For the first time since 2021, Belgium has recorded an increase in the number of dollar millionaires, according to the 30th edition of the World Wealth Report published by

Capgemini. In 2025, the country counted 146,400 individuals with investable assets of at least one million dollars, marking an 8.8% increase compared with the previous year.

Capgemini defines investable wealth as holdings in equities, securities, investments, cash, and real estate. Excluded from this calculation are primary residences, art collections, vehicles, and jewellery.

Based on this methodology, Belgium’s millionaire population collectively controls approximately 387.4 billion dollars in wealth, up 10.2% year-on-year. This growth outpaced the European average, a trend attributed largely to strong performance in equity markets.

Within the total group, 618 individuals in Belgium qualify as ultra-high-net-worth, with assets exceeding 30 million dollars. Globally, the number of dollar millionaires now stands at 25.3 million.

Despite the overall increase, Capgemini notes a gradual shift in wealth distribution. In Belgium, ultra-high-net-worth individuals account for 12.7% of total millionaire wealth, significantly lower than the global average of 34.8%. However, this share is rising.

According to Capgemini representative Iben Lambrechts, “the pyramid is becoming heavier at the top,” as wealth among Belgium’s ultra-rich expanded by 15% last year, compared with 8.9% growth among the broader group of “everyday millionaires.” Photo by Photo: Myrabella / Wikimedia Commons /  CC BY-SA 3.0