UBS Billionaire Ambitions 2025: Rise Of A New Generation Reshapes Global Wealth

Global billionaire wealth climbed to a record $15.8 trillion in 2025, with 2,919 individuals now holding billionaire status, according to UBS’s 11th Billionaire Ambitions Report. The surge was driven by 196 new self-made billionaires and the largest multi-generational inheritance wave recorded since the study began.

The report highlights the Middle East as a fast-growing hub, with Saudi Arabian billionaire wealth more than doubling to $81 billion and United Arab Emirates billionaires’ wealth rising 21.6 percent year on year to $168.7 billion. UBS estimates around $6.9 trillion will be transferred by billionaires globally by 2040.

Image Courtesy: cottonbro studio/Pexels

Benjamin Cavalli, Head of Strategic Clients & Global Connectivity at UBS Global Wealth Management and Co-Head EMEA OneUBS, said a new cohort of wealth creators and inheritors is reshaping priorities, with families shifting focus from mere preservation towards empowering younger generations to act independently, influence succession, guide philanthropy, and inform long-term investment strategies.

Niels Zilkens, Head Wealth Management Middle East at UBS GWM, said the report shows a surge in wealth creation and transfer across the Middle East, with the UAE and Saudi Arabia leading. Heirs in the region are expected to inherit around $153 billion over the next 15 years, reinforcing the region’s expanding role in global wealth.

Across the Middle East, Saudi Arabian billionaire wealth increased 113.2 percent year on year to $81.0 billion, while billionaire wealth in the UAE rose to $168.7 billion, underlining both entrepreneurial activity and intensified intergenerational transfers. UBS notes families are increasingly looking to preserve and grow legacies across borders and generations.

Globally, 196 self-made entrepreneurs became new billionaires in 2025, with combined assets of $386.5 billion. This was the second-highest annual tally after 2021, when 360 new self-made billionaires held $782.0 billion. The number has risen from 84 individuals with $140.7 billion in 2023 to 161 with $305.6 billion in 2024.

By the research cut-off date of 4 April 2025, billionaire numbers had increased 8.8 percent from 2,682 in the 2024 report to 2,919. Their combined wealth grew 13 percent to $15.8 trillion, with the Americas leading at $7.5 trillion, Asia-Pacific at $4.2 trillion, and EMEA at $4.1 trillion.

Sector performance varied. Technology billionaires’ assets expanded 23.8 percent, or $583.5 billion, to $3.0 trillion, rivalling consumer and retail as the largest sector. Consumer and retail billionaire wealth rose 5.3 percent to $3.1 trillion, reflecting slower growth as European luxury brands ceded momentum to Chinese competitors.

Industrial wealth recorded the fastest growth, up 27.1 percent to $1.7 trillion, with 25.8 percent of that increase attributable to new billionaires. Financial services wealth climbed 17 percent to $2.3 trillion, and more than 80 percent of that total was held by self-made billionaires, supported by strong markets and a cryptocurrency rebound.

The report notes that six US technology billionaires whose wealth rose the most became USD 171.0 billion richer collectively, closely linked to their companies’ capabilities in artificial intelligence, from foundational chip manufacturing to AI-powered cloud infrastructure. This concentration highlights AI’s growing role in capital formation at the upper end of global wealth.

Inheritance accelerated sharply in 2025. Ninety-one heirs received a record $297.8 billion, up 36 percent on 2024 despite fewer beneficiaries. Of these, 64 heirs were male and 27 female. The number of multi-generational billionaires increased to around 860, overseeing $4.7 trillion, from 805 with $4.2 trillion in 2024.

Second-generation billionaires grew 4.6 percent, third-generation by 12.3 percent, and those in the fourth generation or beyond by 10 percent. This gradual extension across generations is reinforcing family control over substantial capital pools, while adding complexity to governance, succession planning, and cross-border legal and tax considerations.

Across regions, Western Europe produced 48 heirs who inherited $149.5 billion, more than twice the 18 heirs in North America, who received $86.5 billion, and over four times the 11 heirs in Southeast Asia, who inherited $24.7 billion. Overall, billionaire wealth transfers are expected to intensify in the coming decades.

UBS calculates that billionaires are likely to transfer approximately $6.9 trillion of wealth globally by 2040, with at least $5.9 trillion destined for children, either directly or via spouses. Nearly half of this, at least $2.8 trillion, is projected to go to US heirs, followed by Western Europe and Asia-Pacific.

Mobility remains a defining feature of billionaire life. Some 36 percent of respondents said they had relocated at least once, and 9 percent were considering moving. Better quality of life and major geopolitical concerns were each cited by 36 percent, while 35 percent pointed to the ability to organise tax affairs more efficiently.

Family dynamics are also shifting. More than eight in ten billionaires with children want them to succeed independently, emphasising skills rather than reliance on inherited wealth. Over two-thirds hope heirs will follow their own passions, and more than half would like them to deploy their resources to make a positive impact on society.

Surveyed billionaires generally see younger generations as more focused on technological advancement, innovation, lifestyle, and impact investing than their predecessors. Looking ahead, 75 percent consider technology and AI a pressing social challenge, 55 percent highlight climate change, and 45 percent identify poverty and inequality as major issues future leaders will need to tackle.

Regional perspectives diverge: respondents based in EMEA rank climate change, and poverty and inequality, as the most pressing challenges, while those in the Americas prioritise technology and AI followed by education. In Asia-Pacific, technology and AI dominate concerns, aligning with the region’s strong exposure to digital and manufacturing industries.

Despite volatility in 2025, North America remains the preferred investment destination, cited by 63 percent of billionaires, followed by Western Europe at 40 percent and Greater China at 34 percent. Some 42 percent plan to increase exposure to emerging markets equities over the next 12 months, reflecting renewed confidence in Asia-Pacific.

Among developed market equities, 43 percent intend to raise exposure, while 7 percent expect to reduce it. Many respondents also plan to increase allocations to private equity, hedge funds, and infrastructure. The main concerns for the coming year are tariffs, cited by 66 percent, major geopolitical conflict at 63 percent, and policy uncertainty at 59 percent.

US billionaires led the creation of new fortunes. Across the Americas, 92 self-made new billionaires held $179.9 billion, with 87 of them domiciled in the US and accounting for $171.9 billion. In Asia-Pacific, 61 individuals became new billionaires with $124.4 billion, while EMEA added 43 new billionaires holding $82.2 billion.

Women continue to increase their share of billionaire wealth. There are 374 female billionaires compared with 2,545 men. However, women’s average wealth rose 8.4 percent in 2025 to $5.2 billion, more than twice men’s 3.2 percent growth to $5.4 billion, driven chiefly by consumer and retail assets totalling an estimated $619.9 billion.