• Nearly 2,900 billionaires now control $15.8 trillion in combined wealth worldwide
• Second-highest number of new billionaires minted since tracking began in 2015
• Inherited wealth reached record levels as great wealth transfer intensifies

ZURICH, SWITZERLAND (TDR) — The ranks of the world’s ultra-wealthy have swelled to unprecedented levels in 2025, with soaring tech valuations and rising stock markets propelling both the number and fortunes of global billionaires to record heights, according to a comprehensive new study from Swiss banking giant UBS.

Global Billionaires Population Climbs Near 3,000

The UBS Billionaire Ambitions Report, released Thursday, reveals that approximately 2,900 individuals now control a staggering $15.8 trillion in combined wealth. This represents a sharp increase from roughly 2,700 billionaires holding nearly $14 trillion just one year earlier.

The growth was fueled in part by 287 newcomers joining the billionaire ranks, marking the second-highest annual increase since UBS began tracking this figure in 2015. Only 2021, when government stimulus measures and historically low interest rates inflated asset prices globally, saw more new billionaires created.

“You’ve seen this acceleration of billionaire growth, and it’s actually coming from all areas.”

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John Mathews, head of private-wealth management at UBS in the United States, emphasized that new fortunes are emerging from both entrepreneurial ventures and inheritance.

Technology Sector Drives Global Billionaires Surge

Technology investments proved particularly lucrative for the ultra-wealthy this year. Billionaires invested in the technology sector saw their wealth increase by 23.8 percent, significantly outpacing other industries.

Elon Musk remains the world’s wealthiest individual, with an estimated net worth approaching $500 billion according to Forbes. His fortune, built primarily on stakes in Tesla and SpaceX, continues to dwarf competitors. The second spot belongs to Oracle founder Larry Ellison, followed by Meta CEO Mark Zuckerberg.

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Strong stock market performance through early April 2025 significantly boosted fortunes across the board. While brief turbulence followed tariff announcements, markets quickly resumed their upward trajectory, further enriching those with substantial equity holdings.

Inherited Wealth Reaches Historic Heights Among Global Billionaires

The report highlights what UBS calls the largest multi-generational inheritance wave in the history of their research. In the twelve months through April, 91 individuals became billionaires through inheritance alone, collectively receiving $298 billion, an increase of more than one-third from 2024.

Benjamin Cavalli, head of strategic clients at UBS Global Wealth Management, described these heirs as proof of an intensifying multi-year wealth transfer. The bank estimates that at least $5.9 trillion will pass to billionaire children over the next fifteen years, with the United States leading this transition followed by India, France, Germany, and Switzerland.

Among the inheritance recipients were fifteen members of two prominent German pharmaceutical families, underscoring how dynastic wealth continues accumulating across generations in certain industries.

Self-Made Entrepreneurs Reshape Industries

Not all new fortunes came from family legacies. The report documents 196 self-made billionaires who added $386.5 billion to global wealth through entrepreneurial success. These innovators span diverse sectors including marketing software, genetics research, liquefied natural gas, and infrastructure development.

Notable newcomers include biotechnology entrepreneur Ben Lamm, infrastructure investor Michael Dorrell, the Zhang brothers behind Chinese beverage chain Mixue Ice Cream and Tea, and cryptocurrency mogul Justin Sun. Women billionaires saw particularly strong growth, with wealth among female billionaires increasing 8.4 percent, more than double the rate for men.

The United States remains home to the largest concentration of billionaires, with 924 individuals controlling approximately $6.9 trillion. Of the self-made newcomers, 87 hailed from America, demonstrating the country’s continued dominance in wealth creation.

Investment Outlook Shifts for Global Billionaires

Despite recent market volatility, North America remains the preferred investment destination for the ultra-wealthy, though enthusiasm has cooled somewhat. Confidence in the region dropped from 81 percent to 63 percent among those surveyed, while interest in Western Europe, Greater China, and the broader Asia-Pacific region has grown.

Looking ahead, 42 percent of billionaires plan to increase their exposure to emerging market equities over the next twelve months. Many also intend to boost allocations to private equity, hedge funds, and infrastructure investments as they seek diversification beyond traditional public markets.

As wealth concentration accelerates and the great wealth transfer intensifies, will growing inequality prompt renewed calls for policy intervention from governments worldwide?

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