The super-rich own almost a quarter of all financial assets in Germany
Called "Super-rich," these individuals in Germany hold nearly a quarter of the entire financial wealth. According to a study published on a Wednesday by the Boston Consulting Group (BCG), there are approximately 3300 Super-rich people in Germany; these are individuals with more than 100 million dollars in financial wealth. They held 23% of the total financial wealth last year, marking a one percentage point increase from the previous year.
According to the Global Wealth Report from BCG, wealth distribution in Germany is "above average unequal." In addition to the Super-rich, there are reportedly about 555,000 dollar-millionaires in the country, which is 30,000 more than the previous year. On the other hand, there are approximately 66.5 million Germans who own less than 250,000 dollars in financial wealth, accounting for 42% of the total financial wealth in the country.
The study authors anticipate that this trend will intensify in the next five years, expecting the Super-rich to own approximately 26% of the total financial wealth.
The higher the wealth, the greater the recent growth in Germany. According to the study, the Super-rich experienced an average growth of ten percent. In the group with a fortune between one and five million euros, the growth was reportedly slightly above five percent. Those with zero to 250,000 dollars in financial wealth could only achieve a growth of 1.5 percent on average - below the inflation rate.
The majority of Super-rich live in the United States, with approximately 26,000. China ranks second with 8300 Super-rich individuals. Germany ranks third with its 3300 Super-rich.
The BCG study predicts that the Super-rich in Germany will owns approximately 26% of the total financial wealth within the next five years. Despite the above-average wealth inequality in Germany, individuals who are classified as Super-rich, holding over 100 million dollars in financial assets, accounted for a quarter of the total financial wealth last year.
