The booming stock market is making a lot of folks richer, especially those who are already spectacularly rich, finds a report out from consulting firm Capgemini Thursday.

Why it matters: Welp. Even among those who invest in stocks and other kinds of financial assets, there's a wealth divide — and it's growing.

• That's worth noting at a time when more regular folks are putting their money in markets, while those who aren't invested are seeing the value of their incomes erode with higher inflation.

What they found: Last year, for the second year running, the ultrarich saw bigger gains in wealth than "the millionaires next door," as Capgemini calls them, with lower net worth.

• The report estimates net worth around the world using data from the World Bank and the Economist Intelligence Unit, as well as national government statistics, counting anyone with investable assets of at least $1 million as having a high net worth. (That number doesn't include an individual's primary residence.)

Zoom in: Globally, ultra-high-net-worth individuals, those with $30 million or more in investable assets, saw their wealth increase nearly 10%.

• The so-called "millionaires next door," with $1 million to $5 million, had growth of less than 8%.
• Ultra-high-net-worth individuals make up just 1% of the high-net-worth population, but hold 34.8% of the total wealth.

Zoom out: The super rich have more access to higher-returning private equity and hedge funds and have been able to invest in private companies, especially the big AI hyperscalers.

• They've also seen disproportionately higher returns from the stock market, the report finds.
• These folks have the "ability to get early entries that even the next-door millionaires can't get," says Luca Russignan, global head of Capgemini Research Institute for Financial Services.

The big picture: The AI boom was the main driver overall for rich people's wealth last year, he says.

Between the lines: The general public may soon get access to those same assets, particularly through mega-IPOs later this year, but likely won't see the same kind of returns that early-stage investors get.

By the numbers: Overall, globally, the wealth of high-net-worth individuals rose 8.7% in 2025 — hitting a record $98.3 trillion.

• The number of these rich folks increased by about 2 million, to 25.3 million
• The U.S. added 736,000 new millionaires last year, more than any other market globally.

The bottom line: More regular folks are investing in the stock market and other financial assets, but the benefits of doing so vary widely.