Global personal wealth witnessed an extraordinary 10.8% growth in 2025, its fastest growth in at least three years, shows a new UBS report. While the USA remains the primary millionaire factory, India outpaced many developed markets in growth. India’s wealth is rooted in real assets rather than financial assets, and owes less debt. The country also cemented its position as a top-tier hub for millionaires: it now has as many of them as Switzerland.