Signal Equity was the largest source of wealth creation in nearly every major economy in 2025

Summary

MGI reports that in 2025 equity was the single largest driver of wealth creation in nearly all major economies. Every major economy recorded growth in equity assets, and in several this gain offset losses elsewhere. Real estate fell in many of them, including China, Germany, France, Italy, and Canada. The pattern differs from the long-run norm, in which property generated more than half of global household wealth growth, and fits the finding that 57 percent of new household wealth in 2025 came from equity. Household portfolios still vary widely, with equity above a third of household wealth in the United States and Canada, while currency and deposits exceed a third in China and Japan, partly reflecting different retirement systems.