Income of France‘s Ultra-Rich More Than Doubled in Two Decades,New Data Reveals
PARIS – the income of France’s wealthiest 0.1% has surged dramatically over the past two decades, more than doubling between 2003 and 2022, according to a new analysis of tax data released by INSEE, the French national statistics institute.The findings underscore a widening gap between the highest earners and the rest of the population, with the ultra-rich experiencing income growth 2.6 times faster than other French households.
The INSEE study focused on the 40,700 households with the highest declared income in 2022, revealing an exclusive group with an average annual income of €1 million. To qualify for this bracket, individuals needed to declare at least €463,000 in income that year.Half of this income derives from dividends and financial asset revenue, while 38% comes from salaries, wages, and pensions. The group is largely concentrated in the Ile-de-France region, especially Paris and Hauts-de-Seine, and skews older, with an average age of 56 for the primary tax filer.
This concentration of wealth isn’t simply a matter of high earners; it represents a significant shift in economic distribution. Between 2003 and 2022, the average income of this top 0.1% increased by 119% in current euros – a rise substantially outpacing inflation. in contrast,the income of all other tax households grew by only 46% over the same period.
The ultra-rich are a diverse group, encompassing business leaders, heirs, senior executives, legal professionals, artists, athletes – including 36 professional footballers from Ligue 1 identified in 2023 data – and models. notably, 82% of these households are married or in a civil partnership, compared to 32% of other French households.
