The number of millionaires in Germany has increased significantly

D.The number of millionaires around the world, including Germany, has continued to grow over the past year, but inflation and the aftermath of the war are now causing problems for great fortunes as well. This was reported by the management consulting firm Capgemini in its annual “World Wealth Report”. Based on this, the number of people in Germany who own investable assets equivalent to one million dollars or more (excluding owned real estate, collections and consumables) increased 6.4% from the previous year to 1,633. 000. The wealth of the millionaires combined has increased even faster than their number, which is 7.4 percent.

America has the largest number of millionaires

Worldwide, the number of millionaires increased by 7.8 percent to 22.5 million. The largest group of them live in the United States, which also saw the largest increase of 13.2% to 7.9 million. The country with the second largest number of millionaires is Japan with 3.6 million, ahead of Germany with 1.6 and China with 1.5 million.

“But it’s only a matter of time before China overtakes Germany,” says Capgemini’s Klaus-Georg Meyer. For example, the number of millionaires declining in Hong Kong and Brazil.

The wealthy benefit from higher real estate prices

For the first few months of this year, Capgemini estimates that the aftermath of the war, inflation and stock market losses caused the fortunes of global millionaires to shrink by 4%.

The management consulting firm attributes the rise in the number of millionaires in Germany last year despite the pandemic to various factors: Germany’s gross domestic product continued to grow despite the crown measures. However, many millionaires would also have benefited from the further increase in property prices, especially in metropolitan areas. Capgemini also refers to last year’s high savings rate: many Germans, especially wealthy ones, were able to spend less money on vacation or shopping than usual because of Corona.

According to the study, wealthy Germans have changed less in their investment behavior over the past year than previously thought. The millionaires surveyed were slightly less invested in stocks and bonds than in the previous year, but slightly more in real estate and alternative investments.

However, there are some notable trends, Meyer reports: A significantly larger group of millionaires than ever before are interested in sustainable investing. 55 percent of millionaires called this “a key problem”.

And digital investments have also become much more important to millionaires: a proud 71% said they have already invested in digital assets, 39% directly in cryptocurrencies. Meyer said: “The last few months have been bloody for these investors – many have had to lose their feathers.”

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