One in Six

Nearly one in six adults in Luxembourg is a millionaire. That is the headline from the latest UBS Global Wealth Report, published this week. It is a striking statistic, and it says a great deal about the composition of wealth in the Grand Duchy.[1]

Luxembourg ranks third globally in average net worth per adult, at $654,732, behind only Switzerland ($910,382) and the United States ($696,277). France, by comparison, sits 15th at $341,359, just behind Germany at $346,613.[1]

The report estimates that Luxembourg has approximately 85,000 millionaires, ranking 30th globally in absolute numbers. The United States leads with nearly 23.6 million, followed by China (5.3 million) and Japan (2.9 million). But Luxembourg's small population makes the proportion extraordinary: 85,000 millionaires out of roughly 680,000 adults means about 12.5% of the adult population holds assets worth at least one million dollars.[1]

Global wealth grew by 10.8% in dollar terms in 2025, significantly outpacing 2024 (4.6%) and 2023 (4.2%). Growth was strongest in Europe, the Middle East and Africa at 17.5%, helped by a weaker dollar. The Americas grew 8.5%, Asia-Pacific 5.9%. Nearly one million people worldwide became dollar millionaires last year, roughly 2,600 per day.[1]

These numbers, however, describe averages, not medians. In a country where cross-border workers are not counted as residents but contribute significantly to the economy, and where property values have climbed for decades, the average is pulled upward by a concentration at the top. The median resident's experience is very different from what the averages suggest. A million-dollar net worth in Luxembourg is often less about liquid wealth and more about a house that has appreciated beyond what its owner could afford to repurchase.[2]

Still, the report confirms what anyone living here already knows: Luxembourg is wealthy, and that wealth is deeply embedded in property. Whether that wealth is broadly shared or narrowly concentrated is a question the averages cannot answer.