Swiss Billionaire Says the Rich Should Pay More Taxes

Post by : Saif Nasser

A leading Swiss billionaire, Alfred Gantner, has sparked national debate after calling for higher taxes on the wealthy. His remarks came just one day after Swiss voters overwhelmingly rejected a proposal to introduce a 50% inheritance tax on fortunes above 50 million Swiss francs ($62 million). Although the referendum was widely expected to fail, the strength of the rejection — more than 78% voted against it — surprised many observers.

Gantner, co-founder of the global private equity firm Partners Group, told the Swiss newspaper Tages-Anzeiger that the growing gap between the rich and ordinary citizens was becoming a serious problem. He said it was troubling that wealthy individuals were accumulating massive fortunes while many people in Switzerland struggled to pay for basic expenses like rent and health insurance. According to him, this imbalance was dangerous and needed to be addressed before it worsened in the future.

The billionaire explained that if no action was taken, the world would see even larger fortunes grow among people like Elon Musk, Mark Zuckerberg, and others — including himself. He admitted that luck plays a major role in becoming extremely rich, and for that reason, the rich must be willing to contribute more to the country that helped them succeed.

However, Gantner argued that inheritance taxes were not the right solution. He said such taxes could easily be avoided through financial planning and loopholes, which means they would not actually solve the problem. Instead, he proposed a progressive wealth tax that increases as a person’s fortune rises. For example, he suggested a 1% annual tax on wealth above 200 million francs, 1.2% for fortunes above 500 million, and 1.5% for those worth more than 1 billion francs. This, he said, would be a fairer and more effective way to ensure wealthy people contribute to society.

Switzerland is one of the world’s major wealth management centers, and government data shows that around 2,500 people in the country have assets worth more than 50 million francs. Despite this, the public clearly rejected the idea of a heavy inheritance tax, signaling resistance to policies that heavily target the wealthy. Many Swiss voters fear such measures could harm the country’s economic stability or drive rich individuals and businesses away.

Gantner himself, ranked number 1045 on the 2025 Forbes Billionaires list with an estimated net worth of $3.5 billion, believes that Switzerland needs a smarter, long-term approach. Apart from tax matters, he is also campaigning against a proposed agreement that would bring Switzerland into closer economic alignment with the European Union. His views often influence public debate, given his financial success and high profile.

His latest comments have added fuel to Switzerland’s ongoing discussion about fairness, economic opportunity, and how to manage wealth in a changing world. While voters have made their stance clear on the inheritance tax, the question of how to create a more balanced and sustainable economic system remains open — and voices like Gantner’s ensure the debate will continue.

#World News #Global Updates #Global Global News world news #Globle News Network