India, June 30 -- Income inequality has grown worldwide, with median wealth dropping in most markets that Swiss bank UBS analysed, its annual Global Wealth Report 2025, published on Tuesday, said.

According to the report, personal wealth in 2025 grew at its fastest pace in years, creating nearly one million new millionaires in US dollar terms. The Swiss bank analysed 56 markets, which it estimates represent over 92 per cent of the world's wealth.

The total personal wealth rose by 10.8 per cent last year, up from 4.6 per cent in 2024 and 4.2 per cent in 2023. UBS credited the growth to the strong financial markets.

The report pointed out that there were "more millionaires than ever, everywhere" in 2025. The United States, where over 440...