Around 5,000 ultra-wealthy individuals own more than a quarter of Germany’s financial assets, according to a study published on Wednesday by consulting firm Boston Consulting Group (BCG).
The number of people in Germany with assets exceeding $100 million rose by about 1,100 in 2025 from a year earlier, the Global Wealth Report found. Together, they hold $3.4 trillion of Germany’s $12.4 trillion in financial wealth, or 27.3%.
BCG said the ultra-rich benefited particularly from gains on equity markets last year and forecast their share of German financial wealth would rise to 29% by 2030.
“The concentration of wealth at the top continues to increase – those who have more can diversify more widely and invest in higher-yielding asset classes such as equities or private equity,” said Michael Kahlich, a BCG partner in Zurich and co-author of the study said.
At the other end of the scale, around 66 million people in Germany hold financial assets of less than $250,000, accounting for 35.9% of total financial wealth. More than 700,000 multimillionaires, together with the roughly 5,000 ultra-rich individuals, control more than half of Germany’s financial assets, the study found.
Germany’s total net wealth rose around 15% in 2025 to $23.3 trillion, driven largely by an almost 18% increase in financial assets due to strong stock markets. Real assets, primarily property, rose to $13.4 trillion and accounted for more than half of total wealth, while debt edged up slightly to $2.5 trillion.
Kahlich said Germans remained cautious investors, with deposits and cash still dominating household wealth, although exchange-traded funds, equities and other capital market investments were steadily gaining importance. However, weak economic growth, an ageing population and Germany’s relatively limited equity investment culture were weighing on wealth creation.
