The United Kingdom had 2,428,000 adults with net worth of at least USD 1 million as of 31 December 2025, according to the UBS Global Wealth Report 2026. That figure placed the UK fifth in the world and represented about 4.5 per cent of the adult population.
The number of millionaires in the UK depends on the definition. UBS counts net worth in US dollars (financial assets, property and other real assets, minus debts). Henley & Partners counts residents of London with at least USD 1 million in liquid investable wealth, which excludes property. HMRC counts Income Tax payers with total taxable income above £1 million, which measures income rather than wealth. The ONS Wealth and Assets Survey reports the wealth threshold for the wealthiest 10 per cent of British households but publishes no direct count of millionaire households.
Key figures
- 2,428,000 US dollar millionaires in the United Kingdom (UBS, net worth of USD 1 million or more) (as of 31 December 2025)
- 43,139 new US dollar millionaires in the United Kingdom in 2025 (UBS) (as of 31 December 2025)
- 1.8% rise in the number of US dollar millionaires in the United Kingdom in 2025 (UBS) (as of 31 December 2025)
- 4.5% of UK adults are US dollar millionaires, approximately (UBS: "around the 4.5% mark") (as of 31 December 2025)
- 292,808 average wealth per adult in the United Kingdom (UBS) (as of 31 December 2025)
- 125,335 median wealth per adult in the United Kingdom (UBS) (as of 31 December 2025)
What this page measures
This page reports four separate counts: the number of adults in the United Kingdom with net worth of USD 1 million or more (UBS), the number of millionaires living in London by liquid investable wealth (Henley & Partners), the number of UK Income Tax payers with total income above £1 million (HMRC), and the wealth threshold for the wealthiest 10 per cent of households in Great Britain (ONS). Each organisation uses a different definition, currency and date, so the figures cannot be added, averaged or reconciled.
How many millionaires in the UK? Estimates by definition
| Source | Definition | Count | As of |
|---|---|---|---|
| UBS Global Wealth Report 2026 | Adults with net worth of USD 1m+ (including property, minus debts) | 2,428,000 | End-2025 |
| Henley & Partners World's Wealthiest Cities Report 2025 | London residents with liquid investable wealth of USD 1m+ | 215,700 | End-2024 |
| HMRC Survey of Personal Incomes | Income Tax payers with total income above £1m (income, not wealth) | 26,000 | 2023 to 2024 |
Source: UBS; Henley & Partners; HMRC. Different definitions; do not add or average.
US dollar millionaires in the United Kingdom
UBS counted 2,428,000 adults in the United Kingdom with net worth of at least USD 1 million as of 31 December 2025. Net worth includes financial assets, property and other real assets, minus debts. The UK ranked fifth in the world by this measure.
The number rose by about 43,000 in 2025, a rise of 1.8 per cent as of 31 December 2025. About 4.5 per cent of UK adults were US dollar millionaires as of that date. The average wealth per adult in the United Kingdom stood at USD 292,808 as of 31 December 2025, and the median wealth per adult stood at USD 125,335 as of the same date.
Millionaires in London
Henley & Partners counted 215,700 millionaires living in London as of 31 December 2024. The firm defines a millionaire as a resident with liquid investable wealth of at least USD 1 million; this measure excludes property. London's millionaire population fell by 12 per cent over the decade to 2024, and the city fell to sixth place in the World's Wealthiest Cities Report 2025, published in April 2025.
Income Tax payers with income above £1 million
HMRC counted 26,000 UK Income Tax payers with total income above £1 million in the tax year 2023 to 2024, as of 5 April 2024. This figure measures income, not wealth. Of that total, 18,000 had income of £1 million to under £2 million, and 9,000 had income of £2 million or more. HMRC rounds these counts to the nearest thousand, so the two bands may not add up to the published total.
HMRC projects that about 20,000 taxpayers will have income of £1 million to under £2 million in 2024 to 2025 and about 10,000 will have income of £2 million or more, that about 21,000 will have income of £1 million to under £2 million in 2025 to 2026 and about 11,000 will have income of £2 million or more, and that about 23,000 will have income of £1 million to under £2 million in 2026 to 2027 and about 11,000 will have income of £2 million or more. Years after 2023 to 2024 are projections.
