Denmark‘s wealthiest citizens are richer than previously estimated, according to analysis of Ministry of Economic Affairs data by Oxfam Denmark.
As the analysis showed, the richest one percent of Danes collectively hold DKK 237 billion more than earlier calculations suggested.
This means that, on average, an individual within this top percentile had assets worth DKK 68.3 million in 2024, or more than DKK 10 million more per person than previously assumed.
‘Significant figures’
“These are some significant figures that clearly show that the size of the wealth of the richest Danes has been underestimated in the statistics,” says Rune Møller Stahl, inequality analyst at Oxfam Denmark.”The new figures provide a better basis for the debate about wealth inequality in Denmark. With such great wealth comes power. And we know from international experience that democracy is challenged when inequality increases.”
As Oxfam noted, the discrepancy arises from a methodological limitation in Statistics Denmark’s wealth register. To maintain discretion, the agency imposed a ceiling on recorded wealth, which stood at DKK 2.07 billion in 2024. Individuals with wealth above this threshold were previously recorded at this maximum value, effectively lowering the estimated total wealth for the ultra-rich.
Total wealth
Following this reassessment, the top one percent now accounts for 29.8% of Denmark’s total assets, and nearly one-third of all societal wealth.
Oxfam Denmark has long advocated for taxation measures targeting the country’s wealthiest citizens, a topic that has formed part of the current election campaign conversations.
“A wealth tax can take the top off the wealth of the richest, and the money can be spent on some of those who have the least in our society,” Møller Stahl added. Read more here.
