Spain’s millionaire population hits 260,000, Spanish PM to join pope at migrant meeting in Canary Islands, 6 in 10 young Spaniards believe they won’t progress in life and more news on Friday June 5th.
Manager of crypto platform arrested in Spain
Spanish authorities said Thursday they have arrested a senior manager of the now-defunct crypto trading platform OmegaPro, which allegedly defrauded investors of about $650 million.
Officers detained the unidentified man at a hotel in Tenerife in Spain’s Canary Islands after routine checks aimed at tracking individuals wanted under international arrest warrants, the Civil Guard said in a statement.
The suspect is believed to have held a top management role within OmegaPro and was wanted by the FBI, the statement added.
OmegaPro, a cryptocurrency and foreign-exchange investment platform that promised investors returns of up to 300 percent, has been accused by US prosecutors of operating a $650-million global fraud that combined elements of a Ponzi scheme and a pyramid-style recruitment system.
Authorities allege OmegaPro used aggressive advertising campaigns, including promotional appearances by internationally known football players, to attract investors.
Spanish PM to join pope at migrant meeting in Canary Islands
Spanish Prime Minister Pedro Sánchez will accompany Pope Leo XIV at a meeting with migrants in the Canary Islands next week, as the pontiff uses his visit to Spain to highlight their plight, authorities said on Thursday.
The Atlantic archipelago off northwestern Africa is one of the main entry points into Europe for people fleeing conflict and poverty who arrive after a long and often deadly sea route.
Leo will visit the islands of Gran Canaria and Tenerife on June 11-12 in the final leg of his week-long trip, which begins in Madrid on Saturday and includes a stay in Barcelona.
Sánchez will receive Leo in Gran Canaria on June 11 and join him at the port of Arguineguín for an encounter with migrants as well as volunteers and workers who support them, the central government’s delegation in the Canary Islands said.
6 in 10 young Spaniards believe they won’t progress in life
Sixty percent of young people in Spain believe that there are external circumstances and conditions that hinder and prevent their progress, such as job insecurity and instability, even though they strive to achieve their goals.
More than two thirds (67 percent) believe that giving up is not an option and that effort is key to success, but they recognise that there are many difficulties that are beyond their control.
These are some of the findings from the ‘First Barometer of Challenges and Learning. Youth perspectives on educational and professional challenges’, conducted by youth welfare foundation. Fad Juventud.
It reflects how pessimistic young Spaniards are about their future in general in their home country, and reveals that educational and employment decisions are “strongly conditioned” by the need for short-term income, family pressure and the perception of an unstable and precarious labour market.
This forces them to prioritise “what is possible over what is desirable”.
Spain’s millionaire population increases to 260,000
In Spain, the number of people with a net worth exceeding $1 million has grown by 5 percent in the last year.
The number of millionaires in the country now stands at approximately 260,000, representing a year-on-year increase of 13,000.
These figures come from the latest Global Wealth Report 2026, which points out that the reasons behind this increase include the strong performance of the stock markets, as well as the banking and real estate sectors, in a context of sustained inflation.
According to the report, Spain has risen one place in the global wealth ranking, reaching number 14.
With additional reporting by AFP.
