AI Stock Rally Creates 2 Million New Millionaires in 2025

Stock markets fueled by artificial intelligence investments created nearly 2 million new millionaires worldwide in 2025, according to Capgemini’s latest wealth report. The global high-net-worth individual population surged 7.9% to 25.3 million, with total wealth climbing 8.7% to $98.3 trillion. This marks the fastest growth in five years. Meanwhile, India added over 71,000 millionaires despite weaker capital market performance, supported by strong economic growth and rising household savings.

Global Millionaire Boom Driven by AI Stocks

The number of individuals with $1 million or more in investable assets rose by 2 million through 2025, according to Capgemini’s wealth report. Over one-third live in the US. Luca Russignan, global head of the Capgemini Research Institute for Financial Services, said AI-driven returns were the single most important driver of equity performance. Stock allocation in millionaires’ portfolios globally increased 3 percentage points to 25% in 2025.

Ultra-Wealthy Outpace Regular Millionaires

Ultra-high-net-worth individuals, or those with $30 million or more, grew faster than regular millionaires. The UHNWI population surged 9.4% to 250,000, while their wealth rose 9.7%. UHNWIs now represent just 1% of all millionaires but hold 35% of total millionaire wealth. Gareth Wilson, global banking industry lead at Capgemini, said the ultra-wealthy have access to pre-IPO investments and private markets that regular millionaires do not.

India’s Millionaire Growth Outpaces Market Gains

India’s high-net-worth individual population grew 3% year-on-year to 1.64 million in 2025, with total HNWI wealth rising 4.6% to $1.64 trillion. The country added over 71,000 new millionaires despite softer equity market performance. India’s real GDP accelerated to 7.6% in 2025 from 6.3% in 2024. National savings as a percentage of GDP improved to 32.2% from 31.2% a year earlier, supporting wealth creation.

Headwinds in India’s Real Estate and Equity Markets

India’s wealth creation momentum moderated compared with global peers due to softer capital market and real estate performance. Market capitalisation growth slowed sharply to 2.5% in 2025 after a 21% rally in 2024, amid weaker corporate earnings and elevated valuations. Real estate prices declined 0.6% in 2025 compared with 1.3% growth a year earlier. New home sales volumes fell 14% year-on-year as elevated property prices weakened affordability.

Final Thoughts

AI-driven stock rallies created unprecedented wealth globally in 2025, but access to returns remains unequal. India’s millionaire growth outpaced its equity market performance, showing wealth creation depends on savings and economic growth, not just stock gains.

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