Switzerland’s Richer to reach Record Wealth

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The three hundred richest individuals or families in Switzerland have witnessed their wealth grow by about CHF 1.7 billion in the last year. Together, these rich families or individuals have more than about CHF 675 billion which is also a record high.

The CHF 1.7 billion high value in the last year shows an increase of 0.2 percent. This is down from the mean annual growth seen in the last decade since the financial crisis of CHF 28 billion (5.3 percent) according to one report from the business magazine Bilanz.

The top ten families or individuals in this elite list have assets that cost more than CHF 203 billion. So, in other words, the top 3 percentage holds around one third (33 percent) of the 300 elite’s total wealth. The wealth held by the elite group has increased over the years at a high rate. Since 1989, the elite group in Switzerland have seen an increase in their wealth and assets growing at a rate which was three times higher than the rate at which the country’s gross domestic product value has increased.

To be categorised in the elite group, i.e. to be put in the list of Switzerland’s richest people, one should have a fortune of CHF 100 million or more. Last year have seen 15 new individuals or families making it to this list.

The Ikea family Kamprad tops the elite list and has held the first place for the last seventeen years. The founder Ingvar Kamprad passed away in 27th January this year and had passed on the assets he possessed to his sons.

It is said that if all the wealth held by these elite group of individuals or families were divided completely and given to the Switzerland citizens, every person living here will be getting about CHF80,000.

The richest person in the country right now is Canton Vaud with assets of CHF 50.5 billion. He is followed by Basel with assets of CHF 25.5 billion and Saint Gallen (CHF 21.5 billion).

Bilanz said that the growth observed in the wealth among the richest in Switzerland is surprising and might be higher than the mentioned value.

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