Spain adds 13,100 new millionaires in 2025 and climbs to 14th worldwide
Spain now has 259,700 millionaires and ranks 14th globally, according to Capgemini. The figure contrasts with 25% of the population at risk of poverty. Analysis and more.
English · Original discussion in Spanish · Published
More millionaires than ever, but with 25% at risk of poverty: the Spanish paradox
While 25% of Spain's population lives at risk of poverty, the number of large fortunes is breaking records. According to Capgemini's 2026 World Wealth Report, Spain has reached 259,700 millionaires, after adding 13,100 new ones in the past year. The country thus climbs to 14th place in the global ranking of investable wealth above one million dollars.
The report's figures
The report, cited by El Debate, Expansión and EFE, reveals that the combined financial wealth of these fortunes has also grown. However, the figure has raised skepticism: several analysts point out that the 259,700 figure could be an underestimate and that Spain's tax agency (Agencia Tributaria) is failing to detect hundreds of thousands of people with similar wealth. The definition of "large fortune" excludes the primary residence, which leaves out many property-based fortunes.
Political and economic readings
The political interpretations were not long in coming. Some see the increase as proof that the Government's tax policies – which boast about raising taxes on the rich – are not working: millionaires are richer than ever, and some even suggest that socialism favors the rich. Others see it as a global phenomenon driven by asset inflation and the rise of new digital fortunes, rather than by any real improvement in the domestic economy. Public debt keeps growing and the productive model raises doubts.
The shadow of inequality
The paradox is evident: the same country that is breaking millionaire records has one of the highest poverty rates in Europe. A parallel debate points out that the middle class is shrinking, polarizing society between rich and poor. The rise in millionaires coexists with job insecurity and the loss of purchasing power among middle incomes.
How long can this duality last? The risk that the financial wealth bubble will deflate or that tax pressure will end up driving away large fortunes is real. But for now, Spain remains a good place to become a millionaire.
Related debates in the forum
While 25% of Spain's population lives at risk of poverty, the number of large fortunes is breaking records. According to Capgemini's 2026 World Wealth Report, Spain has reached 259,700 millionaires, after adding 13,100 new ones in the past year. The country thus climbs to 14th place in the global ranking of investable wealth above one million dollars.
The report's figures
The report, cited by El Debate, Expansión and EFE, reveals that the combined financial wealth of these fortunes has also grown. However, the figure has raised skepticism: several analysts point out that the 259,700 figure could be an underestimate and that Spain's tax agency (Agencia Tributaria) is failing to detect hundreds of thousands of people with similar wealth. The definition of "large fortune" excludes the primary residence, which leaves out many property-based fortunes.
Political and economic readings
The political interpretations were not long in coming. Some see the increase as proof that the Government's tax policies – which boast about raising taxes on the rich – are not working: millionaires are richer than ever, and some even suggest that socialism favors the rich. Others see it as a global phenomenon driven by asset inflation and the rise of new digital fortunes, rather than by any real improvement in the domestic economy. Public debt keeps growing and the productive model raises doubts.
The shadow of inequality
The paradox is evident: the same country that is breaking millionaire records has one of the highest poverty rates in Europe. A parallel debate points out that the middle class is shrinking, polarizing society between rich and poor. The rise in millionaires coexists with job insecurity and the loss of purchasing power among middle incomes.
How long can this duality last? The risk that the financial wealth bubble will deflate or that tax pressure will end up driving away large fortunes is real. But for now, Spain remains a good place to become a millionaire.
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Summary of a discussion on Burbuja.info - Foro de economía, actualidad y política., translated from Spanish and reviewed before publication. Read the full discussion (31 replies).
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