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Wealthy nation Sharp rise in number of Swiss multimillionaires

Rich woman wearing fur coat

Since 2000, average wealth per adult in Switzerland has risen by 130%, largely due to the appreciation of the Swiss franc against the US dollar between 2001 and 2013, according to the Swiss bank Credit Suisse

(Keystone)

The number of multimillionaires in Switzerland – people with net assets of over $5 million (CHF4.7 million) – rose by 13% in 2017 compared with the previous year, a new report has found. 

The KnightFrank 2018 Wealth Reportexternal link published on Tuesday said there were 52,950 multimillionaires in Switzerland last year, up from 47,000 the year before. By 2022, this figure is expected to rise to 64,000. Worldwide there are thought to be around 2.5 million multimillionaires. The biggest rise last year was in Russia.

+ Read why Switzerland is attractive to wealthy foreigners

The number of Swiss residents with net assets of over $50 million also increased by +13% to 3,710, and there are an estimated 250 people in Switzerland with net assets of over $500 million. Globally, there are around 6,900 such high-net-worth individuals. Russia and neighbouring countries again saw the biggest growth in this segment. 

According to a 2017 report by the German-language business magazine Bilanz, the 300 richest residents of Switzerland have assets totalling CHF674 billion. 

italics

Correction

A previous version of this article mistakenly indicated that the findings were based on an individual's net income. They are based on net assets. We regret the error.

 

SDA-ATS/sb

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