The number of ultra-wealthy individuals in Europe has grown sharply over the past five years, even as data continues to highlight deep inequality in wealth distribution across the continent.

According to Knight Frank’s Wealth Report 2026, Europe’s population of ultra-high-net-worth individuals—defined as those with at least $30 million in assets—has increased by 26 percent since 2021. The total has risen from 146,525 to 183,953, adding more than 37,000 individuals in five years.

This growth translates to an average of roughly 20 new ultra-wealthy individuals each day in Europe. Globally, the report shows around 89 people cross the $30 million threshold daily, underscoring a broader expansion of extreme wealth across major economies.

Despite this rise, wealth inequality within Europe remains pronounced. The European Central Bank reported in 2023 that the median net wealth of households in the euro area stood at €123,500. However, the distribution varies widely, ranging from just €2,000 among the bottom 20 percent of households to more than €1 million for the top 20 percent.

Germany leads Europe in the growth of ultra-wealthy residents. The number of individuals in the country with at least $30 million in wealth increased from 28,942 in 2021 to 38,215 in 2026. On average, this equates to about five new entrants per day. Germany remains Europe’s largest economy and ranks third globally in GDP after the United States and China.

Switzerland has also seen strong growth, adding an average of 2.7 ultra-wealthy individuals per day over the same period. France follows with around 2.1 new members daily, bringing its total to 21,518. The United Kingdom and Italy both record growth of approximately 1.6 individuals per day, while Spain adds about 1.5. Turkey also features among the faster-growing markets in Europe, with around 1.1 new ultra-wealthy individuals daily.

Smaller but steady increases are recorded across other European economies, including Poland, Czechia, Austria, Denmark, Portugal, the Netherlands, Ireland and Sweden, where growth ranges from 0.3 to 0.9 individuals per day.

On a global scale, the United States remains the dominant hub for extreme wealth, with 251,352 ultra-high-net-worth individuals in 2026. China follows with 121,677, while Germany ranks third worldwide. The United States alone adds an average of 36.7 new ultra-wealthy individuals daily, roughly one every 90 minutes. China adds about 12.5 per day.

India and Australia also appear among the top global contributors outside Europe. Overall, the global ultra-wealthy population increased by 162,191 between 2021 and 2026, reaching a total of 713,626 individuals.

Liam Bailey, global head of research at Knight Frank, said the trend reflects a major shift in global wealth distribution, with established and emerging economies both contributing to rapid growth in high-net-worth populations.

At the same time, UBS Global Wealth Report 2025 data highlights significant variation in average wealth per adult across Europe, ranging from about €29,923 in Turkey to €634,584 in Switzerland, reinforcing the continent’s persistent wealth divide despite rising numbers at the top end of the economic scale.

The US Federal Reserve enters a new phase on Wednesday as Kevin Warsh presides over his first policy meeting as chair, marking a closely watched leadership transition in American monetary policy. While economists broadly expect interest rates to remain unchanged, investors are focused on signals that could define the central bank’s direction under new leadership.

The Federal Open Market Committee is expected to keep the benchmark interest rate within the 3.50% to 3.75% range, extending a steady policy stance for a fourth consecutive meeting. The last adjustment came in December 2025, when rates were reduced by 25 basis points.

Although no immediate policy shift is anticipated, attention is centred on the language of the Fed’s statement and Chair Warsh’s first press conference. Analysts say even subtle changes in wording could indicate whether policymakers are leaning toward holding rates higher for longer or considering future increases if inflation remains persistent.

Warsh assumes leadership during a more complex economic environment than when he was previously associated with calls for lower interest rates. At that time, he aligned with arguments suggesting artificial intelligence-driven productivity gains could help ease inflation pressures. However, economists now point to continued inflationary risks tied to investment cycles in technology sectors, which have contributed to demand pressures across the economy.

Inflation has risen since the outbreak of the Iran conflict in February, reaching 4.2%, its highest level in three years, largely driven by higher energy costs. Although a US-backed framework for a peace deal has been announced, uncertainty remains over its durability, and analysts warn that any relief in fuel prices could take months to filter through to broader inflation measures.

The Fed’s preferred inflation gauge has remained above its 2% target for more than five years. At the same time, the labour market continues to show resilience, with 172,000 jobs added in May, marking the third consecutive month of solid employment growth. This stability has reduced pressure for further rate cuts that were previously projected earlier in the year.

Because interest rates are expected to remain unchanged, market attention has shifted to the Fed’s updated Summary of Economic Projections and the “dot plot”, which outlines policymakers’ expectations for future rate movements. Some economists, including those at Bank of America, anticipate that the projections may indicate no rate cuts through 2026, with a minority of officials even signalling potential rate increases.

Communication strategy is also expected to be a key focus under Warsh. He has previously argued that the Fed should reduce the frequency of public commentary to avoid constraining policy flexibility. One possible change could involve returning to fewer press conferences, a model last used under former Chair Ben Bernanke.

However, analysts caution that reduced communication could unsettle financial markets that have grown reliant on clear forward guidance from the central bank.

Adding to the complexity, former chair Jerome Powell remains on the Fed’s board as a governor and is expected to participate in Wednesday’s vote, maintaining influence over policy decisions during the transition period.