This is misleading. The 442,000 figure is an Adam Smith Institute modelled estimate of inflation-adjusted £ millionaires, not the total number of millionaires normally reported internationally and the institute itself admits the absolute figure is uncertain.
UBS’s 2026 Global Wealth Report says the UK had more than 2 million US-dollar millionaires in 2025 and actually added over 43,000 during the year.
So the UK did not simply fall from 1 million millionaires to 442,000. These are different definitions and methodologies being presented as though they measure the same thing. They don’t.
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