2025 has seen more new billionaires created than every year except one since tracking began. And they're not all AI-focused
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There are 287 more billionaires in the world than there were a year ago, the second biggest jump in that rarified category on record. A new study by UBS finds there are now 2,900 billionaires who collectively control $15.8 trillion. That's up from a total of $14 trillion at this time in 2024.
The only year that saw more new millionaires minted was 2021, in large part because of low interest rates: 416 were created that year.
While artificial intelligence is capturing the lion's share of the public's attention these days, the UBS study found that the new billionaires came from a variety of fields. Ben Lamm, founder of Colossal Biosciences, joined the club, as did China's Zhang brothers of Mixue Ice Cream and Tea.
Of the new billionaires, 196 were self-made, while the other 91 became billionaires through inheritance. The number of new billionaires by inheritance is likely to grow, with an estimated $5.9 trillion ready to be handed down over the next 15 years.
In the U.S., there are now 924 billionaires, UBS said, who hold some $6.9 trillion. Of the 196 new billionaires who were self-made, 87 were from the U.S., UBS found.
Demographically, women are amassing big fortunes faster than men. There was an 8.4% average growth of wealth among women billionaires in 2025, more than double that of men. That trend has been ongoing since 2022. Of the 43 women who became billionaires, 27 inherited their wealth while 16 were self-made.
Despite the market volatility of the past year, North America is still the top investment destination of billionaires, though that has declined some in the past year. Almost two-thirds of those surveyed (63%) said they believed North America offers the greatest opportunity for returns. Last year, that number was 80%.
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