BERLIN (DPA, CONVERSEER) – Around 3,900 ultra-wealthy people in Germany – each with financial assets over $100 million – now own more than a quarter of the country’s total financial wealth, according to a new report from management consultancy Boston Consulting Group (BCG).
Together, their assets amount to just under $3 trillion.
The number of Germany’s super-rich, or high-net-worth individuals (UHNWI), grew by 500 last year, boosted by a 16% increase in their wealth, largely thanks to gains on international stock markets, according to BCG data.
BCG estimates Germany’s total gross wealth in 2024 at $22.9 trillion.
Of this, $11.8 trillion is invested in real estate and other tangible assets, while $11.1 trillion consists of pure financial assets such as bank deposits, securities, pensions and cash.
The super-rich own 27% of these financial assets – around $2.99 trillion. However, this wealth is balanced against liabilities totalling $2.2 trillion, mostly loans.
The number of dollar millionaires increased by 65,000 to 678,000. Yet, as BCG points out, wealth growth tends to slow down the further down the economic ladder you go.
BCG, headquartered in the United States with offices in over 50 countries, releases an annual Global Wealth Report that tracks global wealth trends.
According to the report, Germany ranks 2024 third worldwide in the number of ultra-wealthy individuals, behind the US, with 33,000 super-rich, and China, with 9,200.