According to the Capgemini World Wealth Report cited by CNBC, the global population of millionaires grew 7.9% to 25.3 million in 2025 while their investible assets rose 8.7% to $98.3 trillion. Ultra-high-net-worth individuals numbered 250,000 and held 35% of that wealth. Stock market gains accounted for nearly 2 million new millionaires.
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“Soaring stocks created 2 million new millionaires around the world last year”
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The 8.7% wealth increase to $98.3 trillion and addition of nearly 2 million millionaires reflect market dynamics that favor existing capital owners and accelerate concentration of wealth.
“Elite capture of financial gains and widening investor-wage earner gap”
The rise to 25.3 million millionaires and $98.3 trillion in wealth demonstrates the capacity of equity markets and corporate earnings to generate broad prosperity under pro-growth policies.
“Free-market capitalism and rewards for risk-taking and innovation”
Growth in millionaire numbers and wealth illustrates voluntary capital allocation and property rights exercised through investment without coercive redistribution.
“Individual liberty and market-driven financial independence”
All three views accept the report's framing of stock-market gains while overlooking monetary expansion, lack of inflation adjustment, and unexamined entry-exit or geographic patterns.
“Shared premise that headline growth equals genuine productivity or durable prosperity”
Ratings by MBFC