The total wealth of billionaires in the world has increased by 121 percent in the last 10 years to $ 14 trillion. In this, the coffers of tech billionaires are filling the fastest. Swiss bank UBS has given this information in its latest report. Switzerland’s largest bank UBS said the number of dollar billionaires has increased from 1,757 to 2,682 in the last 10 years, peaking at 2,686 in 2021, Japan Today reported. UBS’s annual Billionaire Ambition Report states that billionaires have outperformed global equity markets over the past decade.
Tech billionaires’ wealth in 2024
According to the report, between 2015 and 2024, the total wealth of billionaires is expected to increase by 121 percent—from $6.3 trillion to $14.0 trillion—while the MSCI AC World index of global equities rose by 73 percent. The wealth of tech billionaires grew the fastest. After this the wealth of industrialists increased. Worldwide, the wealth of tech billionaires is projected to grow from $788.9 billion in 2015 to $2.4 trillion in 2024. The report found that since 2020, the global growth trend had slowed due to a decline in China’s billionaires.
Condition of billionaires of India and China
The wealth of Indian billionaires increased by 42.1 percent to $905.6 billion, while their number increased from 153 to 185. The wealth of Chinese billionaires more than doubled from 2015 to 2020, rising from $887.3 billion to $2.1 trillion, but has since fallen back to $1.8 trillion. From 2015 to 2020, the wealth of billionaires globally grew at an annual rate of 10 percent, but since 2020 this growth has slowed to one percent.
Billionaires are changing the country
According to the report, billionaires are shifting more frequently. 176 people have moved countries since 2020, with Switzerland, the United Arab Emirates, Singapore and the United States being popular destinations. In 2024, about 268 people became first-time billionaires, 60 percent of whom were entrepreneurs. US billionaires are set to make the most gains in 2024, the report said, cementing the country’s position as the world’s main hub for billionaire entrepreneurs. The wealth of billionaires in mainland China and Hong Kong declined by 16.8 percent to $1.8 trillion, while the number of billionaires fell from 588 to 501. The total wealth of UAE billionaires increased by 39.5 percent to $138.7 billion.
