The Swiss are the richest per capita
In no place do more billionaires reside than in the USA, and nowhere do people have a higher average wealth than in Switzerland. Germany ranks high in both analyses as well. According to the latest Global Wealth Report by Boston Consulting Group (BCG), approximately 3300 Germans are billionaires. The USA has about 26,000, an increase of 300 from the previous year. China follows with 8300 billionaires.
The 3300 billionaires in Germany hold nearly a quarter (23%) of the total wealth. This includes cash, checking accounts, bonds, stocks, investment funds, and pensions. Real estate, precious metals, and other physical assets are not included.
The BCG authors write, "The report shows: The higher the initial wealth of an individual, the higher the returns." Wealthy investors had a higher percentage of their wealth in the capital market. "Less affluent individuals typically invest in less risky asset classes like savings accounts, cash, or insurance - at the expense of returns."
For their report, the BCG authors analyzed 97 markets, which account for 98% of the global Gross Domestic Product (GDP). They used data from over 100 wealth managers in their research.
Switzerland at the Top
The total wealth of all wealthy Americans now amounts to 119 billion US dollars, making it the global leader. China follows with 33 billion US dollars, and Japan with 15 billion US dollars. Germany's total wealth amounts to 2.1 billion US dollars, and the global total is 275 billion US dollars.
However, per capita, the Swiss rank at the top of the wealthiest people, according to a new wealth report from Swiss bank UBS: The average Swiss adult has a net worth of 709,612 US dollars. The USA ranks fourth with 564,862 US dollars per adult. Germans rank 17th with an average net worth of 264,789 US dollars per adult.
Considering the median wealth, however, Switzerland and Germany perform much worse. Switzerland ranks seventh with a median wealth of 171,035 US dollars per adult. Germany falls completely out of the top 25. The median represents the value that separates the higher half from the lower half of the data set; in this case, 50% of the population has more wealth, and 50% has less. Luxembourg ranks best with a median wealth of 372,258 US dollars per adult.
Poorer People Catching Up?
The report shows: The higher the initial wealth of an individual, the higher the returns. Wealthy investors had a higher percentage of their wealth in the capital market. Less affluent individuals typically invest in less risky asset classes like savings accounts, cash, or insurance - at the expense of returns.
For their report, the BCG authors analyzed 97 markets, which account for 98% of the global Gross Domestic Product (GDP). They used data from over 100 wealth managers in their research.
During the Super Rich, according to BCG-Report, continue to get richer, but the median wealth, according to UBS report, shows a different development: The authors of UBS write that in the United Arab Emirates, Germany, Switzerland, Israel, and Mexico, wealth has grown more strongly than the average wealth since 2008.
This indicates that the wealth of adults in lower wealth classes has risen faster than in higher wealth classes.
In one point, both reports agree: Global wealth continues to grow further, although significantly slower than at the beginning of the century. A negative wealth growth between 2010 and 2023 is only observable in Greece, Japan, Italy, and Spain according to UBS.
UBS, in their recent wealth report, highlights that despite the Super Rich continuing to accumulate wealth, there's a noticeable trend in countries like the United Arab Emirates, Germany, Switzerland, Israel, and Mexico, where the wealth of lower-wealth classes is growing faster than the average wealth since 2008. This suggests that the economy is allowing for a broader wealth distribution.
Moreover, UBS mentions that German billionaires, who make up about 23% of the global billionaire wealth, primarily invest in capital markets for higher returns, while less affluent individuals often invest in less risky assets with lower returns.
