What unites the economic titans who control 54% of global GDP? The World Elite Database, an international study published by Il Fatto Quotidiano in Italy, reveals an intriguing portrait of elites in 16 countries. Led by Mike Savage of the London School of Economics, 70 researchers immersed themselves in the biographies of 3,543 people who hold the economic levers. From Italian men in their 60s to Britain’s cosmopolitan elite and Norway’s gender breakthroughs, the picture of economic power is a colourful one, but one with clear patriarchal features.
Italy: the local fortress of the patriarchs
In Italy, the economic Olympus has only 336 people: 239 top managers, 33 billionaires and a few regulators. They are mostly men (89%), with an average age of 59. Women, at 11%, appear to be making progress compared to France (8%) or China (7%), but their influence remains negligible. “Italy is moving towards equality, but slowly, like Roman traffic,” ironically says Josella Daniez, a professor at the University of Turin.
Interestingly, the Italian elite is almost exclusively local: 90% were born in Italy, and 12% have no higher education. Doctoral degrees are rare (only 7%), which contrasts with the image of an “educated elite”. These are people who have risen through connections, experience and perhaps charisma rather than academic degrees.
Europe: from Nordic progress to gerontocracy
Northern Europe sets the tone for gender equality. In Norway, 22% of the economic elite are women, and in Sweden, 19%. But even here, there are walls: only 5% of Norwegian leaders are foreigners, making the elite closed to global talent. Poland, on the other hand, surprises with its youth: 7% of its leaders are under 40 years old, and Western education is becoming a pass to the top echelons.
Germany and France are mired in gerontocracy. In Germany, the average age of the elite is 60, and 9% of them are women. France is even older (61) and even less inclusive (8% of women). However, the French are more likely to have doctoral degrees (12%) than the Italians, indicating a greater weighting of academic capital.
Britain: a global cauldron with a London accent
The UK is an economic Babylon. A third of its elite (30%) are foreigners, reflecting the magnetism of London as a financial capital. According to the Financial Times (2024), 40% of CEOs of FTSE 100 companies are non-British, making the island’s elite one of the most globalised. The average age is 58 years and 15% of women are women, which is better than Italy but far from the Norwegian ideal.
Education in Britain is a status: 20% of the elite have a PhD, which contrasts with Italy’s 7%. But 10% of the leaders, like in Italy, did not have a university degree, which underscores the strength of the entrepreneurial spirit. “Britain is a paradox: global, but with strong traditional roots,” says Mike Savage.
Global landscape: old, rich, men
Globally, economic power is a club for older men. The United States is breaking records for gerontocracy: the average age of the elite is 62 years, with 12% of women. China is younger (55 years old), but even more patriarchal (7% of women). Switzerland and Chile, like the UK, welcome foreigners (25-30% of the elite), but the gender balance is lame (10-12%).
Educational profiles add nuance. In Norway and Sweden, PhDs are not in high esteem (5%), but professional skills compensate for this. Poland invests in Western education, while Italy relies on local diplomas or lack thereof.
What does this mean?
The World Elite Database paints a world where economic power remains in the hands of men over 50, but with regional tints. Italy is a local citadel where connections matter more than diplomas. Britain is a global hub, but with gender restrictions. Northern Europe focuses on equality, but not on openness. Poland and China add youth, but not inclusiveness.
This mosaic raises the question: is the economic elite able to adapt to the challenges of the 21st century, from technology to demographic shifts? So far, the answer is disappointing: old models dominate, and breakthroughs are the exception.
Sources:
- Il Fatto Quotidiano (2025): World Elite Database report.
- Financial Times (2024): The globalisation of the British elite.
- The Guardian (2024): Gender barriers in Europe.
- London School of Economics (2025): analysis by Mike Savage.
Author : Marianna Nyzhnia
