German Billionaires Need to Come in From the Cold
Negative views about wealth are exacerbating the nation’s malaise; a more positive vision is needed.
Germany’s aversion to displays of wealth is hobbling its business culture.
Photographer: Sean Gallup/Getty Images
Friedrich Merz, the frontrunner to become Germany’s next chancellor, has an eye-catching fix for the country’s economic malaise: Germans should draw inspiration from successful business owners and high earners rather than denigrating them. In other words, the leader of the conservative Christian Democrats wants Germany to become more like the US.
As is often the case with the gaffe-prone, short-tempered Merz, his recent comments to German tabloid Bild could have been more nuanced — people who work long hours in low-paid jobs deserve as much respect as those at the top of the income scale. Yet I’m convinced negative German attitudes about money and wealth are holding back an economy facing massive structural challenges and a second year of contraction — a transformation that won’t happen without more visible role models. It’s time Germany’s super rich stepped out from the shadows and inspired more people to start a business and — gasp! — make money.