On December 4, UBS Group AG released its latest *UBS Billionaires Report*, revealing that the number of billionaires worldwide rose by 8.8% to 2,919 in 2025, with their combined wealth reaching a record high of $15.8 trillion (approximately HK$123.24 trillion), marking a 13% increase.
The Asia-Pacific region saw the most significant rebound in 2025, with its billionaire count growing from 981 to 1,036—the highest growth rate globally. Notably, 79% of these billionaires in the region are self-made, surpassing all other regions. Total wealth among Asia-Pacific billionaires climbed 11.1% to $4.2 trillion.
Mainland China remains the dominant force in the region, adding $321.4 billion in new wealth, bringing its total to $1.8 trillion. The country added 70 new billionaires, now totaling 470, second only to the U.S. (924).
Amy Lo, Chair of UBS Wealth Management Asia and Co-Head of UBS Wealth Management Asia Pacific, highlighted that Asia-Pacific billionaires are reshaping the global wealth landscape. Confidence in Greater China as a top investment destination has tripled in just one year, with nearly half of respondents expecting it to rank among the most attractive regions within five years.
From an industry perspective, tech billionaires led growth, with wealth surging 23.8% to $3 trillion, tied with consumer and retail sectors. Greater China’s tech billionaires staged a strong comeback, fueled by the launch of DeepSeek’s large language model and renewed interest in "Made in China" tech innovations. Meanwhile, European luxury brands lost momentum to Chinese competitors, slowing consumer and retail sector growth to 5.3%. Still, this sector holds the largest share of billionaire wealth globally at $3.1 trillion.
Regarding wealth transfer, heirs in South and East Asia are projected to inherit $764.6 billion over the next 15 years, with $407 billion expected in Greater China. India anticipates Asia’s largest intergenerational wealth transfer at $382.4 billion due to its aging billionaire population.
While North America remains the preferred investment region (63%), its dominance has slipped from 80% in 2024. Renewed confidence in Greater China and Asia-Pacific drove 34% of surveyed billionaires to view Greater China as offering the best opportunities—up sharply from 11% in 2024—while 33% favored the broader Asia-Pacific region (excluding Greater China), up from 25%.
Looking ahead, UBS expects billionaire and ultra-high-net-worth individual numbers to grow steadily in coming decades. By 2040, an estimated $6.9 trillion in global billionaire wealth will be transferred, with at least $5.9 trillion passed directly or indirectly (via spouses) to heirs.
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