The number of Taiwanese billionaires has increased from 35 to 40
10 November, 2019, 00:56
The net wealth of tech entrepreneurs has nearly doubled over five years to $1.3 trillion, with the number of billionaire-controlled tech companies rising from 76 to 148.
Billionaires' companies are also consistently more profitable than companies not run by billionaires, and shareholders have billionaires' shared personality traits to thank, according to UBS and PwC.
"This group has been very good at weathering economic storms and volatility", John Matthews, the Group Managing Director of UBS' Head of Ultra High Net Worth Americas, said at a press event hosted by UBS on Wednesday, "and they outperform in an impressive market".
"This report shows the resilience of the US economy", the place there have been 749 billionaires on the finish of 2018, mentioned John Matthews, head of personal wealth administration and ultra-high web value enterprise for UBS in the US.Whereas a inventory market restoration from a steep drop in late 2018 has helped wealth managers improve their belongings, the world's richest households stay involved about worldwide affairs from commerce tensions and Brexit to populism and local weather change and are persevering with to maintain extra of their cash in money.
"First the EU [European Unuion] action plan for Sustainable Finance, then the UN Sustainable Development Goals have shown the world how individuals and institutions are expected to foster sustainability", Marcel Tschanz of UBS said in the report. They control a combined wealth of $8.5 trillion.
The billionaire boom "has now undergone a natural correction", said Mr Stadler in the report.
The world's richest people became a little less well off a year ago, according to a report by UBS and PricewaterhouseCoopers (PwC), as geopolitical turmoil and volatile equity markets reduced the wealth of billionaires for the first time since 2015.
The Americas bucked the trend, however, largely thanks to tech entrepreneurs, whose wealth rose 3.4% past year to $1.3 trillion. The number of women billionaires increased 46% over the same time period to reach 233, but that's only 11% of the total.
"This phenomenon is most visible in Asia, where 57 percent of female billionaires are self-made", Watanabe said, adding that about 40 percent of them made their money in the consumer and retail industries. Jeremy Corbyn, the leader of Britain's opposition Labour Party, has said that "in a fair society there would be no billionaires". "Millions of jobs have been created by people who take outlandish risks".
But the burgeoning roster of the super-rich feeds into a wider debate about income inequality, which has become a signature issue for presidential hopefuls Sen.
A multitude of studies and books have similarly concluded that billionaires think differently than the majority of the population, and even think differently than millionaires.
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