A new report from UBS reveals that nearly one million individuals worldwide became dollar millionaires in 2025, equivalent to more than 2,680 new millionaires each day. Europe accounted for a significant share of this growth outside the United States, with Eastern European nations posting the fastest percentage increases while Western European economies added the largest absolute numbers.
Eastern Europe Leads in Growth Rates
In percentage terms, the top five spots globally were all European countries, including EU member states, candidate countries, EFTA members, and the UK. Lithuania recorded the highest growth at 8%, adding 921 new dollar millionaires. Turkey followed at 6.4% with 5,650 new millionaires, while Latvia saw a 5.7% increase, adding 1,131. Hungary posted a 5.3% rise, gaining 1,349 new millionaires, and Ireland ranked fifth at 5.2% but added considerably more—9,491 new millionaires. Poland saw 4% growth, and Greece 3.5%.
The report notes that these growth rates partly reflect how close individuals were to the $1 million threshold in the previous year, but the trend underscores rising wealth in Central and Eastern Europe.
Absolute Numbers: UK, France, Spain Follow the US
In absolute terms, the US added 441,078 new dollar millionaires, nearly half of global growth. In Europe, the UK gained more than 43,000 new millionaires, while France and Spain each added over 32,000. Italy and Germany each added more than 24,000, placing them among the global top 10. Japan (31,428), India (31,033), Australia (25,089), and Russia (21,951) also featured in the top 10.
When converted to daily rates, the UK added an average of 118 new millionaires per day—roughly 4.5 per hour. France saw 95 per day, Spain 90, Italy 67, and Germany 66. At current exchange rates, $1 million is worth approximately €875,000.
The report states: “More people moving up the wealth ladder, stronger ranks at the top, and steady growth across a remarkably wide field of markets.” Notably, not a single one of the 56 markets surveyed ended 2025 with fewer millionaires than at the start.
Broader Context and Implications
Over 40% of the world's dollar millionaires live in the US—more than 23.6 million out of roughly 57.5 million in the UBS sample. Western Europe is home to just under 15 million, or 25% of the total. The report cautions that the number of millionaires in a given market does not always reflect its size, economic strength, or average wealth per person. Factors such as home ownership, private retirement savings, and tax incentives for saving and investing play a significant role.
For Europe, these figures highlight divergent wealth dynamics. While Eastern Europe is catching up rapidly, the continent's largest economies continue to generate substantial numbers of high-net-worth individuals. The trend also raises questions about wealth inequality and the effectiveness of redistributive policies across the EU.
As Europe grapples with economic challenges—from slower growth forecasts for France and Germany to the impact of extreme weather on productivity—the steady accumulation of millionaires suggests that wealth concentration persists even amid broader economic headwinds. Meanwhile, countries like five European economies are projected to outpace eurozone growth by 2031, potentially reshaping the continent's wealth map further.
