Dutch billionaires grow richer, widening wealth gap
The wealth of the Netherlands’ richest citizens continues to rise sharply, even as ordinary Dutch workers pay "disproportionately" higher taxes, according to a new Oxfam report.
The Netherlands’ wealthiest 0.1 percent now pay an effective tax rate of 20 percent on their income, compared with 40 percent for the majority of workers. Oxfam said the government has long failed to implement a legally sustainable wealth tax that would fairly target the country’s richest individuals.
“These enormous inequalities are no accident,” said Bram Joanknecht, Oxfam’s expert on economic inequality. “They result from political and economic choices by governments that favor the super-rich. In the Netherlands, wealth is extremely unevenly distributed, and the government still has not implemented a fair system to ensure the super-rich pay their share.”
The report highlights that income for the Dutch ultra-wealthy largely comes from investment growth and complex corporate structures, which are taxed far less than wages.
Oxfam urged the Dutch government to quickly enact taxes on large fortunes and inheritances to secure funding for health care, education, and infrastructure. “Seven out of ten Dutch people believe the super-rich in our country should pay more tax,” Joanknecht said. “We must stop delaying and take action now.”
Across the European Union, super-rich individuals generally face much lower effective taxes than ordinary citizens, a trend also seen in Belgium, Spain, Italy, and France.
In the EU, the number of billionaires rose to 487 in March 2025, with their combined wealth increasing by over 400 billion euros in six months. By comparison, ordinary Europeans contribute 80 percent of total EU tax revenues, while corporate taxes account for 9 percent and taxes on super-rich wealth just 0.4 percent.
Oxfam proposed a European wealth tax of up to 5 percent on multi-millionaires and billionaires, which could generate roughly 286.5 euros billion annually — enough to cover the European Commission’s proposed new EU budget.
Joanknecht said the Dutch government should align with such measures, stressing that “every week, new billionaires appear in Europe while millions struggle to make ends meet. It’s essential that Dutch policymakers act to tax extreme wealth fairly.”
