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The number of people in Türkiye with a net worth of at least $30 million rose by 94% over the past five years, placing the country among Europe’s fastest-growing markets for ultra-wealthy individuals, according to a report.
Türkiye has 4,208 individuals with fortunes above $30 million in 2026, compared with significantly lower levels five years earlier. The country added 2,034 new ultra-wealthy residents during the period, according to a Euronews report based on the Knight Frank’s 2026 Wealth Report.
Türkiye ranked among the countries with the sharpest growth rates in Europe, following Poland, where the ultra-wealthy population expanded by 109%. Romania followed Türkiye with a 93% increase.
Germany remained Europe’s largest center for ultra-wealthy individuals with 38,215 residents holding fortunes above $30 million. The United Kingdom followed with 27,876, while France ranked third with 21,528. Switzerland and Italy rounded out the top five with 17,692 and 15,433, respectively.
Among other major European economies, Spain recorded 9,186 ultra-wealthy residents, Sweden had 6,845, and the Netherlands counted 5,077. Türkiye ranked ahead of Austria and Poland in total numbers, while Russia—listed separately from EU and European Free Trade Association (EFTA) countries—recorded 8,399 ultra-wealthy individuals.
The report noted that countries with smaller ultra-wealthy populations often recorded faster percentage growth. Still, several major economies also saw notable increases, including Spain at 42%, Germany at 32%, Italy at 23% and France at 21%. The United Kingdom posted a 12% rise, while Sweden recorded the slowest growth at 8%.
Knight Frank stated that wealth across Europe was becoming more geographically widespread rather than remaining concentrated in a few traditional financial hubs.
Liam Bailey, Knight Frank’s global head of research, said the world was witnessing one of the biggest shifts in wealth distribution in modern history. While the United States remained the dominant force, he noted that emerging economies were increasingly influencing global wealth trends.
The report also highlighted rising taxes and tighter regulations as drivers of global wealth mobility, with many ultra-wealthy individuals increasingly spreading assets, businesses and lifestyles across multiple countries.
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