The number of ultra-wealthy individuals in Europe has risen sharply over the past five years, with new figures highlighting both the scale of growth and the shifting geography of wealth across the region.

According to Knight Frank’s Wealth Report 2026, the population of ultra-high-net-worth individuals (UHNWIs) — defined as those with at least $30 million (€25.7 million) in assets — increased by 26% between 2021 and 2026. This growth added more than 37,000 new individuals to the ranks, bringing the total in Europe to 183,953.

Europe now accounts for just over a quarter of the global ultra-rich population, which stands at more than 710,000 people worldwide. The findings point to sustained wealth creation despite economic uncertainty and geopolitical pressures.

Germany continues to dominate the European landscape, with 38,215 UHNWIs, the highest number on the continent. The United Kingdom follows with 27,876, while France ranks third with 21,528. Switzerland and Italy round out the top five, with 17,692 and 15,433 ultra-wealthy individuals respectively.

Beyond these leading economies, the numbers drop significantly. Spain has 9,186 UHNWIs, while Sweden, the Netherlands, Denmark, Turkey, Austria and Poland each report fewer than 7,000 individuals in this category. Many smaller European countries have populations below 3,000.

Germany also recorded the largest increase in absolute terms, adding more than 9,000 ultra-wealthy individuals over the five-year period. Switzerland, France and the UK also posted notable gains.

However, the fastest growth rates were seen in countries with smaller initial populations of ultra-rich individuals. Poland more than doubled its UHNWI population, recording a 109% increase. Turkey and Romania followed closely, with growth rates of 94% and 93% respectively. Greece, Czechia and Portugal also reported gains of at least 50%.

The report suggests that while wealth remains concentrated in major economic centres, it is also spreading more widely across emerging European markets. Analysts note that this reflects broader changes in global wealth distribution, with new regions gaining economic momentum.

Globally, the United States remains the dominant hub for ultra-wealthy individuals, accounting for more than half of the world’s total. At the same time, rising economic strength in countries such as India is contributing to a more diverse global wealth landscape.

The report also highlights changing behaviour among the ultra-rich. Increasing tax pressures, regulatory changes and geopolitical uncertainty are prompting many to spread their assets and lifestyles across multiple countries. Family offices are playing a growing role in managing investments, tax exposure and long-term planning.

As wealth continues to grow and shift, Europe remains a key centre, balancing established financial powerhouses with rapidly developing markets that are reshaping the region’s economic profile.

The government of Greece is preparing new legislation aimed at strengthening consumer protection in the retail banking sector, including a cap on how much borrowers must repay on certain loans.

Prime Minister Kyriakos Mitsotakis outlined the proposal as part of a broader effort to curb what he described as unfair lending practices and unclear contract terms. The measures are expected to focus mainly on unsecured consumer loans and credit card debt of up to €100,000.

Under the plan, the total repayment amount — including interest and fees — would be limited to between 30 percent and 50 percent above the original loan amount. Officials say this approach aligns with practices seen in other European countries and is intended to create a more transparent and balanced framework for borrowers.

The proposal also includes a 14-day cooling-off period after signing a loan agreement, giving consumers the option to withdraw without penalty. Authorities believe this step will strengthen borrower rights and improve confidence in financial products.

The initiative comes as Greece’s consumer credit market continues a gradual recovery following years of contraction during the country’s debt crisis. Demand for loans has picked up since 2022, but borrowing costs remain relatively high compared with other types of credit.

Interest rates on consumer loans often exceed 10 percent, while rates on revolving credit products such as credit cards can rise above 14 percent. Economists warn that the combination of increased borrowing and elevated interest rates could heighten the risk of households taking on unsustainable levels of debt.

The government’s move forms part of a wider push to address concerns about banking practices. In recent years, customers have raised complaints about complex terms and conditions, as well as the cost of basic services such as transfers and account maintenance.

Authorities have also urged banks to offer better returns to savers during the period of rising interest rates, arguing that financial institutions have been slow to pass on benefits to depositors.

Despite these concerns, Greece’s banking sector has shown signs of recovery, with institutions returning to profitability after a period of restructuring and efforts to reduce non-performing loans.

Officials say the proposed measures are designed to strike a balance between supporting a stable banking system and ensuring fair treatment for consumers. If approved, the legislation could mark a significant step in reshaping the relationship between lenders and borrowers in Greece’s evolving financial landscape.

European stock markets opened higher on Tuesday but later traded in mixed territory as investors tracked developments in the Middle East and their potential impact on global energy supplies.

Early gains across major indices faded as uncertainty surrounding the situation between the United States and Iran weighed on sentiment. Traders remained focused on the situation in the Strait of Hormuz, a vital corridor for global oil and gas shipments that has been at the center of recent tensions.

Oil prices pulled back in early trading after a sharp rise in the previous session, though they stayed well above recent averages. Brent crude was down 1.38 percent at $112.86 a barrel, while West Texas Intermediate crude fell 2.27 percent to about $104 per barrel. Prices had surged close to 6 percent on Monday, briefly pushing Brent above $114, as concerns grew over possible supply disruptions.

Equity markets in Europe showed mixed performance. Germany’s DAX rose 0.8 percent, while France’s CAC 40 gave up early gains to slip into negative territory. The UK’s FTSE 100 hovered around flat levels, and Italy’s FTSE MIB posted a stronger gain of 1.2 percent.

Trading volumes were relatively light, with several major Asian markets closed for holidays. In the region, Hong Kong’s Hang Seng Index declined 1.1 percent, while Australia’s S&P/ASX 200 dropped 0.5 percent. Taiwan’s TAIEX also edged lower.

The fragile ceasefire between Washington and Tehran faced renewed strain on Monday. US officials said military forces had sunk several Iranian boats that were approaching civilian vessels, while two US-flagged ships managed to pass through the Strait of Hormuz under protection. Despite these movements, much of the key waterway remains effectively restricted, raising concerns about the flow of energy supplies.

The standoff intensified after Donald Trump introduced what has been described as “Project Freedom,” a plan aimed at escorting stranded commercial vessels through the contested route. The United States has also imposed a maritime blockade on Iranian ports, adding to the pressure on Tehran.

Before the escalation began earlier this year, oil prices had been trading near $70 a barrel. The recent surge highlights the sensitivity of energy markets to geopolitical developments in the Gulf region.

Investors continue to monitor the situation closely, with further shifts in markets likely as events unfold and as clarity emerges on the status of shipping through one of the world’s most critical energy corridors.