Brazil added 9,215 new millionaires in 2025, an increase of 2.4% compared to the previous year. The data is contained in the Global Wealth Report 2026, an annual report from UBS released this Tuesday (30), which tracks the evolution of wealth in dollars in 56 markets. With the advance, the country reached 386 thousand dollar millionaires, the highest concentration in Latin America, ahead of Mexico, which has 333 thousand.
The Brazilian movement follows a global trend. According to UBS, the number of millionaires in the world grew by 1.5% in 2025, equivalent to almost 1 million new people in this range, with the United States accounting for almost half of this total.
Brazilian advancement is not limited to “entry-level” millionaires. In the ranges between 5 million and 100 million dollars in assets, the country records the third highest compound annual growth rate among the 15 markets highlighted by the report in these ranges since 2000, behind only mainland China and Australia. According to UBS calculations, the number of Brazilian adults in these groups grows between 9.6% and 9.9% per year, and the total now brings together 43 thousand people in the country.
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Part of the Latin American advance in 2025 has an exchange rate explanation. Latin America’s total wealth, measured in dollars, grew 17.4% in the year, one of the highest rates among the survey’s subregions. The report attributes much of this result to the devaluation of the dollar against other currencies throughout the year, and not necessarily to a real and equivalent gain in equity. Even so, the average wealth per adult in the region remains one of the lowest among the blocks analyzed, at around US$42,900, compared to more than US$696,000 in the USA.
High debt and persistent inequality
The Brazilian portrait, however, has counterpoints. Among the markets monitored by UBS, Brazil appears to have one of the highest proportions of household debt in relation to gross wealth, at 23.4%, ahead of Cyprus, Switzerland and the United Kingdom. The country is also among the most unequal in the survey: the Brazilian Gini coefficient is 0.81, on the same level as South Africa and behind only the United Arab Emirates and Russia, both with 0.82.
“People tend to think about their wealth in relation to other people’s wealth, not in absolute terms,” says Paul Donovan, chief economist at UBS Global Wealth Management, commenting on the key findings of this year’s report.
There is also a weaker breath signal at the base of the pyramid. In real terms, discounting inflation and measured in local currency, the average wealth per adult in Brazil fell 3.13% between 2020 and 2025, one of the 15 markets in the sample with a decline in this period.
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UBS’s reading is that Brazil reproduces, on a Latin American scale, a pattern observed in several emerging economies in this cycle: the top of the wealth pyramid expands strongly, driven by financial markets and exchange rate effects, while the base remains more pressured by debt and more timid real gains.
