Study finds wealth in Germany remains concentrated in men’s hands

A study by Oxfam Deutschland and the Network for Tax Justice has examined for the first time the distribution of billion-euro assets between men and women in Germany. The findings reveal that 71 percent of billion-euro assets are held by men, while only 29 percent belong to women. The study, titled Billions, Power – How the Lack of Wealth Taxation Cements Gender Inequality, highlights how the absence of taxation on high-value assets contributes to financial disparities between genders.

The research indicates that wealth inequality increases at higher levels of net worth, with the gender gap becoming particularly pronounced among the wealthiest individuals. While women hold around 43 percent of total net wealth in Germany, their share of billionaire assets is significantly lower.

Inheritance patterns also contribute to this imbalance. According to the study, male heirs receive around 10 percent more wealth than female offspring when assets are transferred across generations. None of the cases analyzed showed a situation where a woman received a greater share of a company than a male descendant.

The lack of taxation on wealth and inheritance plays a key role in perpetuating this disparity. Women statistically earn lower incomes, accumulate less wealth, and inherit less frequently than men. Meanwhile, corporate assets—often inherited by men—benefit from substantial tax breaks, further widening the financial divide.

Pia Schwertner, Gender Equality Officer at Oxfam Deutschland, emphasized that the discussion on gender equality should extend beyond wage differences. “Equal Pay Day highlights the pay gap between men and women, but we also need to consider wealth inequality. The concentration of wealth among a small group of men comes with significant political and social influence, reinforcing broader gender disparities,” she stated.

Julia Jirmann, a consultant for tax law and policy at the Network for Tax Justice, pointed to tax privileges on high-value assets as a barrier to economic redistribution. She also noted that Germany lacks comprehensive data on gender-based wealth and financial income differences, making it difficult to address the issue effectively.

Ahead of upcoming coalition negotiations, Oxfam Deutschland and the Network for Tax Justice are calling for reforms to inheritance and wealth taxation to promote gender equality. Their proposals include removing exemptions for large assets in inheritance and donation taxes and introducing a billionaire tax of at least 2 percent. The additional revenue, they argue, should be used to expand social infrastructure, such as childcare and eldercare facilities, which disproportionately affect women. They also stress the need for these funds to support global development initiatives aimed at improving conditions for women and girls worldwide.