Where Switzerland's millionaires live: Zurich, Zug and Geneva named

Ever wondered where the rich live in Switzerland? The most popular locations have been revealed, with Zurich, Zug and Geneva home to the most Swiss top earners.

Switzerland has over 7.600 millionaires

From the shores of Lake Geneva to the low-tax haven of Zug, Blick has analysed which of the 2.100 municipalities (Gemeinden) in Switzerland are home to Swiss millionaires. The assessment is based on data from 2022, when 7.666 people working in Switzerland declared an income of over one million Swiss francs to the Federal Tax Administration (FTA). 

Earning over one million Swiss francs a year is around 12 times the median annual gross salary in Switzerland of 84.288 francs. So what would you do with the money, and where would you choose to live?

Zurich home to the most millionaires in Switzerland

The city of Zurich can proudly take the title of being home to the most income millionaires in Switzerland, with 482 choosing to live in the country’s largest city. Zug takes second place with 431 income millionaires preferring a quieter, lakeside life. Geneva claims third place, with 272 income millionaires living there.

Perhaps impressively, the gap in the number of taxpayers in Zurich and Zug is quite large: 269.617 taxpayers live in Zurich compared to 19.246 in Zug, meaning the concentration of seven-figure salary earners is much higher in the cherry-loving municipality of Zug.

Zug boasts the highest concentration of millionaires

When looking at cantons instead of Swiss municipalities, Zurich remains on top with a total of 2.013 millionaires, Geneva in second (883) and Zug in third (860). However, Zug leads the way as one of the richest cantons in Switzerland, with a concentration of 1,1 millionaires per 100 taxpayers - probably thanks to the area's low Swiss wealth tax rates.

Wollerau, a municipality in canton Schwyz and often popular with expats looking for low-tax municipalities, has the highest density of millionaires in the whole of Switzerland. There, not far from Lake Zurich, 4,4 percent of taxpayers (roughly one in 20 people) declared an income over one million francs.

Top 10 Swiss towns where millionaires choose to live

Here is a list of the municipalities in Switzerland with the most millionaires (number of millionaires with an income of over one million francs):

1. Zurich, Zurich (482)
2. Zug, Zug (431)
3. Geneva, Geneva (272)
4. Freienbach, Schwyz (251)
5. Wollerau, Schwyz (208)
6. Küsnacht, Zurich (194)
7. Basel, Basel-Stadt (164)
8. Zollikon, Zurich (149)
9. Feusisberg, Schwyz (131)
10. Baar, Zug (124)