Millionaire Statistics 2026
By Axis Intelligence Research
Co-author: Sarah Davis | Last updated: October 2, 2026 | License: CC BY 4.0
The world had roughly 57.5 million US dollar millionaires at the end of 2025, according to the UBS Global Wealth Report 2026, up 1.5% in a year, or more than 2,680 new millionaires a day. The United States alone holds 23,627,000 of them. Axis Intelligence Research calculates that the typical American adult sits 14.49 times below the $1 million line.
Quick Answer
There are about 57.5 million millionaires worldwide (UBS, net worth basis, year-end 2025) and 25.3 million by the stricter investable-assets definition (Capgemini). The US has 23.6 million, 41.1% of the global total. According to Axis Intelligence Research, only 36.8% of US net-worth millionaires also clear the investable-assets bar.
Key Findings
- According to UBS, the world counted roughly 57.5 million US dollar millionaires at year-end 2025, after 1.5% growth that added more than 2,680 millionaires per day.
- According to Axis Intelligence Research, the Millionaire Distance Multiple (MDM) ranges from 2.54 in Luxembourg to 18.70 in Germany, with the United States at 14.49 (UBS median wealth, year-end 2025).
- According to Axis Intelligence Research, Capgemini’s 8.7 million investable-asset millionaires equal just 36.8% of the 23,627,000 US net-worth millionaires UBS counts, a definitional gap of about 14.9 million people.
- According to Axis Intelligence Research, the United States produced 52.0% of the 847,986 new millionaires across the 31 markets UBS itemizes for 2025, roughly 1,208 per day.
- According to Axis Intelligence Research, only 12.2% of the world’s millionaires hold between $5 million and $100 million, meaning the overwhelming majority are everyday millionaires below $5 million (UBS, year-end 2025).
How Many Millionaires Are There in the World in 2026?
The answer depends on which ruler you use, and the two rulers disagree by more than 30 million people.
UBS counts US dollar millionaires by net worth: financial assets plus real assets (principally housing) minus debt. On that basis, the UBS Global Wealth Report 2026 puts the world at roughly 57.5 million millionaires across 56 markets that UBS estimates hold over 92% of global wealth. Those millionaires represent 1.5% of adults in the sample yet hold $250.59 trillion, or 48.4% of all personal wealth measured.
Capgemini counts high-net-worth individuals by investable assets, excluding the primary residence, collectibles and consumer durables. Its World Wealth Report 2026 found 25.3 million such millionaires holding $98.3 trillion at year-end 2025, with HNWI wealth up 8.7%.
Neither figure is wrong. They answer different questions. UBS answers “who is worth a million on paper.” Capgemini answers “who has a million they could actually invest.”
Global Millionaire Counts by Definition, Year-End 2025
| Measure | Definition | Count | Wealth held | Source |
|---|---|---|---|---|
| USD millionaires | Net worth ≥ $1M, housing included | ~57,500,000 | $250.59T | UBS |
| HNWIs | Investable assets ≥ $1M, excl. primary residence | 25,300,000 | $98.3T | Capgemini |
| Adults with $5M to $100M | Net worth band | 7,004,000 | NA | UBS |
| UHNWIs | Investable assets ≥ $30M | ~250,000 | NA | Capgemini |
| USD billionaires | Net worth ≥ $1B (Apr. 2026) | 3,302 | NA | UBS |
Sarah Davis: The headline number most outlets print is the UBS one, because it is bigger and it is round. But the gap between 57.5 million and 25.3 million is the most useful number on this page. It tells you how much of global millionaire status is a house price, not a portfolio. A millionaire whose million is mostly a mortgaged home cannot pay a wealth manager’s fee out of it, and the private banks know that better than anyone. That is exactly why the banks that sell advice count the smaller number.
The Axis Investable Millionaire Ratio (IMR): How Many Millionaires Are Paper Millionaires?
Axis Intelligence Research built the Investable Millionaire Ratio (IMR) to put a number on that gap. The formula is deliberately simple:
IMR = investable-asset millionaires (Capgemini) ÷ net-worth millionaires (UBS) × 100
- United States: 8,700,000 ÷ 23,627,000 = 36.8%
- World: 25,300,000 ÷ 57,500,000 = 44.0%
According to Axis Intelligence Research, roughly 63 in 100 US net-worth millionaires would not qualify as millionaires under the investable-assets test. The IMR is a definitional ratio between two independently modeled populations, not a merged headcount, so Axis publishes both inputs beside it rather than averaging them.
