UBS Global Wealth Report 2025

The UBS Global Wealth Report 2025, released on June 18, 2025, reveals Taiwan’s remarkable rise in wealth, with 759,000 US-dollar millionaires (net worth above approximately HK$7.8 million), ranking 15th globally and surpassing Hong Kong’s 647,000 and doubling Singapore’s millionaire population. The report highlights a 4.6% global wealth increase in 2024, driven significantly by the Americas’ 11% growth, with Taiwan’s per capita wealth soaring 35% over the past five years, trailing only South Korea (44%) and Norway (41%). However, this growth is concentrated among the ultra-wealthy, underscoring persistent wealth inequality.

The United States leads with over 23.8 million millionaires, accounting for nearly 40% of the global total, adding 379,000 new millionaires in 2024—equivalent to over 1,000 daily. Mainland China follows with 6.3 million millionaires, and together, the U.S. and China hold 54% of global wealth. The Greater China region (mainland China, Hong Kong, and Taiwan) excels in the $100,000 to $1 million wealth bracket, representing 28.2% of this global segment, ahead of Western Europe (25.4%) and North America (20.9%). Yet, over 80% of adults worldwide have net wealth below $100,000, with millionaires comprising just 1.6% of the global population.

Taiwan’s average wealth per adult reached $312,000 (approximately HK$2.43 million), ranking 15th globally, but its median wealth of $115,000 (approximately HK$897,000) highlights significant inequality, with wealth concentrated among a small elite. Over the past five years, Taiwan’s wealth grew by 35%, fueled by its booming AI and semiconductor industries, particularly companies like TSMC, which have driven export growth. The report projects a 50% increase in Taiwan’s millionaire population by 2028, the highest growth rate globally, driven by organic wealth accumulation and immigration by affluent foreigners.

While Europe, the Middle East, and Africa led wealth recovery in 2023, North America dominated in 2024 with the fastest growth, followed by a slower 2.85% increase in the Asia-Pacific region. Taiwan, alongside South Korea and Japan, is expected to see significant millionaire growth by 2028, with Taiwan leading the pack. Globally, UBS forecasts total wealth to reach $629 trillion by 2029, with the number of millionaires growing to approximately 68 million. The U.S. and Greater China are expected to maintain their dominance in global wealth.

In comparison, Hong Kong’s 647,000 millionaires and Singapore’s 333,204 (projected to grow 13% to 375,725 by 2028) trail Taiwan’s 759,000. Hong Kong’s wealth inequality has decreased by 6% since 2008, while Singapore’s has risen by 23%, with a Gini coefficient of 70 in 2023 compared to Hong Kong’s 63, indicating greater wealth disparity in Singapore.

The report highlights stark wealth disparities in Taiwan, mainland China, and other markets, where average wealth significantly exceeds median wealth, reflecting concentration among the ultra-wealthy. In Taiwan, while rapid economic growth has boosted average wealth, median wealth growth remains sluggish, suggesting that most citizens have not fully benefited from economic gains. Globally, a projected $83 trillion wealth transfer over the next 20–25 years, particularly in the Americas, will see women benefiting significantly from both inter- and intra-generational shifts, potentially reshaping wealth distribution.

Taiwan’s wealth growth, driven by its tech sector and strategic global positioning, positions it as a rising economic powerhouse. However, the report serves as a cautionary note on wealth inequality, urging policymakers to address inclusive growth to ensure broader societal benefits. As global wealth continues to expand, Taiwan’s trajectory highlights both its economic potential and the need for policies to bridge the wealth gap, ensuring sustainable prosperity for all.