UBS's eleventh Billionaire Ambitions Report reveals that global billionaire wealth hit a record $15.8 trillion in 2025, with the number of billionaires rising 8.8% to nearly 3,000. The report, based on a survey of 87 ultra-wealthy clients, found that 27% plan to increase their investment in art and antiques, while 65% intend to maintain current levels—totaling 92% of respondents. Enthusiasm is strongest in Europe, the Middle East, and Africa (35% planning increases), followed by Asia-Pacific (25%), and weakest in the Americas (15%).
The findings offer a glimmer of hope for art and antiques dealers navigating a shaky market, as billionaire demand for art remains robust even if most collectors do not view it as a financial investment. Matthew Newton, UBS's head of art advisory for the Americas, notes that billionaires treat art similarly to bonds or precious metals—as a store of value rather than a profit vehicle. However, the challenge for galleries lies in deciphering exactly which art this coveted demographic wants to buy.