Personal wealth in 2025 grew at its fastest pace in years, creating nearly one million new U.S. dollar ‌millionaires worldwide, Swiss bank UBS (UBSG.S), opens new tab said in its annual Global Wealth Report published on Tuesday.

Here aresome details:

Get U.S. personal finance tips and insight straight to your inbox with the Reuters On the Money newsletter. Sign up here.

Total personal wealth globally rose by 10.8% last year, up from 4.6% ⁠in 2024 and 4.2% in 2023, as strong financial markets boosted growth, UBS found.

Therewere “more millionaires than ever, everywhere” in 2025, the bank said. The United States, where over 440,000 people became new U.S. dollar millionaires, accounted for almost half of this growth.

Wealth in U.S. dollar terms ‌grew ⁠disproportionately quickly in Europe, largely due to last year’s depreciation of the dollar compared to the euro, UBS found.

While average wealth rose, inequality has deepened ⁠since 2020, UBS said. Median wealth, which better reflects the middle of the scale, declined in mostcountries, ⁠highlighting a growing divide between the wealthiest and the broader population, the bank added.

For ⁠thereport, UBS analysed 56 markets it estimates to represent over 92% of the world’s wealth. (Reuters, excluding headline)

Update news