The race to the top: Europe's ultra-rich and their growing ranks
The ultra-rich are getting richer, and Europe is no exception. The continent is witnessing a rapid increase in the number of people with at least $30 million in wealth, according to various reports. This trend is particularly striking in Germany, where five people join the ultra-rich club every day, and in Switzerland, where the equivalent of 2.7 people a day are added to the ranks.
France, another major European economy, is not far behind, with an average of 2.1 new members joining the $30m+ wealth club each day. The UK and Italy are also seeing a steady increase, with a daily increase of 1.6 and 1.5, respectively. Spain is not far behind, with 1.5 new members joining the club daily.
However, it's not just Europe that is experiencing this trend. The US is home to the largest number of people with at least $30 million in wealth, with 251,352 UHNWIs in 2026. China ranks second with 121,677. India and Australia are the only other non-European countries in the global top 10.
The global number of UHNWIs increased by 162,191 between 2021 and 2026, equivalent to 89 new members every day. This brings the global total to 713,626.
According to Liam Bailey, global head of research at Knight Frank, "We are witnessing one of the most significant shifts in global wealth distribution in modern history. The US remains the dominant engine, but we are also seeing rising strength from India and a cohort of fast-maturing economies that are now shaping the global landscape."
The average wealth per adult also varies widely across Europe, according to the UBS Global Wealth Report 2025 and additional data shared with Euronews. In 2024, it ranged from €29,923 in Turkey to €634,584 in Switzerland across 31 European countries.
This trend raises important questions about wealth inequality and the factors driving the rapid accumulation of wealth. It also highlights the growing importance of Europe's major economies in the global wealth landscape.
