SWI swissinfo.ch: Sharp rise in number of Swiss multimillionaires

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Sharp rise in number of Swiss multimillionaires

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This content was published on March 13, 2018 2:09 PMMar 13, 2018 - 14:09
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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 earning over $5 million (CHF4.7 million) a year – 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 earning over $50 million a year also increased by +13% to 3,710, and there are an estimated 250 people in Switzerland earning over $500 million annually. 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. 

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"Jake commented on the content at 13 March 2018 18:26".
Jake 13-Mar-2018 18:26
Oh the decline of journalism... Net Worth is the value of a person's assets, not their income in a year. All of the statistics above are related to Net Worth (5M+, 50M+), not annual income (which would be a far different story).
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