{"id":305156,"date":"2025-10-20T12:00:35","date_gmt":"2025-10-20T11:00:35","guid":{"rendered":"https:\/\/www.transcend.org\/tms\/?p=305156"},"modified":"2025-10-16T07:38:25","modified_gmt":"2025-10-16T06:38:25","slug":"eu-billionaires-wealth-surges-by-over-e400-billion-in-first-half-of-2025","status":"publish","type":"post","link":"https:\/\/www.transcend.org\/tms\/2025\/10\/eu-billionaires-wealth-surges-by-over-e400-billion-in-first-half-of-2025\/","title":{"rendered":"EU Billionaires\u2019 Wealth Surges by over \u20ac400 Billion in First Half of 2025"},"content":{"rendered":"<blockquote>\n<p style=\"text-align: center;\">9 Oct 2025\u00a0&#8211; <em>The combined wealth of EU billionaires increased by more than 400 billion euros in just six months this year&#8211;over two billion euros a day.<\/em><\/p>\n<\/blockquote>\n<header>\n<div class=\"hero-image relative mb-8\">\n<div class=\"relative\">\n<div class=\"image transition-3\">\n<div>\n<div><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter\" src=\"https:\/\/oi-files-d8-prod.s3.eu-west-2.amazonaws.com\/s3fs-public\/styles\/hero_image_small\/public\/2022-01\/OGB_116719_Mozambique_Cyclone%20Kenneth_1280.jpg?h=b5f6a62e&amp;itok=_Vfq10jg\" alt=\"A boy sits amid scenes of destruction in Macomia town after it was hit by tropical cyclone Kenneth.\" width=\"339\" height=\"136\" \/><\/div>\n<\/div>\n<\/div>\n<div class=\"caption py-5 px-5 lg:py-6 text-white text-left transition-bg transition-2 w-full relative hero\">\n<div class=\"caption-text leading-normal text-xs lg:text-sm mx-auto\">\n<p style=\"text-align: center;\"><strong><em>A boy sits amid scenes of destruction in Macomia town after it was hit by tropical cyclone Kenneth, which made landfall in Cabo Delgado province in Northern Mozambique, on 25th April 2019. Photo: Tommy Trenchard\/Oxfam<\/em><\/strong><\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/header>\n<section class=\"mb-12 clearfix\"><\/section>\n<p>That is according to Oxfam\u2019s new report, <a target=\"_blank\" href=\"https:\/\/policy-practice.oxfam.org\/resources\/a-european-agenda-to-tax-the-super-rich-a-solution-to-inequality-in-the-europea-621736\/\" ><em><strong>\u201cA European Agenda to Tax the Super-Rich\u201d<\/strong><\/em><\/a><em>\u00a0<\/em>which comes ahead of European finance ministers meeting to discuss ways to finance the EU\u2019s budget.<\/p>\n<p>In 2025, the EU counted nearly 500 billionaires, 39 more than in 2024. In the last year alone, a new billionaire was created, on average, every 9 days in the EU.<span lang=\"EN-US\">\u00a0<\/span><\/p>\n<article role=\"article\">\n<section class=\"mb-12 clearfix\">\n<div class=\"clearfix\">\n<div class=\"paragraph paragraph--type--text paragraph--view-mode--default\">\n<div class=\"paragraph paragraph--type--text paragraph--view-mode--default max-width-text content-section-text copy-body\">\n<div>\n<ul>\n<li><strong>The combined wealth of EU billionaires grew over \u20ac2 billion a day.<\/strong><\/li>\n<li><strong>Over 80% of total tax revenue in EU countries is paid primarily by ordinary Europeans, compared to 9% from companies and just 0.4% from wealth taxes.<\/strong><\/li>\n<li><strong>A European wealth tax could raise the equivalent of one year of the proposed EU 7-year budget.\u00a0<\/strong><\/li>\n<\/ul>\n<p>Altogether, the richest 3,600 Europeans now hold as much wealth as the poorest 181 million \u2013 equivalent to the populations of Germany, Italy and Spain combined.\u00a0<span lang=\"EN-US\">\u00a0<\/span><\/p>\n<p>\u201cEurope is minting billionaires at a record rate while millions of Europeans are struggling to make ends meet,\u201d said Chiara Putaturo, Oxfam EU tax expert. \u201cThis inequality is not by accident, it is by design.