Why There Are More Billionaires in the World Now Than Ever

There are more billionaires in the world than ever before, according to a new report from Swiss bank UBS.

The report found that the world now has 2,919 billionaires, representing an 8.8% increase from 2024. These billionaires have a combined net worth of about $15.8 trillion. Their total wealth rose by roughly 13% in a year, indicating that existing billionaires are becoming even richer, while new ones are emerging. UBS based its findings on surveys of its billionaire clients as well as a billionaire database it maintains with consulting firm PwC.

The report stated that there were 287 new billionaires added in 2025, with about 70% classified as self-made, meaning that they did not inherit their wealth, but rather, built it up on their own. Of the new global billionaires, 91 people inherited their fortunes, including several members of prominent pharmaceutical families in Germany. Over the next 15 years, an estimated $5.9 trillion is expected to be passed down to billionaire heirs, which is likely to sustain or increase the billionaire count further, per the report.

Another major driver in surging net worth, besides inheritances, is the AI-fueled boom in technology stocks like Nvidia, Meta and Oracle. The Magnificent Seven, a group of seven high-performing U.S. tech companies including Nvidia, Amazon, Apple, Meta, Microsoft, Google and Tesla, has seen its stock prices grow by a combined total of 25% this year.

Related: This AI Startup Just Made Its 4 Co-Founders Billionaires — And They’re All Under 30

That growth has led to the skyrocketing wealth of tech billionaires, including Oracle founder Larry Ellison and Nvidia CEO Jensen Huang, thanks to their companies’ AI-driven performances. Ellison is the second-richest person in the world, with a net worth of $274 billion, and his fortune has grown by $104 billion year-to-date as a result of the AI boom. Meanwhile, Huang is the ninth-richest person, with his net worth surging by $45 billion year-to-date to reach $159 billion at the time of writing, per the Bloomberg Billionaires Index.

In the U.S. alone, 924 billionaires account for almost a third of the global billionaire population, per the report. There were 87 new self-made billionaires in the U.S. in 2025, including Ben Lamm, co-founder of genetics and bioscience company Colossal, and Michael Dorrell, co-founder and CEO of infrastructure investment firm Stonepeak.

Three-quarters of global billionaires (75%) see technology and AI as the most pressing challenge that younger generations will have to face.

“I see AI as both an enormous opportunity and a challenge,” one billionaire told UBS in the report. “How do we ensure technology serves society rather than replaces the human touch that’s so essential in hospitality and in life?”

Related: This 29-Year-Old Former Ballerina Just Became the World’s Youngest Self-Made Female Billionaire

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There are more billionaires in the world than ever before, according to a new report from Swiss bank UBS.

The report found that the world now has 2,919 billionaires, representing an 8.8% increase from 2024. These billionaires have a combined net worth of about $15.8 trillion. Their total wealth rose by roughly 13% in a year, indicating that existing billionaires are becoming even richer, while new ones are emerging. UBS based its findings on surveys of its billionaire clients as well as a billionaire database it maintains with consulting firm PwC.