"Above-average unequal": The super-rich own almost a quarter of all financial assets in Germany

Tagesspiegel "Above-average unequal": The super-rich own almost a quarter of all financial assets in Germany 3 hours • 2 minutes reading time They have more than 100 million dollars: According to a study, Germany is in third place worldwide with more than 3,000 super-rich people. And they will become even richer in 2023. The so-called super-rich own almost a quarter of all financial assets in Germany. According to a study published on Wednesday by the Boston Consulting Group (BCG), there are 3,300 super-rich people in this country, i.e. people with more than 100 million dollars in financial assets. Last year they owned 23 percent of all financial assets - the share increased by one percentage point compared to the previous year. In Germany, the distribution of wealth is therefore "above-average unequal". In addition to the super-rich, there are around 555,000 dollar millionaires in this country, 30,000 more than a year ago. On the other hand, there are 66.5 million Germans who have less than $250,000 in financial assets - they own 42 percent of all financial assets in the country. Most of the super-rich live in the USA and China The study authors expect the trend to intensify in the next five years. They expect that the super-rich will then account for around 26 percent of all financial assets. The higher the assets, the higher the increases in Germany have been recently. According to the study, the super-rich were able to record an average increase of ten percent. In the group of people with assets of one to five million euros, the increase was just over five percent. Those who had financial assets of zero to $250,000 were able to record an average increase of 1.5 percent - i.e. below the inflation rate. According to the Global Wealth Report, most of the super-rich live in the USA - there are 26,000 there. China follows in second place with 8,300 super-rich people. Germany is already in third place with its 3,300 super-rich people. The USA continues to top the ranking of financial assets with 119 trillion dollars, followed by China with 33 trillion dollars and Japan with 15 trillion. According to the report, there were 73,000 super-rich people worldwide, 7,000 more than a year ago. According to the BCG report, global net assets rose by four percent to 477 trillion dollars last year. Financial assets, i.e. cash, account balances, bonds, stocks, investment funds and pensions, increased by seven percent to 275 trillion dollars. In Germany, financial assets grew by five percent in 2023. (AFP)