The Wealth-X Analytics team is able to complement our flagship reports with a more detailed look at wealth in individual countries around the world. To begin our country-specific wealth series, we are taking a closer look at wealth in Germany, which is Europe’s largest and the world’s fourth biggest wealth market.
Germany is home to over 1 million high net worth (HNW*) and almost 16,000 ultra high net worth (UHNW) individuals. It ranks third for the number of billionaires, behind just the US and China. The number of wealthy has grown moderately in recent years, following the tapering of strong economic growth through 2017 and weakening equity markets in 2018. Interestingly, both the UK and France have a higher number of wealthy individuals per capita than Germany.
Many ultra wealthy individuals have made their wealth in Germany through a combination of inheritance and their own efforts, a far higher proportion than the global average where self-made wealth creation alone is the main source. This combination points to the important role that family-owned businesses have in the economy. The ultra wealthy also tend to be slightly older than the global average.
Read more about the global high net worth population here.
METHODOLOGY
Wealth-X proprietary data assets empower our clients with both a top-down and on-the-ground understanding of the wealthy.
To size and forecast the wealthy population and its combined wealth, Wealth-X Analytics leverages our Wealth and Investable Assets Model. This model produces statistically significant estimates for total private wealth and estimates the size of the population by level of wealth and investable assets for the world, for each of the top 75 economies, and for over 100 of the world’s major cities.
To profile the characteristics of the wealthy, we use our unique and proprietary Wealth-X Database, the world’s largest collection of records on wealthy individuals from around the globe. Each Wealth-X Dossier provides insights into an individual’s financial profile, career history, known associates, affiliations, family background, education, philanthropic endeavors, passions, hobbies, interests and much more.
Wealth-X partners with prestige brands across the financial services, luxury, not-for-profit, and higher-education sectors to fuel strategic decision-making in sales, marketing and compliance.
*Those with $1m+ in net worth
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For enquiries, please contact contact@wealthx.com.