Europe's wealth: Which nations hold the biggest share?
The US holds more than a third, and China about a fifth. Together, these two powers control 54% of world's wealth according to UBS's Global Wealth Report 2025.
The UBS report covers 56 countries and markets, representing over 92% of global wealth.
But which European countries hold the largest shares of the world's personal wealth? And what is the total personal wealth of each country? Euronews Business takes a deep dive.
Where in Europe holds the largest share of the world's personal wealth?
According to the report, global personal wealth reached $471 trillion (€435 trillion) by the end of 2024. The US holds the largest share at 34.7% (€150.9 trillion), followed by China with 19.4% (€84.2 trillion). Japan ranks third with 4.5% (€19.7 trillion).
Europe—including the EU, UK, Switzerland, Norway, and Turkey—holds 22.3% of global personal wealth.
In Europe, the UK holds the highest share of global personal wealth at 3.84%, closely followed by Germany at 3.76%. France is not far behind with a 3.3% share.
Italy (2.25%) and Spain (1.95%) complete the top five in Europe. Not surprisingly, Europe's five largest economies take the top five spots on this list.
China larger than Europe's top five combined
The combined share of Europe's top five economies (15.1%)—France, Germany, Italy, Spain and UK—is still significantly behind China's share of global personal wealth (19.4%).
The Netherlands (1.14%) and Switzerland (1.04%) each hold shares above 1%.
The global wealth shares of other European countries are far below this threshold. Nineteen out of 31 countries have shares of less than 0.4%.
For several countries, the global wealth share is below 0.1%. They included Luxembourg, Bulgaria, Slovakia, Slovenia, Lithuania, Latvia, Cyprus, Estonia and Malta.
In nominal terms, the UK holds €16.7 trillion in personal wealth, followed by Germany (€16.4 trillion) and France (€14.3 trillion). No other European country exceeds the €10 trillion mark.
Country totals, not wealth per person
It is important to note that these figures show total wealth and national shares. They do not indicate which countries are richer or wealthier at the individual level. Wealth per adult is the measure used for that comparison.
In general, countries with higher gross domestic product (GDP) tend to have larger shares of global personal wealth, as shown by the top five European economies. While GDP levels vary greatly, this pattern also applies to several other countries.
As for why the US and China hold more than half of global wealth, the report notes: 'A combination of high wealth per adult and a large population makes the US stand out by holding almost 35% of the entire wealth measured in USD. Mainland China, thanks to its large population, holds almost 20% of personal wealth.'
Wealth rises in Eastern Europe, declines in the west
The overall global increase was faster than the previous year, rising from 4.2% to 4.6% in USD terms. But global wealth growth was uneven, as the total hides clear differences between regions.
Eastern Europe recorded the largest jump in total personal wealth in 2024—over 12% increased compared with 2023, slightly ahead of North America. It added 28,000 new millionaires, a 2.9% increase, making the region a strong engine of growth.
Total personal wealth in Greater China grew by 3.4% from 2023 to 2024, outpacing Southeast Asia's 2.7%. The Middle East & Africa rose 4.2%, making it the only other region with positive growth. Western Europe and Oceania (both -1.5%) and Latin America (-4.3%) all saw declines, after adjusting for population size.
What is personal wealth?
Wealth or net worth is defined as the value of financial assets and real assets (principally housing) owned by private individuals, less their debts according to the report. Private pension fund assets are included, but not entitlements to state pensions.
Wealth per adult rose in most European countries between 2023 and 2024, though a few saw declines. The Euronews article 'Where in Europe did people's net worth increase the most?' shows how this changed at the personal level.
Meanwhile, the richest 10% in the eurozone held 57.3% of total net household wealth in the final quarter of 2024, you can read more on how wealth inequality varies widely across Europe here.
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