\u201d<span lang=\"EN-US\">\u00a0<\/span><\/p>\n<p>The report shows how decades of tax policies have been rigged to benefit the super-rich while squeezing ordinary people.<\/p>\n<p>Since the 1980s, EU governments have cut taxes for the super-rich and companies, while relying more heavily on taxes paid mainly by ordinary Europeans, such as wage and consumption <span lang=\"EN-US\">taxes.<\/span><\/p>\n<p>Today, 8 in every 10 euros of tax revenue in the EU comes from taxes paid primarily by ordinary Europeans. Corporate income tax, the tax companies pay on their profits, makes up just 9% and taxes on wealth only 0.4%.<\/p>\n<p>Ordinary Europeans mostly earn through wages, which are, on average, taxed at a higher rate.<\/p>\n<p>By contrast, the super-rich grow even richer while paying less, using investments and holding companies that are taxed at lower rates or not at all in some EU countries.<\/p>\n<p>Meanwhile, wealth itself is barely taxed. Ten EU countries have no inheritance tax, and only one EU country, Spain, has a net wealth tax.\u00a0<span lang=\"EN-US\">This means<\/span> the super-rich often pay a much lower effective tax rate on their income and wealth than ordinary people.\u00a0<span lang=\"EN-US\">\u00a0<\/span><\/p>\n<p>While wealth has exploded into the hands of a very few, European governments have grown relatively poorer, with most new wealth going into private pockets instead of public budgets.<\/p>\n<p>In the 1990s, governments owned about 10% of total wealth \u2013 now it is almost half at just 6%. Based on the latest data available, Oxfam estimates that if governments had kept that share, EU countries would have an additional 3.6 trillion euros in 2023 to invest in public services.\u00a0<span lang=\"EN-US\">\u00a0<\/span><\/p>\n<p>\u201cThe pie got bigger, but the government\u2019s slice shrank \u2013 leaving less for schools and hospitals and piling debt on future generations while more goes into the hands of the super-rich. Wealth is not trickling down, it is exploding upwards,\u201d said Putaturo.<\/p>\n<p>\u201cWe need an urgent rewrite of tax rules in Europe to make sure everyone plays by them and pays their fair share of tax. The EU needs fresh resources to fund its budget to fight the climate crisis, keep its aid promises, and tackle inequality\u2026<\/p>\n<p>\u2026 To do this, the EU should adopt a plan to tax the super-rich and EU countries should not wait \u2013 they can act now by increasing taxes on the income and wealth of the super-rich at home\u201d, said Putaturo. <span lang=\"EN-US\">\u00a0<\/span><\/p>\n<\/div>\n<\/div>\n<\/div>\n<p><em><strong>Notes:<\/strong><\/em><\/p>\n<div class=\"paragraph paragraph--type--notes-to-editors paragraph--view-mode--default max-width-text copy-body\">\n<div>\n<p>Chiara Putaturo is available for interview and comment.\u00a0<span lang=\"EN-US\">\u00a0<\/span><\/p>\n<p><span lang=\"EN-US\">EU Finance Ministers meet\u00a0<\/span><a target=\"_blank\" href=\"https:\/\/www.consilium.europa.eu\/en\/meetings\/ecofin\/2025\/10\/10\/\" ><span lang=\"EN-US\">tomorrow<\/span><\/a><span lang=\"EN-US\"> to discuss the Commission\u2019s recent proposals for new EU own resources. Oxfam proposes\u00a0that EU Finance Ministers also consider a tax on extreme wealth, a tax on the profits of the fossil fuel industry, and aviation taxes.\u00a0<\/span><\/p>\n<p><strong>Download the report, <a target=\"_blank\" href=\"https:\/\/policy-practice.oxfam.org\/resources\/a-european-agenda-to-tax-the-super-rich-a-solution-to-inequality-in-the-europea-621736\/\" ><em>\u201cA European Agenda to Tax the Super-Rich\u201d<\/em><\/a>, and the accompanying methodology note.<span lang=\"EN-US\">\u00a0<\/span><\/strong><\/p>\n<p><strong>The report found:\u00a0<\/strong><\/p>\n<ul>\n<li>The combined wealth of the EU\u2019s billionaires grew by \u20ac405bn over the first six months of 2025, reaching \u20ac2.3tn by the end of June.