UBS data explains part of the mechanism. In the United States, 47% of net wealth is liquid and 78.9% of gross personal wealth is financial assets, among the highest shares in the sample. In Germany the financial share is 43.6%. UBS states directly that owner-occupied property is the single biggest asset for most people up to everyday millionaire level, and that rising property values push people into millionaire status with no change in disposable income.
Where Two Major Wealth Reports Disagree: Japan
The definitional gap is not uniform across countries, and Japan shows how far it can stretch. Capgemini reports Japan added 436,000 HNWIs in 2025. UBS reports Japan added 31,428 USD millionaires. According to Axis Intelligence Research, the Capgemini figure is 13.9 times the UBS figure.
| Market | New millionaires 2025 (UBS, net worth) | New HNWIs 2025 (Capgemini, investable) | Source |
|---|---|---|---|
| United States | 441,078 | 736,000 | UBS; Capgemini |
| Japan | 31,428 | 436,000 | UBS; Capgemini |
| Mainland China | 14,079 | 154,000 | UBS; Capgemini |
Axis does not reconcile these. Different populations, different asset definitions and different modeling choices produce different flows, and UBS itself notes it revised its millionaire methodology this edition, so its figures are not comparable with previous reports. Anyone citing a single “new millionaires” number for Japan without naming the definition is quoting half a sentence.
Which Countries Have the Most Millionaires?
The United States holds 23,627,000 USD millionaires, per UBS. According to Axis Intelligence Research, that is 41.1% of the world total, and the US and mainland China together account for 50.3%.
Number of Millionaires by Country, Year-End 2025
| Rank | Country | USD millionaires | Source |
|---|---|---|---|
| 1 | United States | 23,627,000 | UBS |
| 2 | Mainland China | 5,305,000 | UBS |
| 3 | Japan | 2,902,000 | UBS |
| 4 | Germany | 2,648,000 | UBS |
| 5 | United Kingdom | 2,428,000 | UBS |
| 6 | France | 2,388,000 | UBS |
| 7 | Australia | 1,634,000 | UBS |
| 8 | South Korea | 1,317,000 | UBS |
| 9 | Netherlands | 1,294,000 | UBS |
| 10 | Italy | 1,235,000 | UBS |
| 11 | Spain | 1,077,000 | UBS |
| 12 | Switzerland | 944,000 | UBS |
| 12 | India | 944,000 | UBS |
| 14 | Taiwan | 772,000 | UBS |
| 15 | Hong Kong SAR | 628,000 | UBS |
| 16 | Belgium | 556,000 | UBS |
| 17 | Sweden | 507,000 | UBS |
| 18 | Russia | 447,000 | UBS |
| 19 | Brazil | 386,000 | UBS |
| 20 | Saudi Arabia | 348,000 | UBS |
The full 34-market table, including Mexico (333,000), Singapore (244,000), the UAE (183,000) and Luxembourg (85,000), is in the downloadable dataset. Canada does not appear in the UBS millionaire table Axis retrieved, so this page publishes no Canadian count rather than borrow an unverified one.
The single most quotable line in the UBS table: Switzerland and India each host about 944,000 millionaires. One is a small Alpine economy; the other is the world’s most populous country.
Millionaires by Region
| Region | Share of world USD millionaires | Source |
|---|---|---|
| North America | 44.8% | UBS |
| Western Europe | 25.5% | UBS |
| Greater China | 11.7% | UBS |
| Southeast Asia | 9.9% | UBS |
| Oceania | 3.3% | UBS |
| Eastern Europe | 1.8% | UBS |
| Latin America | 1.5% | UBS |
| Middle East and Africa | 1.5% | UBS |
Sarah Davis: Concentration is the story here, not scale. Africa, Latin America and the Middle East combined hold a smaller share of the world’s millionaires than Oceania alone. For anyone pricing a wealth platform, a private bank expansion, or a luxury rollout, that table is the addressable market before a single assumption gets layered on.
How Many New Millionaires Were Created in 2025?
