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One percent of Germans 'own 30 percent of country's wealth', new study reveals

October 23rd 2019

By The Local.de

A new global wealth report has highlighted stark inequalities in Germany – and revealed the number of millionaires.

Credit Suisse' annual global wealth report revealed that the number of millionaires across the world grew to nearly 47 million last year and they now own close to half the world's wealth.

The United States still leads the world in total number of millionaires. The US added 675,000 new millionaires over the past year, bringing its total to a staggering 18.6 million.

In Germany the number is far fewer, albeit the number of millionaires in the country has jumped by 95.7 percent between 2010 and 2019.

Germany now has 2.2 million millionaires, which equates to 16% of the total number from Europe.

Credit Suisse said Germany now ranks fourth in the world according to total wealth, behind Japan and ahead of the UK. In terms of wealth per adult, it is in 19th place alongside Italy and Taiwan.

“The proportion of adults in Germany with wealth less than 10,000 is 41 percent, while at the top end, the proportion with assets over $100,000 is almost four times the global figure,” the report said. “Overall, Germany hosts 2.2 million millionaires, which equates to 16 percent of the total number from Europe.”