Global Wealth Dynamics: Switzerland Leads in Average Wealth Per Person While the US Has Most Billionaires

The United States boasts the highest number of billionaires globally, while Switzerland leads in average wealth per person. Germany also ranks prominently in these metrics. According to the latest Global Wealth Report by Boston Consulting Group (BCG), Germany is home to around 3300 billionaires. In contrast, the USA has approximately 26,000, reflecting an increase of 300 from the previous year. China holds the second spot with about 8300 billionaires.

German billionaires control nearly 23% of the nation’s total wealth, encompassing assets like cash, checking accounts, bonds, stocks, investment funds, and pensions, excluding real estate and physical assets. Wealthier individuals tend to see higher returns, partly because they invest more in capital markets, unlike less affluent individuals who prefer safer, lower-yield assets like savings accounts and insurance.

BCG’s report covers 97 markets, representing 98% of the global GDP, and incorporates data from over 100 wealth managers. It reveals that the total wealth of affluent Americans is approximately 119 billion US dollars, making the USA the global leader. China and Japan follow with 33 billion and 15 billion US dollars, respectively. Germany’s total wealth stands at 2.1 billion US dollars, contributing to a global total of 275 billion US dollars.

On a per capita basis, Switzerland tops the list, with the average Swiss adult holding a net worth of 709,612 US dollars. The USA is fourth with 564,862 US dollars per adult, while Germany ranks 17th with 264,789 US dollars per adult. However, median wealth tells a different story: Switzerland ranks seventh with a median of 171,035 US dollars per adult, and Germany doesn’t appear in the top 25. Luxembourg leads with a median wealth of 372,258 US dollars per adult.

The UBS wealth report indicates that in several countries, including the United Arab Emirates, Germany, Switzerland, Israel, and Mexico, wealth has grown more substantially among lower wealth classes compared to the average since 2008. This trend suggests a broader distribution of wealth within these economies.

Both the BCG and UBS reports agree that global wealth continues to rise, albeit more slowly than in the early 2000s. Negative wealth growth between 2010 and 2023 was observed only in Greece, Japan, Italy, and Spain. Despite the ongoing accumulation of wealth by the super-rich, there’s a notable increase in wealth among lower-wealth classes in certain countries, pointing to a more inclusive economic growth.

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