Portugal sees surge in millionaires while wealth gap widens

Portugal recorded a rise in the number of millionaires, reaching 181,000 in 2025 – an increase of about 3.4% or roughly 6,000 new millionaires compared with the previous year, according to UBS’s Global Wealth Report 2026. The country ranks 26th worldwide in average wealth per adult at $195,761, but the median wealth per adult is only $76,978, a real‑term fall of 5.4% since 2020.

The growth in average wealth is driven largely by higher valuations of financial assets and real‑estate, yet the bulk of Portuguese millionaires’ portfolios remain concentrated in non‑financial assets – only about 37% is in financial securities, the rest being property and other tangible holdings. The disparity between average and median wealth highlights an increasing concentration of wealth at the top, with the majority of Portuguese households seeing little improvement in their own net assets.

Analysts note that while the overall wealth pool expanded, the benefits accrued mainly to wealthy households, leaving the median‑wealth figure below pre‑pandemic levels and underscoring a widening inequality gap within the country.