UBS has released its 11th Billionaire Ambitions Report, highlighting significant shifts in global wealth creation and the increasing influence of a new generation of billionaires. The report, based on a survey of UBS billionaire clients worldwide, examines trends in inheritance, investment priorities, and family dynamics among some of the world’s wealthiest individuals.
“Our report shows how the rise of a new generation of wealth creators and inheritors is reshaping the global landscape,” said Benjamin Cavalli, Head of Strategic Clients & Global Connectivity at UBS Global Wealth Management and Co-Head EMEA OneUBS. “As families become more international and the great wealth transfer accelerates, the focus is shifting from simply preserving wealth to empowering the next generation to succeed independently and responsibly. This is influencing not only succession planning but also philanthropic priorities and long-term investment decisions.”
Cavalli added: “The billionaire community is more diverse, mobile, and forward-thinking than ever before. The combination of entrepreneurial drive and the largest intergenerational wealth transfer in history is creating new opportunities and challenges for families and wealth managers alike. At UBS, we are committed to guiding clients through this historic transition and helping them to unlock opportunities across borders.”
According to the report, 196 self-made billionaires contributed $386.5 billion to global wealth in 2025, bringing total billionaire wealth to a record $15.8 trillion. The number of billionaires increased by 8.8%, reaching nearly 3,000 globally. Unlike previous years where asset appreciation was key, recent growth has been driven by entrepreneurship in areas such as marketing software, genetics, liquefied natural gas, and infrastructure.
Technology sector billionaires saw their collective wealth rise by 23.8%. In contrast, consumer and retail sectors grew by just 5.3% due to slower performance from European luxury brands compared with Chinese competitors. Despite this slowdown, consumer/retail remains the largest sector at $3.1 trillion in assets.
Industrial sector wealth grew fastest at 27.1%, reaching $1.7 trillion—over a quarter coming from new entrants—while financial services increased by 17% to $2.3 trillion amid strong markets and cryptocurrency recovery.
Inheritance played an increasing role: in 2025 alone, 91 heirs inherited a record $297.8 billion—a jump of 36% over the previous year—even though fewer people inherited overall. There are now about 860 multi-generational billionaire families managing $4.7 trillion in assets.
Women’s average billionaire wealth rose by 8.4% to $5.2 billion—more than double men’s rate (3.2%)—continuing a four-year trend where women outpaced men in accumulating wealth.
The report notes that billionaires are increasingly mobile; over one-third have relocated at least once for reasons including quality of life improvements (36%), geopolitical concerns (36%), or tax considerations (35%). This mobility adds complexity as families navigate cross-border legal and financial systems.
Family priorities are changing as well: most surveyed billionaires want their children to succeed independently rather than rely solely on inherited fortunes; many hope heirs will pursue personal passions or use their resources for social impact.
Younger generations are seen as placing higher value on technology innovation, lifestyle choices, and impact investing compared with older cohorts; they are also expected to face major issues like AI development (75%), climate change (55%), and inequality (45%).
Despite market volatility in 2025, North America remains the top investment destination for these individuals (63%), followed by Western Europe (40%) and Greater China (34%). Many plan increased exposure to emerging market equities over the next year; private equity investments—including direct deals—hedge funds, and infrastructure projects are also favored.
Looking ahead through 2040, it is estimated that about $6.9 trillion will be transferred globally by billionaires—with at least $5.9 trillion going directly or indirectly to children—as part of what has been called the Great Wealth Transfer.
UBS manages approximately $6.9 trillion in invested assets as of Q3 2025 and operates in more than fifty markets worldwide from its headquarters in Zurich.