BILANZ – SwissRichListDataset 1989-2020

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We present a new panel dataset built based on Swiss rich lists published in the BILANZ business magazine over the period, covering the period 1989-2020. Based on this dataset, we characterize the super-rich in Switzerland regarding their gender, average age, the share of managers, the role of foreign-born, and industry composition of top wealth holders over time. While rich lists are valuable to study the super-rich, we recommend using the reported wealth figures with caution.

We show, among other things, that 60% of the super-rich are heirs—a fraction twice as large as in the US—and that wealth mobility at the very top has declined significantly. We find that top 0.01% wealth shares are higher than previous estimates based on wealth tax statistics suggest. At the same time, we argue that rich list data lead to overestimating wealth inequality. While rich lists are valuable to study the super-rich, we recommend using the reported wealth figures with caution.