UBS: 2025 Stock Market Gains Mint Nearly 1 Million New Millionaires

Global personal wealth climbed 10.8 % in 2025, the largest annual increase since 2017, UBS’s latest Global Wealth Report revealed on Thursday. The rise, driven by record‑high equity valuations and a rebound in housing markets, lifted the average net worth of high‑net‑worth households worldwide to a new peak. UBS noted that the growth was uneven across regions, with North America and Europe posting the strongest gains, while emerging markets lagged behind.

The report attributes the surge to a combination of sustained corporate earnings, low interest rates, and a gradual recovery from the pandemic‑induced slowdown. Asset‑class performance varied, but equities and real estate continued to outperform bonds and cash, contributing most of the wealth creation. UBS also highlighted that the growth in personal wealth is likely to support continued consumer spending and investment in the coming years, although it remains sensitive to potential macroeconomic headwinds such as rising inflation or tightening monetary policy.