UK Income Tax payers with income of £1 million or more, by tax year (HMRC)
| Tax year | Taxpayers with income £1m to under £2m | Taxpayers with income £2m or more | Status |
|---|---|---|---|
| 2023 to 2024 | 18,000 | 9,000 | Outturn |
| 2024 to 2025 | 20,000 | 10,000 | Projection |
| 2025 to 2026 | 21,000 | 11,000 | Projection |
| 2026 to 2027 | 23,000 | 11,000 | Projection |
Source: HMRC, Income Tax liabilities statistics, Table 2.5 (15 July 2026). HMRC rounds these counts to the nearest thousand, so bands may not add up to the published total; years after 2023 to 2024 are projections
Household wealth in Great Britain
The ONS Wealth and Assets Survey found that the wealthiest 10 per cent of households in Great Britain had total wealth of £1,200,500 or more as of 31 March 2022. Total wealth includes property, private pensions, financial and physical wealth. The median household had total wealth of £293,700, and the wealthiest 1 per cent had total wealth of £3,121,500 or more. The ONS has suspended the accredited status of these statistics and publishes no direct count of millionaire households.
Household total wealth in Great Britain, April 2020 to March 2022 (ONS)
| Measure | Total household wealth (£) |
|---|---|
| Median household | 293,700 |
| Threshold for the wealthiest 10% of households | 1,200,500 |
| Threshold for the wealthiest 1% of households | 3,121,500 |
Source: ONS, Household total wealth in Great Britain: April 2020 to March 2022. Total wealth includes property, private pensions, financial and physical wealth. Latest release; accredited status suspended.
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Frequently asked questions
How many millionaires are there in the UK?
UBS counted 2,428,000 adults in the United Kingdom with net worth of at least USD 1 million as of 31 December 2025. Henley & Partners counted 215,700 millionaires in London (liquid investable wealth, property excluded) as of 31 December 2024. HMRC counted 26,000 Income Tax payers with total income above £1 million in 2023 to 2024. Each uses a different definition.
Why do the millionaire counts differ?
UBS counts net worth in US dollars (including property, minus debts). Henley & Partners counts liquid investable wealth in US dollars (excluding property). HMRC counts taxable income in pounds sterling, not wealth. The ONS reports household wealth in pounds sterling. Different definitions, currencies and dates produce different counts that cannot be added or averaged.
How many people in the UK earn over £1 million a year?
HMRC counted 26,000 UK Income Tax payers with total income above £1 million in the tax year 2023 to 2024, as of 5 April 2024. Of that total, 18,000 had income of £1 million to under £2 million, and 9,000 had income of £2 million or more. This measures income, not wealth.
How many millionaires live in London?
Henley & Partners counted 215,700 millionaires living in London as of 31 December 2024. The firm defines a millionaire as a resident with liquid investable wealth of at least USD 1 million; this measure excludes property. London's millionaire population fell by 12 per cent over the decade to 2024.
What is the wealth of the top 10 per cent of UK households?
The ONS Wealth and Assets Survey found that the wealthiest 10 per cent of households in Great Britain had total wealth of £1,200,500 or more as of 31 March 2022. Total wealth includes property, private pensions, financial and physical wealth. The ONS has suspended the accredited status of these statistics.
Download the data
Download the tables as CSV (data as of 15 July 2026).
Related statistics
- How many millionaires in the US? 23.6 million in 2025
- How many millionaires in the world? 57.5 million in 2025
- UK Company Formations Statistics 2026
- UK Sponsor Register Statistics 2026
Sources
- UBS Global Wealth Report 2026 (full report, PDF)
- UBS media release: Global Wealth Report 2026 (30 June 2026)
- Financial Planning: US minted 1,200 millionaires a day in 2025 (UBS figures, 6 July 2026)
- Capgemini press release: World Wealth Report 2026 (4 June 2026)
- Henley & Partners: The World's Wealthiest Cities in 2025 (press release, 8 April 2025)
- HMRC Income Tax liabilities statistics 2023-24 to 2026-27: bulletin commentary (15 July 2026)
- HMRC Income Tax liabilities statistics, collated tables 2.1 to 2.6 (ODS)
- ONS Household total wealth in Great Britain: April 2020 to March 2022 (24 January 2025)
Updated 18 October 2026. This page is refreshed automatically when new data is published; figures carry the date they are true for. Figures checked against their sources on 18 October 2026. Permanent link: https://millionaire.news/how-many-millionaires-in-the-uk/
Last verified: 2026-10-18
