Related <\/p>\n
Are Europe’s millionaires getting richer? <\/p>\n
In short, yes. <\/p>\n
Capgemini estimates there are around 6 million HNWIs in Europe<\/a>, around a 6.5% increase in 2024. And their total wealth is growing too \u2014 Europe rebounded sharply, with HNWI wealth growth increasing from 0.7% in 2024 to 8.0% in 2025. <\/p>\n But of course, that increase in wealth isn’t evenly spread. <\/p>\n Luxembourg emerged as one of the highest-growth markets with a 13.5% HNWI population increase, unsurprising considering their low effective tax rates, generous exemptions on investment income and no wealth tax. Germany registered an 11.1% growth in HNWI population, Belgium went up by 9%, while France and the United Kingdom saw gains of 2.7% and 2.6%, respectively. <\/p>\n Related <\/p>\n What are the super rich doing with their wealth? <\/p>\n As the number of rich people and their wealth grows, the way they use their wealth is also changing. <\/p>\n “We’ve seen a move towards equities, so stocks and shares, we’ve seen a move toward fixed income assets and we’ve seen a reduction in terms of the cash holdings,” Gareth explained. <\/p>\n “That’s an interesting point because I think we view cash as a relatively conservative asset class and we’ve seen these high net worth individuals move their investments to higher returns but also potentially higher risk equities, stocks and shares.” <\/p>\n But don’t be alarmed by the word ‘higher risk’, because it’s probably a good thing for the rest of us. <\/p>\n “I think because of their assets and their appetite for investment, this should generate growth. This should generate economic value across the globe. I think we see that in terms of how some of the stock markets have responded<\/a>,” Gareth added. <\/p>\n Sectors like defence and energy, topics at the top of the European agenda right now, have seen a boost in their fortunes, bolstering stock markets. For example, Germany’s DAX index rose nearly 22%, partly thanks to the likes of Rheinmetall and Siemens Energy. <\/p>\n Mining and defence also contributed to the UK’s FTSE 100 rising 21.5% in 2025. <\/p>\n “The environment in terms of what the European Central Bank<\/a> <\/a>has done with regard to interest rates has definitely created some more stability to enable investment,” Gareth explained. <\/p>\n “But we’ve also seen significant focus on innovation, whether it be sectors like defence, which is obviously for differing reasons, […] but that is also generating growth within the local economies, it’s generating equity performance and ultimately contributing to this growth within high net worth individuals.” <\/p>\n<\/a> Gareth Wilson, EVP at Capgemini joined Stefan Grobe on The Big Question – Euronews <\/p>\n