UBS estimates nearly one million new USD millionaires in 2025, more than 2,680 per day, and for the first time every one of its 56 markets ended the year with more millionaires than it started with.
The United States added 441,078. According to Axis Intelligence Research, that equals roughly 1,208 new American millionaires per day, and 52.0% of the 847,986 new millionaires across the 31 markets UBS itemizes. Axis declined to compute a precise US share of the global flow, because UBS reports the global figure only as “nearly one million”; dividing by a rounded denominator would manufacture precision the source does not have.
New Millionaires by Country, 2025
| Market | New USD millionaires | Growth | Source |
|---|---|---|---|
| United States | 441,078 | 1.9% | UBS |
| United Kingdom | 43,139 | 1.8% | UBS |
| France | 34,604 | 1.5% | UBS |
| Spain | 32,707 | 3.1% | UBS |
| Japan | 31,428 | 1.1% | UBS |
| India | 31,033 | 3.4% | UBS |
| Italy | 28,596 | 2.4% | UBS |
| Australia | 25,089 | 1.6% | UBS |
| Germany | 24,263 | 0.9% | UBS |
| Russia | 21,951 | 5.2% | UBS |
| South Korea | 20,227 | 1.6% | UBS |
| Mainland China | 14,079 | 0.3% | UBS |
Fastest-Growing Millionaire Populations
By percentage, Eastern Europe led: Lithuania +8.0%, Turkiye +6.4%, Latvia +5.7%, Hungary +5.3%, followed by Ireland and Russia at +5.2% each. At the other end, Hong Kong SAR and mainland China each grew just 0.3%.
Sarah Davis: The UK figure deserves a second read. Plenty of commentary in 2025 framed Britain as a country losing its wealthy. On the UBS count it still minted 43,139 net new millionaires, the second-largest absolute gain on the board. Movement of a few thousand very rich people and organic growth of tens of thousands of ordinary millionaires are two different flows, and they are routinely conflated.
The Axis Millionaire Distance Multiple (MDM): How Far Is $1 Million in Your Country?
Millionaire counts tell you how many people crossed the line. They say nothing about how far the typical person stands from it. Axis Intelligence Research built the Millionaire Distance Multiple (MDM) to answer exactly that.
MDM = $1,000,000 ÷ median wealth per adult (UBS, USD, year-end 2025)
An MDM of 5 means the median adult would need five times their current net worth to become a millionaire. Lower is closer. The metric uses median rather than average wealth because average wealth is pulled upward by the people already at the top.
Millionaire Distance Multiple by Country, 2026
| Rank | Country | Median wealth per adult | MDM | Source |
|---|---|---|---|---|
| 1 | Luxembourg | $394,005 | 2.54 | Axis calc. from UBS |
| 2 | Belgium | $277,166 | 3.61 | Axis calc. from UBS |
| 3 | Australia | $210,783 | 4.74 | Axis calc. from UBS |
| 4 | New Zealand | $206,617 | 4.84 | Axis calc. from UBS |
| 5 | Denmark | $203,771 | 4.91 | Axis calc. from UBS |
| 6 | Hong Kong SAR | $187,968 | 5.32 | Axis calc. from UBS |
| 7 | Canada | $147,811 | 6.77 | Axis calc. from UBS |
| 8 | Switzerland | $145,555 | 6.87 | Axis calc. from UBS |
| 9 | Norway | $140,003 | 7.14 | Axis calc. from UBS |
| 10 | Japan | $135,745 | 7.37 | Axis calc. from UBS |
| 11 | Italy | $131,001 | 7.63 | Axis calc. from UBS |
| 12 | Netherlands | $127,407 | 7.85 | Axis calc. from UBS |
| 13 | United Kingdom | $125,335 | 7.98 | Axis calc. from UBS |
| 14 | France | $121,898 | 8.20 | Axis calc. from UBS |
| 16 | Taiwan | $113,137 | 8.84 | Axis calc. from UBS |
| 17 | Spain | $111,575 | 8.96 | Axis calc. from UBS |
| 18 | South Korea | $101,739 | 9.83 | Axis calc. from UBS |
| 20 | Singapore | $96,434 | 10.37 | Axis calc. from UBS |
| 23 | Sweden | $84,039 | 11.90 | Axis calc. from UBS |
| 24 | Israel | $83,843 | 11.93 | Axis calc. from UBS |
| 27 | Austria | $71,378 | 14.01 | Axis calc. from UBS |
| 28 | United States | $68,998 | 14.49 | Axis calc. from UBS |
| 29 | Greece | $59,162 | 16.90 | Axis calc. from UBS |
| 30 | Germany | $53,485 | 18.70 | Axis calc. from UBS |
All 30 markets with a published UBS median, including Malta, Ireland, Qatar, Finland, Slovenia and Portugal, are in the dataset.
