Global billionaire population reaches 2,170 billionaires; Asia fastest-growing region

According to the Wealth-X and UBS Billionaire Census 2013, Asia has recorded the largest increase in its billionaires club in the world adding 18 new billionaires in 2013, making it the fastest-growing region. The study was centred solely on persons with a net worth of $ 30 million and above.

 As per the report: 

  • Asia witnessed the highest percentage increase in billionaire population (3.7% from 2012) and total wealth (13%) in 2013, making it the fastest-growing region.
  • Within 5 years, Asia would catch up with North America in terms of number of billionaires.
  • Asia has 44,505 ultra-high net worth individuals, whose total wealth amounted to USD 6,590 billion.
  • The total number of billionaires in the world reached a record 2,170 individuals in 2013. The average net worth of the world’s billionaires was at USD 3 billion.
  • The combined net worth of the billionaires’ population became two-fold from $ 3.1 trillion in 2009 to $ 6.5 trillion in 2013 – enough to fund the US budget deficit until 2024, and larger than the GDP of every nation except the US and China.
  • Europe has highest number of billionaires (766 individuals).
  • North America has the most billionaire wealth (USD 2,158 billion).
  • Around 60% of billionaires are self-made, while 40% inherited their wealth or grew their fortunes from inheritance.

Only 17% of female billionaires are self-made, while 71% gained their fortunes through inheritance.

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Categories: Business & Economy Current Affairs 2017International Current Affairs 2017

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