It makes quite a splash whenever a consulting firm, bank or asset-management company publishes details about the world’s super-rich.
For example, a new study by Boston Consulting Group calculates that private households owned $168 trillion (€150 trillion) in 2015, up 5.2 percent compared with a year earlier.
In Germany, the top 1.1 percent of the population, or 900,000 citizens, owned 27.6 percent of the private assets in the country last year. By 2020, that wealthy group of German people is expected to grow to 1.6 percent of the population and will own 31.5 percent of private assets.
Many studies about the ultra-wealthy make for juicy stories and headlines but are based on pseudo-precise data.