A prominent Swiss billionaire has called for higher taxation on the wealthy following Switzerland’s overwhelming rejection of a proposed 50% tax on inherited fortunes of 50 million Swiss francs ($62 million) and above.
Alfred Gantner, co-founder of private equity firm Partners Group, highlighted the growing concentration of wealth as a global issue in remarks published Monday in the Swiss newspaper Tages-Anzeiger. Gantner, who also goes by Fredy, stated, “It can’t be that a few people in this country have huge fortunes and others don’t know how they’re going to pay their health insurance and their rent.”
He warned that if left unchecked, prominent figures such as Elon Musk, Mark Zuckerberg, and even himself could accumulate significantly more wealth over the next two decades.
Switzerland is a major hub for wealth management, with roughly 2,500 taxpayers holding assets above 50 million francs, according to Swiss tax authorities. Despite polls forecasting closer results, more than 78% of Swiss voters rejected the proposed inheritance tax in a referendum held Sunday.
Gantner acknowledged that inheritance taxes are not the solution, noting they can be easily circumvented. Instead, he advocated for a system of progressive wealth taxation. “For example, one could say that above 200 million Swiss francs, taxes of 1% are due. At half a billion, it would be 1.2%, at one billion, 1.5%, and so on,” he suggested, emphasizing fairness and long-term economic balance.
The billionaire also expressed concerns about Switzerland deepening its economic ties with the European Union, urging caution on agreements that could impact national policy. Currently ranked number 1045 on the 2025 Forbes Billionaires list, Gantner has an estimated net worth of $3.5 billion.
By calling for higher wealth taxes, Gantner positions himself among a small number of ultra-wealthy individuals advocating for systemic measures to reduce inequality. His stance underscores a broader debate on how countries can balance economic growth with social equity while addressing the increasing concentration of wealth in a globalized financial system.
