The number of billionaires worldwide has surged 13% to a record 3,302 individuals, as the super-rich accumulate wealth at an accelerating pace, according to new data from Swiss bank UBS. Billionaires' wealth grew by an average of 25% in the year ending April, compared with a 10.8% rise in average personal wealth globally.
Rise of Ultra-High Net Worth Individuals
UBS reported that 18 people had amassed wealth between $50 billion and $100 billion, while 19 individuals were worth more than $100 billion. Of these, 15 were based in the United States. James Mazeau, an economist at UBS, attributed the growth to the AI boom in stock markets. "Most [billionaire] wealth is tied to listed companies," he said. "So part of the rise is due to equity markets. The AI boom story is fuelling equity markets. In countries where there is a lot of participation and equity market, this is leading to an increase in wealth."
Millionaire Population Expands
The millionaire class also expanded rapidly, with the global millionaire population reaching over 57.5 million last year. This growth was fueled by rising stock markets and a relatively weak US dollar. The US accounted for nearly half of the growth, with more than 440,000 people becoming millionaires for the first time in 2025. In the UK alone, over 43,000 people joined the millionaire ranks.
Wealth Inequality Widens
The gap between the world's richest and poorest continues to grow. The World Inequality Report found that fewer than 60,000 people—0.001% of the global population—control three times as much wealth as the bottom half of humanity. Calls have intensified for political leaders to increase taxes on the super-rich, amid concerns that wealth is translating into political power.
Prominent Billionaires
Elon Musk, CEO of Tesla and SpaceX, remains the world's richest person with a net worth of $1 trillion, according to Forbes. Google co-founders Larry Page and Sergey Brin rank second and third, with net worths of $289 billion and $266.6 billion, respectively. In the UK, the Hinduja family tops the Sunday Times rich list with a net worth of £35 billion, though Gopichand Hinduja died aged 85 last year.
UK Billionaire Numbers Fall
The UK saw 156 billionaires in 2025, down from 165 the previous year—the biggest fall in the Sunday Times rich list's 37-year history. Reports of super-rich individuals leaving Britain have increased, with wealth advisers citing the abolition of the non-dom tax regime. However, Paul Donovan, chief economist at UBS, cautioned against overstating the trend. "It is a relatively low number overall, and some of them subsequently went back," he said. "But what you're not seeing is them shutting their businesses and moving their businesses. The economic activity that is generated by the wealth holders tends not to follow them into tax exile. This idea that the wealthy have suitcases packed by the door ready to go at the first sign of tax increase, this is just not happening."
