Scroungers, close to $100 trillion in financial wealth worldwide
By 2025, the financial wealth of individuals with assets over one million dollars will have reached USD 98,300 billion according to the Capgemini World Wealth Report 2026; in Italia it is estimated at USD 734.4 billion
The year 2025 was another becalmed year for the papermakers (individuals with financial wealth of USD 1 million and above): their assets in the world as a whole grew by 8.7%, reaching a record level of $98.3 trillion, the largest increase since 2018.
Strong stock markets and slowing inflation have boosted new wealth creation in 2025, causing the world population of millionaires to grow by almost 2 million people, bringing the total to 25.3 million individuals. This is revealed in the 30th edition of theWorld Wealth Report 2026 by the Capgemini Research Institute, which segments the market in high net worth individuals into three categories: Ultra-Hnwi (those with over $30 million), Mid-Tier Millionaires (those with financial wealth between $5 million and $30 million) and Millionaires Next Door (those with wealth between $1 million and $5 million).
Individuals and wealth bands
Among the various asset classes, the ultra-high-net-worth individuals (Uhnwi) recorded the highest share of gains, supported by greater exposure to a broad range of listed assets and some high-performing private asset classes. In 2025, the global population of ultra-high-net-worth individuals reached approximately 250,000 individuals, marking a 9.4% year-on-year increase and holding the record as the fastest-growing wealth segment for the second consecutive year. Their overall wealth grew 9.7% year-on-year, outpacing the pace of growth for the segment as a whole. Wealth concentration remains high: the richest 1% of Hnwis hold 34.8% of total wealth of Hnwis.
Equity market performance drives asset growth
In 2025, the equity markets, buoyed by the AI-related rally, were the main driver of wealth growth for the wealthy. The Asia-Pacific region recorded the highest regional growth, with wealth increasing by 10.5% and Hnwi population by 9.4%, thanks to the demand for semiconductors that supported Asian equity markets. Japan and China were among the top performers, adding 436,000 and 154,000 millionaires respectively. India and Australia also saw growth, with increases in the paperon population of 11,300 and 18,100 individuals respectively.
In North America, the Hnwi population grew by 9.1%, driven by the United States, which recorded 736,000 new millionaires, more than any other country in the world, bringing the total population to 8.7 million (+9.2%). In Canada, the Hnwi population increased by 6.7%, with 30,000 new millionaires.
