287 New Billionaires Minted in 2025 as Global Wealth Hits Record $15.8T

UBS Report: Global billionaire wealth hits a record $15.8 trillion; the U.S. leads the increase, with $5.9 trillion set to be inherited over the next 15 years.

Rising stock markets, a resurgence of merger activity, and significant inheritances contributed to the creation of 287 new billionaires this year, bringing the global total to over 2,900, according to the new UBS Billionaire Ambitions Report 2025.

Billionaire wealth reached a record $15.8 trillion as of the end of the third quarter, marking a 13% increase year-over-year. Of the world’s 2,919 billionaires, 2,059 are self-made, and 860 inherited their wealth. This year recorded the second-highest total of newly minted billionaires since the survey began, following only 2021.

New Wealth Diverse Beyond Tech Headlines

While AI and tech billionaires often dominate the news, the new class of 2025 billionaires made their fortunes across a diverse array of sectors, including software, genetics, restaurants, infrastructure, and natural gas. Notable new entrants include Ben Lamm of bioscience company Colossal and Michael Dorrell of infrastructure investment firm Stonepeak.

• U.S. Dominance: The U.S. led the global increase with 92 new self-made billionaires, representing $180 billion in wealth. Nearly a third of the world’s billionaires (924 people) reside in the U.S., where their total wealth soared by 18% over the past year to $17.5 trillion.

The Great Wealth Transfer and Shifting Values

The “great wealth transfer” is also minting new billionaires through inheritance. UBS found that 91 people inherited billionaire status in the past year, receiving nearly $300 billion in wealth. The report estimates that $5.9 trillion will be inherited by children and spouses from billionaires over the next 15 years, mostly in the U.S.

However, attitudes toward succession are shifting, especially among family-owned businesses. Today’s billionaires are increasingly hiring professional managers or selling their companies, opting to allow their children greater independence to pursue their own careers. The priority has shifted from inheriting a role to developing resilience, education, and adaptability in the next generation.

Investment Outlook: Bullish on Stocks, Diversifying Geographically

Billionaires remain broadly bullish on public equities, particularly in the U.S.

• Public Equities: Despite signs of an over-heated market and concentration in a few AI-driven tech stocks, 43% of billionaires plan to add to their public equities in the next 12 months. Only 5% plan to decrease their holdings.

• Private Equity: The outlook is mixed: half plan to add to direct investments, while a significant 28% plan to reduce their investments in private equity funds, likely due to poor returns and lack of exits.

• Geographic Diversification: Billionaires’ faith in the U.S. as a prime investment opportunity has declined, dropping from 80% to 64%. Conversely, optimism about Europe and China has risen sharply, with the share seeing opportunities rising to 40% for Europe and 34% for China.

Daniel Scansaroli of UBS noted that while billionaires still have a “strong bias towards American exceptionalism,” they are looking to “diversify to more value trades” due to high valuations and policy uncertainty.

Finally, more than a third of billionaires have relocated or are considering relocating globally, citing the pursuit of a “better quality of life” (including better healthcare and weather), geopolitical concerns, and tax organization.