{"url":"https://www.ft.com/content/6bfd7b59-5e63-4a4d-ab55-7c2bd39b05a5","title":"Rank Your Wealth: Germany's Stark Divides Exposed","domain":"ft.com","imageUrl":"https://images.pexels.com/photos/17893115/pexels-photo-17893115.jpeg?auto=compress&cs=tinysrgb&h=650&w=940","pexelsSearchTerm":"German wealth inequality","category":"Tech","language":"en","slug":"2349bc78","id":"2349bc78-9fb6-483f-a29b-fa7997888c09","description":"Bundesbank PHF reveals stable high wealth inequality in Germany despite inflation.","summary":"## TL;DR\n- **Bundesbank PHF** reveals stable high wealth inequality in Germany despite inflation.\n- Median net wealth hit **€106,600** in 2021, top **10%** threshold **€725,900**.\n- Real wealth grew for medians but top **10%** hold **54-60%** of total assets.[[1]](https://www.bundesbank.de/resource/blob/908924/3ef9d9a4eaeae8a8779ccec3ac464970/mL/2023-04-vermoegensbefragung-data.pdf)[[2]](https://publikationen.bundesbank.de/publikationen-en/reports-studies/monthly-reports/household-wealth-and-finances-in-germany-results-of-the-2023-household-wealth-survey-954660)\n\n## The story at a glance\nPaywalled **FT** piece likely spotlights **Bundesbank's PHF** wealth data via interactive calculator, letting users input assets to rank against percentiles like median **€106,600** or top **10%** at **€725,900** (2021). Amid surging house prices and stocks, average net wealth climbed to **€316,500**, yet inequality endures with **Gini** at **73%** and top **10%** gripping **56%** of riches. Tool demystifies stark divides: East medians lag West at **€43,400** vs **€127,900**; under-35s hold just **€11,400-€18,700**.[[1]](https://www.bundesbank.de/resource/blob/908924/3ef9d9a4eaeae8a8779ccec3ac464970/mL/2023-04-vermoegensbefragung-data.pdf)\n\n## Key moments & milestones\n- **2010-11**: PHF launches; median **€51,400**, mean **€195,200**, top **10%** share **59%**, **Gini** **76%**.[[1]](https://www.bundesbank.de/resource/blob/908924/3ef9d9a4eaeae8a8779ccec3ac464970/mL/2023-04-vermoegensbefragung-data.pdf)\n- **2014**: Median rises to **€62,300**, top **10%** **€468,000**, inequality steady at **Gini** **76%**.[[1]](https://www.bundesbank.de/resource/blob/908924/3ef9d9a4eaeae8a8779ccec3ac464970/mL/2023-04-vermoegensbefragung-data.pdf)\n- **2017**: Median **€70,800**, top **10%** **€555,400**, slight easing to **Gini** **74%**, top share **55%**.[[1]](https://www.bundesbank.de/resource/blob/908924/3ef9d9a4eaeae8a8779ccec3ac464970/mL/2023-04-vermoegensbefragung-data.pdf)\n- **2021**: Pandemic boosts median to **€106,600** (+51%), mean **€316,500** (+36%), top **10%** **€725,900**, **Gini** **73%**.[[1]](https://www.bundesbank.de/resource/blob/908924/3ef9d9a4eaeae8a8779ccec3ac464970/mL/2023-04-vermoegensbefragung-data.pdf)\n- **2023**: Nominal mean **€324,800**, real median falls to **€76,000** amid inflation; top **10%** share **54%** (survey), **60.5%** (DWA-adjusted).[[2]](https://publikationen.bundesbank.de/publikationen-en/reports-studies/monthly-reports/household-wealth-and-finances-in-germany-results-of-the-2023-household-wealth-survey-954660)\n\n## Signature highlights\n**Bundesbank's PHF**, now in waves through **2023**, paints a portrait of resilient inequality: top **10%** consistently claim over half of net wealth, fueled by business and housing assets, while bottom **50%** scrape ~**3%** even as their slice grew modestly post-2009.[[2]](https://publikationen.bundesbank.de/publikationen-en/reports-studies/monthly-reports/household-wealth-and-finances-in-germany-results-of-the-2023-household-wealth-survey-954660) Real median wealth nearly doubled to **€103,000** by 2023 (DWA), but inflation eroded gains, dropping 2021-23 medians **16%** in purchasing power.[[2]](https://publikationen.bundesbank.de/publikationen-en/reports-studies/monthly-reports/household-wealth-and-finances-in-germany-results-of-the-2023-household-wealth-survey-954660)\n\nThe FT tool would benchmark users against granular thresholds—e.g., **P90** **€725,900** (2021), interquartile **€338,000**—highlighting how **55-60%** concentration persists despite broader access to shares (up long-term).[[1]](https://www.bundesbank.de/resource/blob/908924/3ef9d9a4eaeae8a8779ccec3ac464970/mL/2023-04-vermoegensbefragung-data.pdf) East-West chasm endures (**€43k** vs **€128k** medians), peaking for **45-74** at **€155k-€231k**.\n\n| Percentile | 2021 Net Wealth (€) | Trend Insight |\n|------------|---------------------|---------------|\n| **P10**   | **6,900**          | Negative for ~7% |\n| **P50 (Median)** | **106,600**    | +107% since 2010 |\n| **P90 (Top 10%)** | **725,900**     | Absolute gaps widen |\n| **Gini**  | **73%**            | High vs euro avg ~69%[[1]](https://www.bundesbank.de/resource/blob/908924/3ef9d9a4eaeae8a8779ccec3ac464970/mL/2023-04-vermoegensbefragung-data.pdf)[[2]](https://publikationen.bundesbank.de/publikationen-en/reports-studies/monthly-reports/household-wealth-and-finances-in-germany-results-of-the-2023-household-wealth-survey-954660) |\n\nDWA tweaks for underreported ultra-rich push top **10%** to **60%+**, affirming Germany's outlier status.[[2]](https://publikationen.bundesbank.de/publikationen-en/reports-studies/monthly-reports/household-wealth-and-finances-in-germany-results-of-the-2023-household-wealth-survey-954660)\n\n## Why it matters\nHigh concentration—top **10%** at **€779,000**+ threshold—buffers policy shocks but amplifies vulnerabilities for **72%** below mean, straining social cohesion amid ageing demographics. Decision-makers gain benchmarks for taxes, pensions: median **€76k** real signals retirement shortfalls; tools like FT's empower personal planning against **Gini** **72%**. Watch **2026 PHF** for inflation's bite on debt service (stable ~**18%** income) and housing's role as middle-class anchor.[[2]](https://publikationen.bundesbank.de/publikationen-en/reports-studies/monthly-reports/household-wealth-and-finances-in-germany-results-of-the-2023-household-wealth-survey-954660)","hashtags":["#germany","#wealth","#bundesbank","#phf","#inequality","#percentiles"],"sources":[{"url":"https://www.ft.com/content/6bfd7b59-5e63-4a4d-ab55-7c2bd39b05a5","title":"Original article"},{"url":"https://www.bundesbank.de/resource/blob/908924/3ef9d9a4eaeae8a8779ccec3ac464970/mL/2023-04-vermoegensbefragung-data.pdf","title":""},{"url":"https://publikationen.bundesbank.de/publikationen-en/reports-studies/monthly-reports/household-wealth-and-finances-in-germany-results-of-the-2023-household-wealth-survey-954660","title":""}],"viewCount":3,"publishedAt":"2026-04-05T13:38:14.584Z","createdAt":"2026-04-05T13:38:14.584Z","articlePublishedAt":null}