What the MDM Reveals That Millionaire Counts Hide
The United States has the most millionaires on Earth and one of the longest distances to the millionaire line. According to Axis Intelligence Research, the median American adult sits at an MDM of 14.49, further from $1 million than the median adult in Japan (7.37), the United Kingdom (7.98) or Spain (8.96).
Germany is the sharper paradox. It ranks fourth in the world by millionaire count with 2,648,000, yet records the highest MDM in the UBS top-30 median table at 18.70. Germany’s low homeownership and its 43.6% financial-asset share help explain why its median sits so low while its top end is deep.
The mean-to-median ratio tells the same story from another angle. According to Axis Intelligence Research, US average wealth per adult ($696,277) is 10.09 times the US median ($68,998). In Switzerland the ratio is 6.25, in Germany 6.48, and in Luxembourg just 1.66.
Sarah Davis: This is the number I would put in front of anyone who says “everyone in America is a millionaire now.” The country has more millionaires than the next eight combined, and a median adult who would need to multiply their net worth by more than fourteen to join them. Both facts are true at the same time, and the average figure UBS also publishes, close to $700,000 per adult, is what makes the first one look like the whole picture. Follow the median, not the mean.
What Share of Millionaires Are Everyday Millionaires?
UBS calls people with $1 million to $5 million “everyday millionaires” (EMILLIs) and states that more than 50 million of the world’s millionaires fall in that band. The 7,004,000 adults holding between $5 million and $100 million are the thin layer above them.
Axis Intelligence Research computed the upper-tier share for each market: adults with $5 million to $100 million divided by that market’s USD millionaires. Because adults above $100 million are excluded from the numerator, the everyday share for each country is at most 100 minus the figure shown.
| Market | Adults $5M to $100M | Upper-tier share of millionaires | Source |
|---|---|---|---|
| United States | 4,122,000 | 17.4% | Axis calc. from UBS |
| Switzerland | 114,000 | 12.1% | Axis calc. from UBS |
| World | 7,004,000 | 12.2% | Axis calc. from UBS |
| United Arab Emirates | 21,000 | 11.5% | Axis calc. from UBS |
| Singapore | 27,000 | 11.1% | Axis calc. from UBS |
| Brazil | 43,000 | 11.1% | Axis calc. from UBS |
| Hong Kong SAR | 69,000 | 11.0% | Axis calc. from UBS |
| Mainland China | 516,000 | 9.7% | Axis calc. from UBS |
| Germany | 244,000 | 9.2% | Axis calc. from UBS |
| Mexico | 29,000 | 8.7% | Axis calc. from UBS |
| Italy | 95,000 | 7.7% | Axis calc. from UBS |
| Spain | 83,000 | 7.7% | Axis calc. from UBS |
| France | 182,000 | 7.6% | Axis calc. from UBS |
| Australia | 121,000 | 7.4% | Axis calc. from UBS |
| United Kingdom | 172,000 | 7.1% | Axis calc. from UBS |
| Japan | 164,000 | 5.7% | Axis calc. from UBS |
According to Axis Intelligence Research, a US millionaire is roughly three times as likely as a Japanese millionaire to sit above $5 million (17.4% against 5.7%). UBS attributes Japan’s stagnation in these bands largely to the protracted yen depreciation against the dollar, the reference currency.
Long-run returns diverge too. UBS reports that wealth above $5 million grew at a real 6.1% a year since 2000, against 4.0% for everyday millionaires.
How Many 401(k) Millionaires Are There?
Retirement accounts are where many American everyday millionaires actually keep their liquid wealth, and the count hit a record in mid-2026.
