An article summarized by CNBC:

A booming stock market helped create nearly 2 million new millionaires worldwide in 2025, pushing the global millionaire population up 7.9% to 25.3 million people, according to Capgemini’s World Wealth Report. Total millionaire wealth climbed 8.7% to $98.3 trillion, the fastest growth in five years. However, the biggest gains went to the ultra-rich, with individuals holding more than $30 million in investable assets seeing their ranks grow 9.4% and their wealth rise 9.7%.

The United States remained the largest driver of global wealth creation, adding 730,000 new millionaires and increasing total millionaire wealth to $31.3 trillion. Asia also posted strong gains, led by booming markets in South Korea and Taiwan, while Europe saw moderate growth. The report noted that ultra-wealthy investors continue to outperform because they have access to private markets, hedge funds, and pre-IPO investment opportunities that are often unavailable to ordinary millionaires.

Millionaires are increasingly shifting their money into stocks, reflecting a growing appetite for risk after several years of strong market performance. Equity allocations rose to 25% of portfolios while cash holdings declined. The report also found that wealthy investors are relying on more financial advisors than ever before, often spreading their assets across multiple firms and specialists rather than using a single advisor. As competition for wealthy clients intensifies, wealth management firms are focusing more on personalized services and relationship-building to attract and retain high-net-worth investors.

For the article: https://www.cnbc.com/2026/06/04/stocks-new-millionaires.html