Key insights
- The AI boom is significantly contributing to wealth creation, minting new millionaires at the fastest pace in years globally and particularly in the US. This surge in AI stocks, driving market highs and the S&P 500's gains, indicates strong investor confidence and capital flow into the technology sector. The trend suggests continued bullish sentiment for AI-related equities and potentially broader market strength, though concentration in tech could pose risks.
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The surge in AI stocks that's helped drive the market to record highs is also creating new millionaires at the fastest rate in years.
The world gained around 2 million new millionaires last year, marking the largest annual gain in five years, according to a recent report from French consulting firm Capgemini. The report found that stock market rallies across the globe, largely tied to the soaring value of AI companies, were the "primary engine" of their growing wealth.12
In the U.S., the market's top tech stocks were responsible for about more than half of the benchmark S&P 500 index's 16.4% gain in 2025, according to research from Goldman Sachs.3
The stock market has become an increasingly important engine of wealth creation, with equities representing a growing share of wealth for high-net-worth individuals.
By country, the U.S. minted the largest number of new millionaires last year at 736,000. That brought the number of millionaires in the country up to about 8.7 million people, or about 2.5% of the broader U.S. population.
The Asia-Pacific experienced the fastest growth in wealth by region, however, as demand for AI chips and other electronics made in the area boosted tech stocks.4 Capgemini estimates that last year's gains leave around 25.3 million high-net-worth individuals (HNWIs) around the world with over $1 million in investible assets.
The wealth of millionaires around the globe collectively rose about 8.7% to $98.3 trillion last year, according to Capgemini, with wealth growing at an even faster 9.4% rate for those with at least $30 million in investable assets.
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