Fidelity reported 769,000 401(k) accounts holding $1 million or more at June 30, 2026, a figure reported by CBS News from Fidelity’s quarterly data. Across the 25.8 million participants in Fidelity’s 401(k) dataset, Axis Intelligence Research calculates that 2.98% have reached seven figures. The average balance was $155,800 and the total savings rate held at a record 14.4%, according to Fidelity’s Q2 2026 Retirement Analysis.
| Metric | Value | As of | Source |
|---|---|---|---|
| 401(k) accounts ≥ $1M | 769,000 | June 30, 2026 | Fidelity, as reported by CBS News |
| Participants in dataset | 25,800,000 | June 30, 2026 | Fidelity |
| Share at ≥ $1M | 2.98% | June 30, 2026 | Axis calc. |
| Average 401(k) balance | $155,800 | June 30, 2026 | Fidelity |
| Total savings rate | 14.4% | June 30, 2026 | Fidelity |
For context on how retirement balances concentrate at the largest provider, see the 401(k) data on our Vanguard statistics page.
What Percentage of Americans Are Millionaires?
On UBS’s figures, the US has 23,627,000 USD millionaires, and UBS states that close to 9% of American adults hold $1 million or more, placing the United States fourth in millionaire density behind Luxembourg (closer to one in six adults), Switzerland and Hong Kong SAR (roughly one in ten).
Concentration at the very top is tracked separately by the Federal Reserve. The top 1% of US households held 32.5% of national net worth in the second quarter of 2026, up from 31.7% one quarter earlier, according to the Distributional Financial Accounts published by the Federal Reserve Board (series WFRBST01134). Household counts and net worth thresholds by percentile live on our US high-net-worth statistics page, which owns those figures.
Is $1 Million Still Considered Wealthy?
Not in the minds of most Americans. Respondents to Charles Schwab’s Modern Wealth Survey 2025 put the net worth needed to be “wealthy” at $2.3 million on average and “financially comfortable” at $839,000. [Older data: fielded April to May 2025; no 2026 edition was located at retrieval.]
Sarah Davis: The survey answer and the UBS data line up more than people expect. If most millionaires are everyday millionaires whose wealth is largely home equity, then $1 million feels like comfort, not wealth. The $2.3 million figure is roughly the point where the money starts to be investable.
How Is the Global Wealth Pyramid Changing?
| Wealth band | Adults | Share of adults | Source |
|---|---|---|---|
| Above $1M | ~58 million | 1.5% | UBS |
| $100K to $1M | 588 million | 15.3% | UBS |
| Below $10K | NA | 41.1% | UBS |
The bottom band is shrinking fast. UBS reports that the share of adults below $10,000 fell from almost 75% in 2000 to just over 41% in 2025, and expects the two lowest bands to switch places before the end of the decade if trends hold. Global personal wealth rose 10.8% in USD terms in 2025, the fastest pace since 2017, according to the UBS media release.
For the segment above $30 million, see our ultra high net worth statistics. For the industry that serves these households, see US wealth management statistics and robo-advisor statistics.
Frequently Asked Questions
Why do UBS and Capgemini report different millionaire numbers?
UBS counts everyone with net worth of $1 million or more, including home equity, and found about 57.5 million. Capgemini counts only investable assets and excludes the primary residence, finding 25.3 million. According to Axis Intelligence Research, the investable count equals 44.0% of the net-worth count globally.
Does owning a home worth $1 million make you a millionaire?
Under the UBS net-worth definition, yes, if your debts are lower than your assets by at least $1 million. Under Capgemini’s investable-assets definition, no, because the primary residence is excluded. UBS states that owner-occupied property is the biggest single asset for most people up to the everyday millionaire level.
Which country is it easiest to become a millionaire in, relative to typical wealth?
Luxembourg. According to Axis Intelligence Research, Luxembourg’s Millionaire Distance Multiple is 2.54, meaning the median adult needs about 2.5 times their net worth to reach $1 million. Belgium (3.61) and Australia (4.74) follow. Germany is furthest at 18.70.
How many people become millionaires every day?
UBS estimates more than 2,680 people worldwide became USD millionaires each day in 2025. In the United States, 441,078 new millionaires over the year works out to about 1,208 per day, according to Axis Intelligence Research.
Why does the US have so many millionaires but a low median wealth?
American wealth is heavily concentrated and heavily invested in financial markets. US average wealth per adult is $696,277 while the median is $68,998, a ratio of 10.09 according to Axis Intelligence Research, so strong stock markets mint millionaires at the top without lifting the middle at the same rate.
