In Germany, 3300 super-rich people own 23 percent of total financial assets
In Germany, wealth distribution, according to BCG's Global Wealth Report, is "above average unequal." Additionally, there are approximately 555,000 millionaires in the country, which is 30,000 more than last year. On the other hand, there are reportedly 66.5 million Germans who have less than 250,000 dollars in financial assets - they own 42% of the total financial assets in the country.
The study authors expect this trend to intensify in the next five years. They anticipate that the super-rich will then own approximately 26% of the total financial assets.
The higher the wealth, the greater were the recent growth rates in Germany. According to the study, the super-rich were able to achieve an average growth of ten percent. In the group of people with a fortune of one to five million euros, the growth rate was reportedly around five percent. Those with zero to 250,000 dollars in financial assets were able to achieve a growth of 1.5 percent on average – below the inflation rate.
According to the Global Wealth Report, most super-rich people live in the USA - there are 26,000 of them. China ranks second with 8,300 super-rich individuals. Germany ranks third with its 3,300 super-rich.
At the top of the wealth rankings are still the USA with 119 trillion dollars, followed by China with 33 trillion dollars and Japan with 15 trillion dollars. Globally, there were 73,000 super-rich individuals and 7,000 more than last year, according to the report.
According to the BCG report, global net wealth increased by four percent to 477 trillion dollars last year. Financial assets, i.e. cash, bank deposits, bonds, stocks, investment funds, and pensions, grew by seven percent to 275 trillion dollars. In Germany, financial wealth therefore grew by five percent in 2023.
- If you're seeking expert advice on wealth distribution trends, BCG's Consulting services might provide valuable insights, particularly in countries like Germany where inequality is high.
- Despite being one of the super rich, managing your financial assets effectively can still yield significant returns, with an average growth of 10% reported in Germany.
- The upcoming years are expected to see a further shift in wealth distribution, with the super rich potentially controlling around 26% of Germany's total financial assets, as predicted by BCG.
- BCG's report indicates that Germany has around 3,300 super rich individuals, trailing behind the USA with 26,000 and China with 8,300 in this category.
- As part of their wealth management strategies, some super rich individuals may consider diversifying their assets beyond their domestic market, like investing in financial assets in countries like China or the USA.
- To make an informed investment decision, it's essential to keep up-to-date with global financial trends, as reported by agencies such as BCG, which highlighted a 7% increase in financial assets globally.
