Australia welcomes 25k to millionaires' club: UBS

Australia's club of millionaires jumped by 25,000 last year thanks to booming property values and fat superannuation balances, according to the latest UBS Global Wealth Report.

The number of Australian millionaires increased by 1.6% over the year, minting 25,089 people to high-net-worth status. This lifted the total millionaire population to more than 1.6 million.

Australia also ranked among the world's wealthiest nations on a per-capita basis, with average wealth per adult reaching US$616,306.

Only Hong Kong (US$648,267), the US (US$696,277), Luxembourg (US$ 654,732) and Switzerland (US$910,382) lead Australia, recording the top wealth levels on a per-adult basis.

The report found Australia is home to some 121,000 adults with wealth between US$5 million and US$100 million, placing it alongside mainland China and the US as one of the fastest-growing markets in this segment.

Australia also ranked highly on median wealth measures, placing third globally behind Luxembourg and Belgium. Nearly 70% of Australian adults hold assets exceeding US$100,000, second only to Luxembourg.

While residential property remains a major store of wealth, Australians also hold a relatively high proportion of liquid assets via equities, managed funds and superannuation investments, supporting broader participation in wealth creation across the population.

The report also measured the distribution of wealth. Australia comparatively boasts an even distribution of wealth with a Gini coefficient of at 0.53. This is significantly lower than the United Arab Emirates and Russia, which recorded the highest levels of wealth inequality at 0.82.

UBS Global Wealth Management Australia head of investments Andrew McAuley said once again, Australia punches above its weight in terms of wealth and equality and "should pride itself on the equality of its wealth distribution".

"Australia has seen average wealth per adult grow by 19% so far this decade in real terms when measured in AUD. Almost 8% of adults have assets of US$1 million or more, helped by property prices and superannuation balances," he said.

"Our Gini coefficient, a statistical measure of wealth inequality and indirectly quality of life, is extremely low, ranking fifth best out of the 56 nations analysed."

Overall, total personal wealth around the world grew by 10.8% during 2025.