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The Guardian - AU
The Guardian - AU
National
Patrick Commins Economics editor

Australia’s median wealth falls almost 7% since 2020 despite the rich getting richer, report says

Saul Eslake Australia UBS United States Inequality
Hands holding Australian cash; one hand holds a fistful of $50 notes, another in the background holds a single $20 note
Average wealth among Australians climbed by 19% so far this decade but median wealth dropped 7%, suggesting most of the gains were by those already at the top. Photograph: Ian Waldie/Getty Images

Middle Australia’s wealth is going backwards while the richest claim an ever-greater share of the pile, according to new research that shows more than 25,000 people across the country became millionaires last year.

The latest global wealth report from the Swiss bank UBS said 2025 marked “an extraordinary year”, in which close to a million new millionaires were created worldwide – a record increase in a single year.

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