Our G-SOEP survey finds much higher private wealth & higher wealth inequality in Germany than previously known:

Top 0.1% have 20% of all private wealth (prev. 7%)
Top 1% have 35% (22%)
Top 10% have 67% (59%)
Bottom 50% have 1.5%

Report (in German):

https://www.diw.de/documents/publikationen/73/diw_01.c.793785.de/20-29-1.pdf

Facts on wealth in Germany #2:

Our new G-SOEP survey of the rich “discovered” €2100 billion (about 65% of GDP) in “new” private wealth in Germany, for a total of €10,300 billion, using a new methodology.
@PikettyLeMonde

Our study @DIW_Berlin_en :

https://www.diw.de/documents/publikationen/73/diw_01.c.793785.de/20-29-1.pdf

Facts on wealth in Germany #3:

The richest 1% in Germany have with 35% about as high a share of all private wealth as in the United States, and with wealth inequality being almost as high in Germany as in the US.
@gabriel_zucman

Source: Bartels, Schularick

Facts on wealth in Germany #4:

Germany has one of the highest wealth inequalities in Europe, with a Gini of 0.83.
What is unusual is that the poorest 50% have barely any net wealth. Their share is 1.5%, with almost a third having no meaningful net wealth at all.
@PikettyLeMonde

Facts on wealth in Germany #5:

There are about 1 million millionaires in Germany (out of 83 million inhabitants).

The average millionaire has €3 million in net wealth.

The average adult in the bottom half of the wealth distribution has €3682.

Our @DIW_Berlin_en -SOEP survey

Facts on wealth in Germany #6:

43% of net wealth is in the form of company ownership & 41% in real estate among the rich.

The poorest 50% hold almost all of their savings as cash, with almost none having real estate. (only 45% of Germans have real estate).
@JosephEStiglitz

Facts on wealth in Germany #7:

Wealthy Germans have predominantly six specific characteristics:
·         male – 69%
·         middle/old age – 77%
·         no migration background – 86%
·         from West Germany – 94%
·         well educated
·         self-employed – 73%

Facts on wealth in Germany #8:

Wealth is distributed very unequally geographically within Germany – as this graph shows for equity ownership of companies.
 
This graph comes from the excellent reporting by @zeitonline on our new study on wealth in Germany.

Facts on wealth in Germany #9:

More than 50% of wealth in Germany has been acquired through inheritance, not through one’s own work.

Most of those 38% being lucky enough to receive an inheritance are well educated and have a relatively high income.

http://www.hec.unil.ch/mbrulhar/papers/BrulhartDupertuisMoreau.pdf

Facts on wealth in Germany #10:

Germans inheriting more than €20 million pay on average 1.8% in inheritance taxes.
Germans inheriting less than €500,000 pay on average 12% in inheritance taxes.
@gabriel_zucman @EDerenoncourt

https://www.diw.de/documents/publikationen/73/diw_01.c.524690.de/16-3-1.pdf

Facts on wealth in Germany #11:

Hardly any country has higher taxes on labour income and lower taxes on (income on) wealth than Germany.

Germany has about one quarter of the revenues from wealth-related taxes compared to the US, UK and France.

Facts on wealth in Germany #12:

The share of income going to the bottom 50% in Germany has declined from 33% in the 1960s to 17% today.

The increase in income inequality is an important reason for the rise in wealth inequality.
@PikettyLeMonde

Study by my colleague C Bartels:

Facts on wealth in Germany #13:

Millionaires have a significantly higher life satisfaction (esp. with regard to work, family, health).
As a consolation to all the others: millionaires seem to have less fun – they are less satisfied with their leisure time.
@JustinWolfers G-SOEP