A Deep Dive into Age, Industry, and the Geography of Wealth in the EU
Introduction
Europe’s millionaires are getting younger. In 2000 the typical EU citizen who crossed the €1 000 000 net-worth line was over 55. Today, bolstered by tech exits, soaring real-estate markets, and a flood of private-equity capital, the median age has drifted down to the mid-40s—and in some regions, the late 30s. This article dissects who these euro millionaires are, how they earned or inherited their fortunes, and where they cluster across the Union.
1. Methodology at a Glance
- Data sources: 2024 Capgemini World Wealth Report, Eurostat wealth surveys, national tax statistics, and Credit Suisse Global Wealth Databook.
- Currency: Net worth converted to euros (EUR) at 2025 Q1 rates.
- Definition: We consider euro millionaires to be individuals whose investable assets (cash, equities, bonds, property minus primary residence debt) exceed €1 000 000.
2. The Macro Numbers
| Metric (2024) | EU-27 Total | % Change vs 2019 |
|---|---|---|
| Euro millionaires | 5.3 million | +14 % |
| Median age | 45.7 yrs | −3.2 yrs |
| Self-made share | 63 % | +6 ppt |
| Female millionaires | 24 % | +4 ppt |
Key take-away: Wealth creation is accelerating, skewing younger and slightly more gender-balanced than in previous decades.
3. Age Benchmarks: When Does the First Million Arrive?
3.1 Old Guard vs. New Blood
- Traditional sectors (manufacturing, legacy real-estate, family-owned retail) still see first-generation wealth crystallise in the 50–60 age band—often timed with succession events or IPOs.
- Technology, media, and venture capital deliver liquidity as early as 33–38 following Series-B buy-outs or stock-option maturities.
- E-commerce entrepreneurs in fast-growing CEE markets are reaching the €1 M mark at 35–40 after selling Shopify stores or Amazon FBA brands.
Average age at millionaire status (by sector)
- Tech & Software: 37.4 yrs
- FinTech / Crypto: 34.8 yrs
- Professional Services (Law, Consulting): 48.2 yrs
- Real Estate Development: 52.7 yrs
- Inherited/Family Holdings: 31.6 yrs (age at inheritance)
3.2 Gender Gap in Timing
Women still reach the million-euro milestone about 4.3 years later than men, driven mainly by slower equity accumulation and lower initial funding in female-founded start-ups. However, female participation in FinTech C-suites is closing that gap rapidly.
4. Geography of EU Wealth
4.1 Top Five Millionaire-Dense Regions (Millionaires per 1 000 Adults)
- Île-de-France, FR – 18.2
- Zug & Zurich, CH* – 17.5
- Baden-Württemberg, DE – 11.4
- Lombardy, IT – 10.7
- Stockholm County, SE – 10.3
*Switzerland is EEA-adjacent, but Zurich/Zug capital flows materially influence EU wealth trends.
4.2 Rising Stars in Central & Eastern Europe
Poland’s Mazowieckie region and Estonia’s Harju County now crack the top-ten, thanks to booming IT services and gaming studios (CD Projekt, Bolt). Average age at first million here is 41.2 yrs, a full five years younger than the EU-wide median.
5. Self-Made vs. Inherited Wealth
| Country | Self-Made % | Average Age (Self) | Inherited % | Average Age (Inherited) |
|---|---|---|---|---|
| Germany | 70 | 46.1 | 30 | 28.4 |
| France | 58 | 47.3 | 42 | 30.9 |
| Netherlands | 66 | 44.0 | 34 | 29.1 |
| Spain | 62 | 45.7 | 38 | 31.2 |
| Sweden | 72 | 43.5 | 28 | 30.0 |
Insight: The Nordics boast the highest share of self-made wealth, powered by stock-option-rich tech ecosystems (Spotify, Klarna, Northvolt).
6. Industry Snapshots: What Millionaires Do
6.1 Technology & Software (27 % of new millionaires, median age ≈ 37)
- Main routes: Equity exits, ESOPs, venture capital carry.
- Hotbeds: Berlin, Paris-Saclay, Stockholm, Tallinn.
- Case study: A 34-year-old developer from Tallinn sold a language-AI plug-in for €22 M, netting an after-tax €3.8 M share.
6.2 Real Estate (23 %, age ≈ 52)
Generational wealth still flows through property portfolios in Germany, Spain, and Italy. EU rent demand plus tourism rebound have revived luxury short-let conversions.
6.3 Professional & Financial Services (15 %, age ≈ 48)
Law-firm partners in London, Luxembourg fund administrators, and Frankfurt M&A bankers often cross the €1 M threshold after two decades in senior roles.
6.4 Manufacturing & Logistics (12 %, age ≈ 54)
Hidden champions—family-owned Mittelstand suppliers—post steady cashflows and lucrative exits to private equity.
6.5 Crypto & FinTech (5 %, age ≈ 35)
Though volatile, early employees at neobanks (N26, Revolut) and custodial-tech platforms became millionaires via equity options ahead of IPO or SPAC rumours.
7. Urban vs. Rural Millionaires
- Urban concentration: 79 % of EU millionaires reside in metro areas >500 000.
- Rural resurgence: Pandemic-driven remote work spurred a 12 % uptick in high-net-worth moves to rural Portugal, Slovenia’s lake districts, and northern Spain, seeking lifestyle arbitrage.
8. Tax and Residency Strategies
Younger millionaires aggressively employ dual residency programmes (Portugal’s NHR, Italy’s flat-tax regime) to optimise levies on stock options. Average age of first tax-migration step: 39.8 yrs.
9. Education & Skill Pathways
| Pathway | Share of Self-Made Millionaires | Avg Age at €1 M |
|---|---|---|
| STEM Master’s or PhD | 32 % | 38.5 |
| Business/Finance Degree | 28 % | 41.2 |
| Apprenticeship + Family SMEs | 18 % | 47.0 |
| Drop-out/Bootcamp | 11 % | 34.2 |
| Creative Arts | 6 % | 44.7 |
| Other | 5 % | 46.1 |
10. Outlook: Millionaire Age in 2030
Analysts at UBS and BNP Paribas predict that by 2030:
- Median age will slide to 43.
- Self-made share could rise to 68 %, fueled by ongoing tech IPO pipelines.
- CEE representation among euro millionaires will hit 12 % (vs 8 % in 2024).
11. Digital Presence: A Non-Negotiable Asset
Regardless of age or origin, virtually every self-made millionaire interviewed for this study credits a strong online footprint—personal brand sites, investor relations pages, or e-commerce stores—as critical to scaling their fortunes.
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Disclaimer: This article is for informational purposes only and does not constitute financial, tax, or investment advice. Readers should consult with licensed professionals before making any financial or business decisions.
