Global households got $40 trillion richer in 2025. That’s not a typo, and it’s not spread over a decade. One single year pushed total household net worth to $570 trillion, according to the McKinsey Global Institute’s newly released “Global Balance Sheet 2026” report.

The 7.3% jump outpaced the 5.9% average annual growth rate observed since 2000. The world’s overall balance sheet of assets swelled to nearly $1.8 quadrillion, up from $1.7 quadrillion in 2024.

Where the money actually came from

Only about 20% of that household wealth growth came from real capital formation, meaning actual investment in productive assets like factories, infrastructure, or businesses. Roughly 58% to 60% of the gains came from asset prices rising faster than inflation.

The geographic breakdown tells a familiar story. US and Canadian equity valuations did the heavy lifting, driving much of the global wealth increase. Meanwhile, several major economies including China, France, and Germany saw real estate prices decline.

This pattern of wealth growth consistently outpacing GDP growth since 2000 is what McKinsey diplomatically described as “posing questions about its health and stability.” Total household wealth has more than quadrupled since 2000 at nominal values and market exchange rates.

The crypto-shaped hole in the report

Perhaps the most striking detail for anyone in the digital asset space is what the report doesn’t mention. Crypto, Bitcoin, digital assets, tokenized securities: none of them appear in McKinsey’s analysis. Not once.

The methodology likely captures crypto holdings indirectly through equity valuations of publicly traded companies with Bitcoin exposure, or through brokerage accounts that include digital asset positions. But crypto as a distinct category remains absent from the conversation at McKinsey’s level.