Australia is officially the third-richest country in the world by median wealth for 2026

Australia’s millionaire club is expanding fast, and it’s no longer reserved for the rich and famous. New data from the 2026 UBS Global Wealth Report reveals that more than 1.6 million everyday Aussies now boast a seven-figure net worth in US dollars (roughly A$1.45 million), putting our nation among the wealthiest on Earth.

Now in its 17th edition, the Global Wealth Report shows that the world’s total personal wealth increased 10.8 per cent in 2025 – up 4.6 per cent in 2024 and 4.2 per cent in 2023.

According to the report, Australia has the third-highest median wealth at US$210,783 (A$306,074). This metric measures the exact middle of the country's wealth distribution, meaning half the population has more than this amount and half has less. It places us behind only Luxembourg at US$394,005 (A$572,130) and Belgium at US$277,166 (A$402,471).

Meanwhile, Australia ranked fifth for average wealth – a figure skewed by the extreme wealth of billionaires – at US$616,306 (A$894,182). Switzerland topped the list at US$910,382 (A$1,321,957), followed by the United States, Luxembourg and Hong Kong.

The UBS report also tracks the number of global millionaires, using US dollars as the benchmark (US$1 million is roughly A$1.45 million). In the past year alone, roughly 25,000 Aussies joined the seven-figure club, lifting the nation’s total to 1.6 million. That ranks Australia seventh globally for total millionaires, behind the United States (23.6 million) and China (5.3 million), plus Japan, Germany, the United Kingdom and France – each of which boasts more than 2 million millionaires.

While these countries usually derive their wealth from financial markets, business ownership or inherited fortunes, Australian wealth is largely tied to real estate. Aussie households now collectively hold around A$12.3 trillion in residential land and homes.

Interestingly, UBS found Australia's wealth gap actually narrowed over the last year. The country’s Gini coefficient – a measure of how equally wealth is distributed – decreased to 0.53, placing Australia 52nd out of 56 countries evaluated. By comparison, the United Arab Emirates and Russia recorded the highest levels of wealth inequality at 0.82, followed by South Africa and Brazil at 0.81.

The 10 richest countries for 2026 by median wealth

1. Luxembourg – US$394,005 (A$572,130)
2. Belgium – US$277,166 (A$402,471)
3. Australia – US$210,783 (A$306,074)
4. New Zealand – US$206,617 (A$300,026)
5. Denmark – US$203,771 (A$295,894)
6. Hong Kong SAR – US$187,968 (A$272,947)
7. Canada – US$147,811 (A$214,635)
8. Switzerland – US$145,555 (A$211,360)
9. Norway – US$140,003 (A$203,297)
10. Japan – US$135,745 (A$197,115)

The 10 richest countries for 2026 by average wealth

1. Switzerland – US$910,382 (A$1,321,957)
2. United States – US$696,277 (A$1,011,059)
3. Luxembourg – US$654,732 (A$950,730)
4. Hong Kong USSAR – $648,267 (A$941,342)
5. Australia – US$616,306 (A$894,182)
6. Singapore – US$527,217 (A$765,566)
7. Denmark – US$523,344 (A$759,940)
8. New Zealand – US$449,852 (A$653,227)
9. Norway – US$425,391 (A$617,707)
10. Netherlands – US$415,287 (A$603,032)

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