despite a modest investment recovery. Mexico outperformed, with HNWI wealth rising 5.4%, and HNWI population rising 1.8%.
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The Middle East’s HNWI population contracted 1.4%, as lower oil prices and regional conflict, alongside labor market strain, weakened activity across several Gulf state economies.
