Soaring stocks created 2 million new millionaires around the world last year

Livestream Menu The population of global millionaires surged 7.9% to 25.3 million in 2025, according to the Capgemini World Wealth Report. A wealth gap between millionaires and the ultra wealthy continues to widen. Gareth Wilson, global banking industry lead at Capgemini, said one reason the ultra wealthy are outpacing millionaires is their access to higher-returning private investments. Aerial view of yachts moored in the Port Vell marina of Barcelona, Spain Busà Photography | Moment | A version of this article first appeared in CNBC's Inside Wealth with Robert Frank, a weekly guide to the high-net-worth investor and consumer.  to receive future editions, straight to your inbox. Soaring stock markets created nearly 2 million new millionaires around the world last year, with the ultra rich seeing the strongest growth, according to a new study. The population of global millionaires surged 7.9% to 25.3 million in 2025, according to the Capgemini World Wealth Report. Their total wealth increased by 8.7% to $98.3 trillion, marking the fastest growth in five years. At the same time, a wealth gap between millionaires and the ultra wealthy continues to widen. The increasing wealth of millionaires — defined $1 million or more in investible assets, excluding primary home, collectibles and consumer goods — was outpaced -called "ultra-high-net-worth individuals (UHNWI)," or those with $30 million or more. The population of UHNWIs grew 9.4% in 2025, to 250,000, and their fortunes rose 9.7%, according to the report. UHNWIs now represent 1% of the overall millionaire population, but they hold 35% of all millionaire wealth, according to the study. S. continues to power much of the global millionaire growth. S. added 730,000 new millionaires in 2025, bringing the total U. S. millionaire population to 8.73 million, according to the report. Their fortunes surged by nearly $3 trillion to $31.3 trillion. Asia also posted strong growth, with its millionaire wealth up 10.5% and millionaire population up 9.4%. While China had been the main growth engine for Asian wealth for years, Korea and Taiwan are now leading Asian wealth creation, as the Korean stock market surged 76% last year and semiconductor stocks powered Taiwanese markets higher. Asia's total millionaire population reached 8.3 million in 2025, according to the report. Europe's millionaire population grew 6.5%, while Latin America's rose 0.3% and the Middle East saw a decline of 1.4%. When it comes to their investments, the world's millionaires are increasing their holdings of stocks. They held an average of 25% of their portfolios in stocks in 2025, up from 22% in 2024 — most likely due to rising share prices. Their share of alternatives declined to 12% from 15% and their cash holdings also fell to 24% from 26%.