The Bulletin with UBS ‘Global Wealth Report 2025’: What are the trends and drivers of wealth creation?
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Jun 29, 2025 
Join Paul Donovan, Chief Economist at UBS, and James Mazeau, Economist in UBS Global Wealth Management, as they unpack fascinating trends shaping global wealth. They discuss the rise of everyday millionaires and the complexities of measuring wealth distribution. Key insights include the great wealth transfer, the increasing prominence of wealthy women, and the emergence of new millionaire profiles, like the 'Emily.' Discover how shifts in generational wealth are changing the landscape of wealth management and the importance of thoughtful economic analysis.
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Wealth Growth Follows Long-Term Trends
- Wealth growth trends evolve slowly and are largely predictable with little yearly surprise.
- Long-term factors like demographics and financial markets primarily drive wealth trends and distribution.
Treat Wealth Data as Estimates
- Wealth data is imprecise and based on estimates from surveys and tax records.
- Always treat wealth figures as estimates, not exact counts, due to common data limitations.
Asset Prices Drive Wealth Growth
- Global wealth is rising due to increasing asset prices in real estate and equities.
- Currency fluctuations significantly affect dollar-denominated wealth comparisons between regions.