Abstract We present a new data set we built based on Swiss rich lists going back to 1989. We show, among other things, that 60% of the super-rich are heirs—a fraction twice as large as in the United States—and that wealth mobility at the very top has declined significantly. We find that top 0.01% wealth shares are higher than what previous estimates based on wealth tax statistics suggest. At the same time, we argue that rich list data lead to overestimating wealth inequality. Although rich lists are valuable to study the super-rich, we recommend using reported wealth figures with caution.

Abstract We show that over the 20th century, the ratio of private wealth to national income, βpt, in Switzerland did not follow a U-shaped pattern, thereby contrasting the evolution in most European countries. Instead, the ratio was exceptionally stable at around 500%. We argue that this consistently high βptwas the result of geopolitical factors combined with Switzerland’s capital-friendly policymaking. Since the turn of the century, however, βpthas been on a rapid rise to reach 793% in 2020. This exceptionally fast increase is mainly driven by large capital gains, especially in housing wealth.