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Wealth: Almost 3,000 ultra


They own more than 100 million dollars and are growing: According to a new study, there are 2,900 ultra-rich in Germany, the third highest number in the world. Your wealth increases - despite Corona.

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Villas on the Hamburg Elbe beach Övelgönne

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There is again a lot of debate about high wealth these days.

In Germany, the SPD, the Left and the Greens are demanding the reintroduction of the wealth tax before the election in order to cover the costs of the corona crisis.

In the United States, President Joe Biden was just getting new arguments for his plans to raise taxes for the wealthy.

Pierced figures show that the tax rates of Amazon founder Jeff Bezos or investor legend Warren Buffett were at times below one percent.

Bezos is considered the richest man in the world, Buffet is only a few seats behind him.

Both easily qualify as

ultra-high-net-worth individuals


This is what the management consultancy Boston Consulting Group (BCG) calls people with personal financial assets of more than 100 million US dollars.

Of the around 60,000 ultra-rich worldwide, 20,600 live in the USA alone, with China taking second place with 7,800. Germany follows in third place, with around 2,900 ultra-rich. That comes from the new Global Wealth Report from BCG, which is published on Thursday. According to this, there were around 170 ultra-rich in Germany alone in 2020, and more than 6,000 worldwide.

For Germany and the rest of the world, the study confirms a trend that was already apparent last year: the rich get through the corona crisis without any problems.

According to BCG, global wealth grew "surprisingly strong," and now, including debt, adds up to a record $ 431 trillion.

On the one hand, the increase was due to stock markets, which recovered rapidly from the corona crash.

On the other hand, significantly more money was saved, and net savings rose by eleven percent.

The gigantic figure includes, on the one hand, financial assets of 250 trillion dollars, which consist of cash, account balances, bonds, shares in companies and funds, pensions and life insurance.

In addition, there are 235 trillion in tangible assets - as well as real estate, cars, jewelry and gold.

"Traditionally, Germans prefer to invest in real estate rather than in securities, as the real value quota of almost 60 percent clearly shows," says study author and BCG partner Anna Zakrzewski.

Private financial assets in the Federal Republic grew by around six percent and real assets by five percent.

After deducting debts, private households in the Federal Republic have total net assets of almost 20 trillion US dollars.

The German ultra-rich alone own 20 percent of total wealth.

That is significantly more than in Western Europe (16 percent) and worldwide (13 percent).

If you subtract components such as pensions or life insurance, you get investable assets of $ 1.4 trillion, which according to BCG could grow by another $ 400 billion by 2025.

Proponents of higher taxes on wealth are likely to feel vindicated by such figures. From BCG's point of view, however, they primarily mark a growing market - after all, the ultra-rich usually employ financial advisors. According to the study, however, they have to consider regional differences: While two thirds of US ultras would have earned their wealth themselves, inherited wealth made up almost half of Europe's mega-wealth. In China, which is likely to become the country with the most ultras by the end of the decade, a particularly large number of first-generation ultra-rich are said to be.

Quotes in the report suggest that dealing with the clientele is not that easy. "Most of the suggestions I see are rubbish," says a 34-year-old from Texas about financial advisors. "Why should I give this person millions of dollars?"

Source: spiegel

All business articles on 2021-06-10

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