Market News

Wealth inequality across and within Europe remains stark, as shown by several indicators. According to the European Central Bank's latest report, published in 2023, the median net wealth of households in the euro area stood at €123,500. However, this ranged from just €2,000 for the bottom 20% of the population to €1.01 million for the top 20%.

At the same time, the ranks of the ultra-rich are growing rapidly across the continent. The number of people with at least $30 million (€25.7m) in wealth rose by 26% over the past five years. Knight Frank's Wealth Report 2026 classifies them as ultra-high-net-worth individuals (UHNWIs).

Their number increased from 146,525 in 2021 to 183,953 in 2026.

Over the five-year period, 37,428 people joined this exclusive group. That translates into an average increase of 7,486 members a year, or roughly 20.5 new entrants every day across Europe.

In Germany, five people join the ultra-rich every day

Germany has the highest daily increase in the number of people joining the $30m+ wealth club in Europe.

The number of UHNWIs in the country rose from 28,942 in 2021 to 38,215 in 2026, an increase of 9,273 over five years.

In other words, every day, five people in Germany cross the $30 million wealth threshold on average. Of course, they do not accumulate that wealth in a single day; rather, their assets gradually grow until they pass the benchmark.

Germany, Europe's largest economy, ranks third globally by GDP, after the US and China, according to the IMF.

In Switzerland, the number of ultra-rich individuals has increased by the equivalent of 2.7 people a day. Over the past five years, their number has grown by 4,968, bringing the total to 17,692.

France adds two new members every day

Between 2021 and 2026, France added an average of 2.1 new members to its $30m+ wealth club each day. The country's UHNWI population increased by 3,781 to reach 21,518.

Other major European economies follow closely behind. The daily increase stands at 1.6 in both the UK and Italy, followed by Spain at 1.5. In Turkey, the figure is 1.1.

Of these seven countries, five are among Europe's largest economies. Switzerland and Turkey are the only other countries in the region where the number of people with at least $30 million in wealth rises by at least one person a day on average.

The daily increase is 0.9 in Poland, 0.5 in both Czechia and Austria, 0.4 in Denmark and Portugal, and 0.3 in the Netherlands, Ireland and Sweden.