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More millionaires in Germany: the wealth of the rich has increased significantly

Status: 06/14/2022 09:27

According to a study, the “Millionaires Club” continued to grow in Germany last year. The boom in stock markets and rising property prices have ensured this.

The rich got richer around the world last year. According to estimates by consulting firm Capgemini, the number of dollar millionaires grew significantly in 2021, both globally and in Germany. The annual World Wealth Report includes stocks, fixed income, alternative investments such as private equity, cash and real estate that are not used by the individual.

100,000 new millionaires

The economic recovery of the past year has clearly benefited the wealthy around the world. This is the result of the consultancy company’s calculations. There are now 1.63 million people in Germany with investable assets of at least one million dollars. About 100,000 people have risen to this level in Germany. According to the report, millionaires around the world increased their wealth by 8% in 2021 for a record total of $ 86 trillion.

“Things are steadily improving as we look at the past few years,” commented Capgemini expert Klaus-Georg Meyer. The total wealth of dollar millionaires in Germany jumped 7.4% to about $ 6.3 trillion last year. Above all, higher stock prices, but also a higher savings rate and the housing boom were the main reasons for this.

Much of the total assets

The wealth of millionaires in Germany makes up a large part of the total wealth of private households in this country. According to the Bundesbank, the financial assets of private households in Germany amounted to around € 7.61 trillion at the end of last year. These statistics include cash, bank deposits, securities such as stocks and funds, and claims on insurance companies, but not real estate.

Last year, Germany remained third on the list of countries with the most dollar millionaires. The United States (7.46 million millionaires) and Japan (3.65 million millionaires) are in the lead. China follows just behind Germany in fourth place with 1.54 million rich. The four countries make up nearly two-thirds (63.6%) of all dollar millionaires in the world.

The “super rich” win even more

The richer a person is, the faster his wealth grows: this thesis seems to be confirmed by looking at the super rich in the world. Because the strongest growth globally has been achieved by the “super rich” with investable assets of at least $ 30 million. The number of the super rich increased 9.6 percent to around 220,000.

The asset growth of millionaires, however, was severely curbed in the first months of the current year. This is mainly due to falling prices on global stock markets. According to Capgemini, the wealth of people with investable assets of at least $ 1 million has declined by about 4% worldwide from the end of last year to the end of April 2022. Inflation and a possible global recession do not spare either. fortunes of the rich.

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