Million earneys - More and more income millionaires in Saxony
In Saxony, the number of people earning one million Euros or more per year is increasing. According to the Statistical Office in Kamenz, the number of income millionaires in 2019 was 476. In the previous year, there were 427. New figures were not yet available from the Statistics Office due to lengthy tax procedures.
The number of exceptionally high earners has been steadily increasing over the years. In 2016, there were 329 income millionaires in Saxony, while in 2010 there were only 178.
Most high earners in Dresden and Leipzig
Of the 476 top earners in 2019, 100 lived in the state capital Dresden. In Leipzig, 93 people earned income of one million Euros or more, and in Chemnitz, 32 did.
Measured against the approximately two million taxpayers in Saxony, the number of income millionaires is relatively low. And in comparison to other federal states, fewer high earners live in Saxony.
Highest millionaire density in Hamburg and Bavaria
In relation to the number of unlimited income taxpayers, Hamburg has the highest millionaire density: 12 of every 10,000 income taxpayers in Hamburg earned income of one million Euros or more in 2019, according to the Federal Statistics Office. In Bavaria, the figure was 9 per 10,000. In Saxony, this value is 2.
In terms of absolute numbers, Bavaria leads the federal state ranking with 6,365 people who had to pay taxes on income of one million Euros or more. Followed by North Rhine-Westphalia (5,959) and Baden-Württemberg (4,521). Nationwide, there were approximately 27,400 income millionaires in Germany in 2019, according to the Federal Statistics Office.
In Saxony, the city of Dresden and Leipzig have the highest number of high earners among the population, with 100 and 93 income millionaires respectively in 2019. The population of Kamenz, where the Statistics Office is located, saw an increase in income millionaires from 427 in 2018 to 476 in 2019. Despite this growth, Hamburg and Bavaria have higher millionaire densities, with 12 and 9 high earners per 10,000 income taxpayers respectively in 2019, according to Statistics from the Federal Statistics Office.