<\/li>\n<li>The EU counted 487 billionaires in 2025, 39 more than in 2024. This dataset is updated annually in March.<\/li>\n<li>In 2023, the poorest half of people in the EU (181 million adults) held the same share of Europe\u2019s wealth (3.4%) as the richest 0.001% (3,600 adults).<\/li>\n<li><\/li>\n<li>The joint population of Germany, Italy and Spain (191 million) is comparable to the number of people with the same wealth as Europe\u2019s 3,600 richest.<\/li>\n<li>In 2022, more than 80% of total tax revenue in EU countries came from taxes paid primarily by ordinary people, such as personal income, payroll or consumption taxes.<\/li>\n<li>By comparison, corporate taxes contributed 9% and net wealth taxes (mainly paid by wealthy individuals) contributed 0.4%.\u00a0<span lang=\"EN-US\">\u00a0<\/span><\/li>\n<\/ul>\n<p>The report lays out a roadmap for the EU and EU countries to tax the super-rich. Oxfam is calling for:<span lang=\"EN-US\">\u00a0<\/span><\/p>\n<ul>\n<li><strong>A wealth tax<\/strong> at<span lang=\"EN-US\"> rates high enough to reduce inequality.<\/span><\/li>\n<li><strong>Higher top tax\u00a0rates<\/strong> on personal income for the richest 1%, and to tax income from dividends and capital gains<span lang=\"EN-US\">\u00a0at least the same as wages.<\/span><\/li>\n<li><strong>Progressive and effective inheritance and property taxes<\/strong>; updated to reflect real housing, corporate assets and land values.<\/li>\n<li><strong>EU-wide rules<\/strong> to stop harmful tax systems that only benefit the super-rich, at the cost of ordinary people<span lang=\"EN-US\">.<\/span><\/li>\n<li><strong>A European assets registry<\/strong>\u00a0to track wealth.<\/li>\n<li><strong>A European common standard<\/strong> on the taxation of capital.<\/li>\n<li><strong>Greater transparency\u00a0<\/strong>on how much the richest actually pay in taxes<span lang=\"EN-US\">\u00a0<\/span><\/li>\n<\/ul>\n<p>According to Oxfam, an EU-wide wealth tax of up to 5% on millionaires and billionaires could raise 286.5bn euros annually. That is equivalent to the\u00a0<a target=\"_blank\" href=\"https:\/\/commission.europa.eu\/strategy-and-policy\/eu-budget\/long-term-eu-budget\/2021-2027\/whats-new_en#:~:text=This%20unprecedented%20response%20will%20help,750%20billion%20in%202018%20prices).&amp;text=This%20is%20a%20truly%20modernised,%2Dterm%20budget%2C%2031.9%25\" ><span lang=\"EN-GB\"><strong>Commission\u2019s new proposal<\/strong><\/span><\/a> for the EU budget on an annual basis.\u00a0<span lang=\"EN-US\">\u00a0<\/span><\/p>\n<p>The report references studies that show that in EU countries, the super-rich pay much lower effective tax rates on their income than ordinary citizens. The definition of income varies in the studies.<\/p>\n<p><strong>For example:\u00a0<\/strong><\/p>\n<ul>\n<li>In\u00a0<strong><a target=\"_blank\" href=\"https:\/\/www.racine.be\/fr\/in%C3%A9galit%C3%A9s-en-belgique-un-paradoxe\" ><span lang=\"EN-GB\">Belgium<\/span><\/a><\/strong>, the richest 1% have an average effective tax rate of 23% on their income, compared to 43% for the average person.<\/li>\n<li>In\u00a0<strong><a target=\"_blank\" href=\"https:\/\/fedea.net\/noveno-informe-2022-del-observatorio-sobre-el-reparto-de-los-impuestos-y-las-prestaciones-entre-los-hogares-espanoles\" ><span lang=\"EN-GB\">Spain<\/span><\/a><\/strong>, all taxes considered, the richest 1% pay an average effective tax rate of 24% on their income, compared to an average effective tax rate of 35% on household income.<\/li>\n<li>In\u00a0<a target=\"_blank\" href=\"https:\/\/prod.wid.world\/www-site\/uploads\/2024\/10\/WorldInequalityLab_WP2024_23_Tackling-the-regressivity-of-the-Italian-tax-system_Final.pdf\" ><span lang=\"EN-GB\"><strong>Italy<\/strong><\/span><\/a>, the richest 7% have an average effective tax rate of 32.5% on their income, compared to 50% for the average person.