Sharp rise in number of Swiss multimillionaires
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.
In compliance with the JTI standards
More: SWI swissinfo.ch certified by the Journalism Trust Initiative
You can find an overview of ongoing debates with our journalists here. Please join us!
If you want to start a conversation about a topic raised in this article or want to report factual errors, email us at english@swissinfo.ch.