Bank UBS: Billionaires' wealth more than doubled in ten years
The number of super-rich people and their wealth has risen significantly in ten years: In April 2024, there were 2682 billionaires, according to a study by UBS. That is a good 50 percent more than in March 2015.
05.12.2024, 08:35
SDA
Their total wealth increased by 121 percent to 14 trillion dollars in this period. By comparison, this is around half as much as the total economic output of the USA last year.
The billionaires' wealth rose faster than the MSCI AC World index for global equities, which increased by 73 percent in the same period, according to the study published on Thursday. In China, billionaires saw a steep rise until 2020, followed by a slight decline. In the USA, wealth grew steadily, as did Europe, albeit to a lesser extent.
"Tech billionaires recorded the highest growth in wealth," UBS noted. Overall, their wealth tripled between 2015 and 2024 to 2.4 trillion dollars. The bank speaks of a boom in industries such as generative artificial intelligence, cybersecurity, fintech, 3D printing and robotics.
In a survey, a good 40 percent of the billionaires questioned by UBS said they wanted to invest more in real estate and equities from industrialized countries over the next twelve months. 40 percent wanted to invest more in safe havens such as gold and other precious metals.
31 percent want to increase cash reserves. "This could reflect fears about increased geopolitical risks and equity market valuations," UBS wrote.
