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Number of billionaires worldwide rises again this year - report


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#1 Yervant1

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Posted 18 September 2014 - 09:42 AM

Yet again they forgot to put my name on the list! :P

17:31 18/09/2014 » SOCIETY

Number of billionaires worldwide rises again this year - report

The number of billionaires in the world has grown to 2,325, rising by 155, or 7 percent, between June 2013 and June 2014, according to the second-annual Billionaire Census survey published by Swiss financial services company UBS AG, RIA Novosti reported.
The overall wealth of the world’s billionaires rose by 12 percent, reaching a record 7.3 trillion USD, or about 4 percent of total global wealth.
The study’s profiling of the “average billionaire” found that the typical billionaire is worth about 3.1 billion USD, is 64 years old, and male. Sixty percent of male billionaires are self-made, compared to 35 percent among women. There were only 286 female billionaires on the list, or about 12.5 percent.
About a third of the billionaires do not have a post-secondary education.
The top ten countries in terms of the number of billionaires are the US with 571, China with 190, the UK with 130, Germany with 123, Russia with 114, India with 100, Switzerland with 86, Hong Kong with 82, Brazil with 61, and Saudi Arabia with 57.
The top cities for billionaires include New York with 103 and Moscow with 85, followed by Hong Kong, London and Beijing.
By region, Europe’s 775 billionaires edged out North America this year, with 2.375 trillion USD in aggregate wealth, compared with North America’s 2.371 trillion USD, held by 609 people.
The billionaires amassed their fortunes in a number of different ways: 19 percent of billionaires did so through finance, banking, and investment, 12 percent made their money through business and industrial conglomerates, and 5 percent became wealthy through real estate.
When it comes to the distribution of billionaires’ assets, about 47 percent of their wealth is held in privately-owned businesses, 29 percent is invested in public companies, 19 percent is in cash, and 5 percent of their combined assets are in real estate and luxury assets.
Despite the global economic downturn and the ongoing fallout from the crisis that began in the late 2000s, the number of billionaires continues to grow as wealth continues to become more concentrated.
The UBS report says that in its best case scenario, there will be over 4,100 billionaires by 2020, 78 percent more than today. Even given its worst case scenario, the figure will still rise to 3,600, or by 56 percent.
Noting the concentration of wealth among the super wealthy, the study notes that “between 2011 and 2013, the growth of the wealth of the world’s billionaires accounted for 40 percent of the growth in total ultra-high net worth (UHNW) wealth –although billionaires only comprise 1 percent of the global UHNW population.” 
 

Source: Panorama.am

 

 






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