A somewhat overlooked type of millionaire is quietly growing in number across the world.
There is no standard profile of the “everyday millionaire,” or EMILLI, according to the UBS Global Wealth Report 2025. In fact, UBS says they are “so different from each other that they’re hard to spot.”
However, they all share the common trait of having amassed between $1 million and $5 million in net worth.
Everyday millionaires represent a powerful economic force. Worldwide, they account for $107 trillion of total wealth. That puts them just behind the $119 trillion held by those who have more than $5 million in assets.
Since 2000, the number of everyday millionaires has more than quadrupled worldwide. The number of EMILLIs surged as the 21st century got underway, growing from 13.27 million in 2000 to 44 million in 2019 and almost 52 million at the end of 2024.
Why is the number of everyday millionaires growing so fast? UBS says the prime factor driving the wealth boom is the rapid increase in real estate values around the world.
Exchange rates are another factor that has driven up the number of everyday millionaires. UBS defines EMILLIs as having between 1 million and 5 million in U.S. dollars specifically, no matter what country they live in. So when a major currency undergoes a devaluation against the U.S. dollar, it can make a “big dent” in the number of EMILLIs, UBS says.
The source of everyday-millionaire wealth varies a bit by country. In the United States, a high allocation in financial investments is common. In Australia, real estate holdings generate large wealth. Insurance and pensions contribute mightily to millionaire status in Singapore.
Baby boomers hold the most wealth of any generation by far, at more than $83 trillion.
In the U.S., the youngest cohort studied in the report — millennials — have by far the largest percentage of assets invested in consumer durables, which are long-lasting goods such as cars and household appliances.
They also have the largest percentage invested in real estate net of mortgages and investment in private businesses. UBS says this latter fact may suggest “an entrepreneurial streak in younger generations.”
By contrast, millennials have the lowest percentage among the generations invested in financial markets.
Over the next quarter-century, USB forecasts that, globally, more than $83 trillion is expected to be transferred from the holders of that wealth to others. About $9 trillion will move between spouses, and $74 trillion will move between generations.
If you hope to join the ranks of everyday millionaires, check out “The 10 Golden Rules of Becoming a Millionaire.”
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