<\/li>\n<li>In the<strong>\u00a0<a target=\"_blank\" href=\"https:\/\/gabriel-zucman.eu\/files\/report-g20.pdf\" ><span lang=\"EN-GB\">Netherlands<\/span><\/a><\/strong>, the richest 0.1% have an effective tax rate of 20% on their income, compared to around 40% for the average working person.<\/li>\n<li>In\u00a0<a target=\"_blank\" href=\"https:\/\/gabriel-zucman.eu\/files\/report-g20.pdf\" ><span lang=\"EN-GB\"><strong>France<\/strong><\/span><\/a>, the richest 0.0002% have an average effective tax rate of 26% on their economic income, compared with 46% and 54% for 99% of the population.<span lang=\"EN-US\">\u00a0<\/span><\/li>\n<\/ul>\n<p>Since the 1980\u2019s, EU countries have cut wealth taxes as well as top income and corporate tax rates drastically, while relying more on labour and consumption taxes \u2013 taxes on goods and services \u2013 that hit low-income families and persons hardest.\u00a0<span lang=\"EN-US\">\u00a0<\/span><\/p>\n<p>Between 1995 and 2023, the net national wealth in the EU increased by 126.3%, almost entirely due to an increase in net private wealth (+136.1%).<\/p>\n<p>Net public wealth, owned by local and central governments, increased only by 40.4%, and its share decreased from 10% to 6%.<span lang=\"EN-US\">\u00a0<\/span><\/p>\n<p>According to the 2025\u00a0<strong><a target=\"_blank\" href=\"https:\/\/europa.eu\/eurobarometer\/surveys\/detail\/3375\" ><span lang=\"EN-GB\">Eurobarometer<\/span><\/a><\/strong>, 65% of Europeans support a tax on the wealthiest individuals to ensure they pay a minimum level of taxes.<\/p>\n<p><a target=\"_blank\" href=\"https:\/\/human-wrongs-watch.net\/2025\/10\/14\/eu-billionaires-wealth-surges-by-over-e400-billion-in-first-half-of-2025\/\" >Go to Original &#8211; human-wrongs-watch.net<\/a><\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/section>\n<\/article>\n","protected":false},"excerpt":{"rendered":"<p>9 Oct 2025\u00a0&#8211; The combined wealth of EU billionaires increased by more than 400 billion euros in just six months this year&#8211;over two billion euros a day.<\/p>\n","protected":false},"author":4,"featured_media":117880,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[55],"tags":[1023,3225,232,958,555,1803,1213],"class_list":["post-305156","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-capitalism","tag-banksters","tag-billionaires","tag-capitalism","tag-control","tag-elites","tag-oxfam","tag-super-rich"],"_links":{"self":[{"href":"https:\/\/www.transcend.org\/tms\/wp-json\/wp\/v2\/posts\/305156","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.transcend.org\/tms\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.transcend.org\/tms\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.transcend.org\/tms\/wp-json\/wp\/v2\/users\/4"}],"replies":[{"embeddable":true,"href":"https:\/\/www.transcend.org\/tms\/wp-json\/wp\/v2\/comments?post=305156"}],"version-history":[{"count":1,"href":"https:\/\/www.transcend.org\/tms\/wp-json\/wp\/v2\/posts\/305156\/revisions"}],"predecessor-version":[{"id":305159,"href":"https:\/\/www.transcend.org\/tms\/wp-json\/wp\/v2\/posts\/305156\/revisions\/305159"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.transcend.org\/tms\/wp-json\/wp\/v2\/media\/117880"}],"wp:attachment":[{"href":"https:\/\/www.transcend.org\/tms\/wp-json\/wp\/v2\/media?parent=305156"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.transcend.org\/tms\/wp-json\/wp\/v2\/categories?post=305156"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.transcend.org\/tms\/wp-json\/wp\/v2\/tags?post=305156"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}