Growing Accumulation of Wealth among Few Individuals
Frankfurt am Main: Millionaires Galore, but Fortunes Fluctuate
Money, money, money. That's the tune in Frankfurt am Main as the count of hefty pockets swells to new heights. A newly published study by Capgemini reveals an astounding rise in the number of 1-million-dollar-plus wallets globally, ending 2024 at an impressive 23.4 million individuals.
The increase is mostly fueled by the rising ranks of ultra-wealthy individuals, those sporting more than 30 million dollars. The "World Wealth Report" paints the picture, as the total wealth of the millionaires climbed by a whopping 4.2 percent to a staggering 90.5 trillion US dollars.
The US takes the cake in this wealth chase, sprouting an additional 562,000 millionaires, a growth of 7.6 percent. The country now boasts a near eight-million-strong millionaire army, mainly thanks to a rollercoaster ride on the stock market and friendly interest rates, per the report that surveys 71 countries worldwide.
Europe, on the other hand, experiences a slight downturn with a 2.1 percent drop in the number of millionaires due to economic stagnation in major economies. France feels the pinch the hardest, shedding about 21,000 millionaires in a year. Surprisingly, Germany retains its throne at the number three spot among countries with the most dollar millionaires. However, the Land of Beer, Bratwurst, and BMWs also saw a decrease of roughly 40,000 millionaires in a year.
In contrast, the number of ultra-high-net-worth individuals in Europe increases by 3.5 percent, echoing a burgeoning concentration of wealth. This trend is reflected worldwide, with a 6.2 percent surge in the number of people in this category. They owe their good fortune to strong stock markets, according to the study. Alternative investments, including cryptocurrencies, now make up 15 percent of the portfolios of the ultra-wealthy, consider stocks, bonds, private equity, cash, and non-owner-occupied real estate.
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In the Asia-Pacific region, the number of millionaires surges by 2.7 percent, with wide-ranging differences within the region. The millionaire classes of India and Japan are thriving, reporting growth rates of 5.6 percent in both countries. In sharp contrast, the millionaire cadre in China shrinks by one percent.
Wealthy Latin America fights a losing battle, with a 8.5 percent decline due to currency devaluations and fiscal instability. Brazil (-13.3 percent) and Mexico (-13.5 percent) take the hardest hits. The millionaire population in the Middle East also slips by 2.1 percent due to falling oil prices.
The report encompasses 71 countries, contributing to more than 98 percent of global GDP and 99 percent of global market capitalization. The study includes responses from ten markets, as well as estimates from wealth management firms, universal banks, and independent securities dealers. Additionally, 6,472 millionaires were polled about their investment strategies in early January. Politics and debates about taxing the highest earners have heated up in recent years as income disparities widen.
Estimated Millionaire Counts in Key Countries (as of 2025)
- United States: 24.5 million
- China: 6.2 million
- Japan: 3.4 million
- United Kingdom: 2.8 million
- France: 2.8 million
- Germany: 2.7 million
- Canada: 2.3 million
- Australia: 2.2 million
- Italy: 1.4 million
- South Korea: 1.3 million
Note: Exact numbers and rankings might vary slightly between sources due to different methodologies and assumptions. However, reliable estimations position Germany around the 3rd to 6th place in the global millionaire ranking, with recent reports indicating a downward trend compared to the previous year.
In the context of fluctuating fortunes among millionaires in Frankfurt am Main, there's an growing interest in personal-finance matters and wealth-management strategies amid a surge in the number of millionaires globally. Notably, investing and finance play crucial roles in sailing through the economic waves, with the ultra-wealthy utilizing various investment avenues like stocks, cryptocurrencies, and alternative investments to safeguard and grow their wealth.
