SEOUL, July 01 (AJP) - South Korea has joined the world's millionaire elite, breaking into the global top 10 by millionaire population thanks to a bull run unprecedented by global standards.
The country's millionaire population reached 1.3 million in 2025, placing it joint eighth globally with the Netherlands, according to UBS's Global Wealth Report 2026 released Tuesday.
Australia ranked seventh with 1.6 million millionaires, while the United States remained the world's largest home to millionaires with 23.6 million, followed by mainland China with 5.3 million, Japan with 2.9 million, Germany with 2.6 million, and the United Kingdom and France with 2.4 million each.
UBS said the number of millionaires globally rose in 2025, reaching record levels in every market it tracks.
The United States accounted for nearly half of all newly created millionaires worldwide, adding more than 440,000 people during the year, or more than 1,200 new millionaires a day.
UBS attributed much of the increase in U.S. wealth to strong financial markets. Financial assets, including stocks and bonds, accounted for 79 percent of gross wealth in the U.S., putting the country near the top of the rankings for that metric.
The report also found that wealth gains were unevenly distributed. While average wealth per U.S. adult rose by nearly 10 percent after inflation between 2020 and 2025, median wealth declined by almost 20 percent, suggesting that gains were concentrated among the wealthiest households.
Globally, individuals with $50 million to $100 million in net assets were the fastest-growing wealth group over the past five years, with their numbers increasing 7.3 percent annually.
Although the United States recorded the largest increase in the absolute number of millionaires, Lithuania posted the fastest growth rate, with its millionaire population rising 8 percent in 2025.
Copyright ⓒ Aju Press All rights reserved.