Germany: Home to Almost 4,000 Ultra-Rich, Holding a Quarter of Country's Wealth
Over four thousand wealthy individuals reside in Germany
Germany's ultra-wealthy population has seen a significant surge, with around 3,900 individuals boasting over $100 million in financial assets. This elite demographic controls a substantial part of the nation's total financial wealth, pegged at approximately $3 trillion.
The consulting firm BCG reports that the number of Germany's ultra-wealthy has expanded by 500 individuals over the past year, and their wealth has increased by 16%. This expansion in wealth is primarily invested in real estate, other tangible assets, bank deposits, securities, pensions, and cash.
27% of this combined wealth, estimated at $2.99 trillion, belongs to the ultra-wealthy, while liabilities, mostly in the form of loans, account for $2.2 trillion, resulting in a gross wealth of $770 billion.
The total gross wealth in Germany in 2024 is anticipated to be $22.9 trillion, or roughly $20 trillion at current exchange rates, according to BCG's wealth experts. The year 2024 was a prosperous one for Germany's wealthy, not just the extremely affluent: the number of dollar millionaires increased by 65,000, reaching 678,000.
Germany ranked third worldwide in terms of ultra-wealthy individuals in 2024, with the U.S. and China ranking first and second respectively.
The UHNWI (ultra-high-net-worth individual) population represents a minuscule percentage of the global population, accounting for fewer than 0.003%. However, they control more than a third of the world's privately held wealth. The UHNWI population in Western Europe, which includes Germany, has an average wealth per adult of approximately $287,688.
Germany's robust economic standing suggests a substantial UHNWI presence. Global wealth grew by 4.6% in 2024, leading to a significant increase in the number of millionaires worldwide. Over 680,000 new millionaires were added in 2024, with more expected in the coming years.
In summary, the growth in wealth among Germany's ultra-wealthy corresponds to broader global patterns of wealth accumulation among the elite. The concentration of wealth continues to be a prominent feature, with complex wealth management infrastructure and cross-border strategies increasingly common among these individuals.
- The growth in wealth among Germany's ultra-wealthy, primarily invested in various assets such as real estate, securities, and cash, aligns with the increase in personal-finance among the elite, as reported by BCG's wealth experts.
- Given the substantial wealth-management practices of Germany's ultra-rich, it's likely that community policy discussions may involve topics such as business investments, financial planning, and wealth preservation strategies.