Is a currency move enough to create or erase millionaires?
Yes. UBS measures wealth in US dollars, and the euro rose almost 9% against the dollar in 2025, which flattered European wealth. UBS attributes Japan’s stagnation in the $5 million-plus bands largely to yen depreciation. Millionaire counts are partly an exchange-rate statistic.
How many 401(k) millionaires are there in 2026?
Fidelity recorded 769,000 401(k) accounts with $1 million or more at June 30, 2026, as reported by CBS News. That equals 2.98% of Fidelity’s 25.8 million 401(k) participants, according to Axis Intelligence Research.
How many millionaires hold more than $5 million?
UBS counts 7,004,000 adults with $5 million to $100 million, of whom 4,122,000 live in the United States. According to Axis Intelligence Research, that band is 12.2% of the world’s millionaires and 17.4% of America’s.
Methodology
Collection. Axis Intelligence Research retrieved every figure on October 1, 2026 from primary publications: the UBS Global Wealth Report 2026 (full report and June 30, 2026 media release), the Capgemini World Wealth Report 2026 press release (June 4, 2026), Fidelity’s Q2 2026 Retirement Analysis and press release (September 3, 2026), the Federal Reserve’s Distributional Financial Accounts via FRED, and Charles Schwab’s Modern Wealth Survey 2025. The 769,000 401(k) millionaire count is Fidelity data reported by CBS News; it did not appear on Fidelity’s public analysis page at retrieval and is flagged as non-primary in the dataset.
Formulas.
- Millionaire Distance Multiple (MDM) = 1,000,000 ÷ UBS median wealth per adult (USD, year-end 2025).
- Investable Millionaire Ratio (IMR) = Capgemini HNWI count ÷ UBS USD millionaire count × 100.
- Upper-tier share = UBS adults with $5M to $100M ÷ UBS USD millionaires × 100.
- Mean-to-median ratio = UBS average wealth per adult ÷ UBS median wealth per adult.
- US share of itemized new millionaires = 441,078 ÷ 847,986 (sum of the 31 markets in the UBS growth table).
Scope. UBS figures cover 56 markets estimated at over 92% of world wealth; Capgemini’s population is global and modeled independently, so the IMR is a definitional comparison, not a reconciled count. UBS revised its millionaire methodology this edition and warns its figures are not comparable with prior reports, so this page presents no historical UBS series. The MDM covers the 30 markets for which UBS publishes median wealth. Two calculations were declined and logged as retracted rows in the dataset: a precise US share of the global new-millionaire flow (rounded denominator) and a Canadian millionaire count (absent from the UBS table retrieved).
About This Dataset
millionaire-statistics-2026.csv holds 264 observations covering USD millionaire counts for 34 markets, 2025 new-millionaire flows and growth rates for 31 markets, regional distribution, wealth bands, median and average wealth per adult, the $5M to $100M population for 15 markets, Capgemini HNWI figures, Fidelity 401(k) data, Federal Reserve top-1% share, Schwab survey thresholds, and the Axis Intelligence Research metrics MDM, IMR and upper-tier share. Every row carries its source organization, document, URL, retrieval date, primary-source flag and, for Axis calculations, the formula.
License: CC BY 4.0. Free to use, share and adapt with attribution.
Cite as: Axis Intelligence Research, Millionaire Statistics 2026, 2026.
Cite This Page
APA: Axis Intelligence Research, & Davis, S. (2026, October 2). Millionaire statistics 2026: How many millionaires exist, where they live, and how far $1 million really is. Axis Intelligence. https://axis-intelligence.com/millionaire-statistics/
MLA: Axis Intelligence Research, and Sarah Davis. “Millionaire Statistics 2026: How Many Millionaires Exist, Where They Live, and How Far $1 Million Really Is.” Axis Intelligence, 2 Oct. 2026, axis-intelligence.com/millionaire-statistics/.
Chicago: Axis Intelligence Research, and Sarah Davis. “Millionaire Statistics 2026: How Many Millionaires Exist, Where They Live, and How Far $1 Million Really Is.” Axis Intelligence, October 2, 2026. https://axis-intelligence.com/millionaire-statistics/.