Why are there more billionaires in the world now than ever before?

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

The report found that there are now 2,919 billionaires in the world, which represents an increase of 8.8% from 2024. The total wealth of these billionaires is approximately $15.8 trillion. Their net worth increased by nearly 13% in a year, showing that existing billionaires are getting even richer, while new ones are emerging. UBS based its findings on a survey of its billionaire clients as well as a billionaire database maintained with consulting firm PwC.

The report said there were 287 new billionaires added in 2025, with nearly 70% of them classified as self-made, meaning they did not inherit their wealth but instead created it on their own. Of the new global billionaires, 91 inherited their wealth, including several members of Germany’s leading pharmaceutical families. According to the report, over the next 15 years, an estimated $5.9 trillion is expected to be passed on to billionaire heirs, making the number of billionaires likely to remain intact or increase.

Another major factor in the rise in net worth, apart from legacy, is the AI-fueled surge in technology stocks like Nvidia, Meta and Oracle. The Magnificent Seven, a group of seven high-performing US tech companies including Nvidia, Amazon, Apple, Meta, Microsoft, Google and Tesla, have seen their stock prices rise an overall 25% this year.

Connected: This AI Startup Made Its 4 Co-Founders Billionaires – And They’re All Under 30

That growth has led to the wealth of tech billionaires including Oracle founder Larry Ellison and Nvidia CEO Jensen Huang skyrocketing, thanks to their companies’ AI-powered performance. Alison is second richest person in the world, with a net worth of $274 billion, and their wealth has increased by $104 billion year-on-year as a result of the AI ​​boom. Meanwhile, Huang is ninth richest personAt the time of this writing his net worth has increased from $45 billion to $159 billion. Bloomberg Billionaires Index,

According to the report, there are 924 billionaires in the US alone, almost a third of the global billionaire population. There were 87 new self-made billionaires in the US 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 biggest challenges the younger generation will face.

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

Connected: This 29-year-old former ballerina becomes the world’s youngest self-made female billionaire

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

The report found that there are now 2,919 billionaires in the world, which represents an increase of 8.8% from 2024. The total wealth of these billionaires is approximately $15.8 trillion. Their net worth increased by nearly 13% in a year, showing that existing billionaires are getting even richer, while new ones are emerging. UBS based its findings on a survey of its billionaire clients as well as a billionaire database maintained with consulting firm PwC.