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Germany ranks third in the number of millionaires in US dollars, behind only the United States and Japan. The top four countries with the largest number of millionaires account for 63% of the global total.
Together, the world's millionaires hold $80 trillion (€67 trillion) in wealth. This amount grew by 7.6% in just the last year alone.
In 2020, the number of people with a net worth of $1 million grew by 6.3%. The countries with the most millionaires are, in rank order, the United States, Japan, Germany and China.
Germany's 1,535,000 millionaires saw their wealth grow by 4.7% over the course of the pandemic. This is compared to America's 6,575,000 millionaires, who watched their wealth increase by 12.3%.
The disparity can be chalked up to Europe's exposure to industries more severely impacted by the pandemic, such as fashion, tourism and retail. By contrast, the biggest gains were in technology and market valuation, favoring North America's wealthy.
The super-rich or high net worth individuals, worth at least $30 million, saw their wealth grow by 9% over the last year.
After five years of Asia's dominance, pandemic gains in stocks and technology put the US firmly back on top.
Capgemini monitors share prices, bonds owned, alternative investments, cash and property to make its valuations.
In addition to surveying wealth and wealth managers, the consulting company also relies on data from international organizations like the World Bank.
This was the 25th year of the World Wealth Report; the findings are in line with similar rankings of the world's wealthy.
dpa contributed to this report.