THE GLOBAL BILLIONAIRE POPULATION AND ITS WEALTH INCREASED STRONGLY IN 2019.
Here some of the highlights of the report to help you understand where the wealth is coming from and its movements throughout the globe.
NORTH AMERICA AND ASIA SAW THE STRONGEST GROWTH IN BILLIONAIRE NUMBERS AND COLLECTIVE NET WORTH.
Both regions enjoyed double-digit growth on both measures. There were below-average, but still healthy, gains in billionaire wealth in Europe, the Pacific and Africa.
In contrast, wealth creation in the Middle East and Latin America and the Caribbean was subdued, with declines in the overall billionaire population.
BILLIONAIRES’ NET WORTH HAS BEEN AFFECTED SIGNIFICANTLY BY THE FALLOUT FROM COVID-19.
Not all billionaires are created equal. The number of billionaires in technology, insurance, business services and healthcare grew by between 6% and 9% during the first five months of 2020 compared with 2019. Billionaires in shipping, apparel (including luxury) and aerospace experienced the worst performances.
BILLIONAIRES PLEDGING TO THE COVID-19 CAUSE DIFFER FROM BILLIONAIRE MAJOR PHILANTHROPISTS.
The former tend to be younger, wealthier and more likely to have created their own wealth — largely a reflection of a significantly greater representation of those with technology as their primary industry. Major philanthropists tend to be older and are more likely to be attached to the banking and finance sector.
The number of billionaires rose by 8.5% to 2,825 individuals,while their combined wealth was boosted by 10.3% to total $9.4trn — more than reversing the previous year’s decline. Despite a loss of momentum in the global economy and a still turbulent geopolitical environment, financial markets saw a bullish performance on the whole.
CHINA RECORDED THE STRONGEST GROWTH IN BILLIONAIRE POPULATION AND COMBINED WEALTH.
The US also showed robust growth and remains by far the dominant billionaire country, accounting for 28% of the global billionaire population. The top 15 countries are home to more than three-quarters of the world’s billionaires — all but one (the UAE) recorded an increase in their billionaire population and cumulative wealth in 2019.
MORE THAN 10% OF BILLIONAIRES MADE A PLEDGE IN THE FIGHT AGAINST COVID-19 IN THE PERIOD JANUARY-MAY 2020.
Other giving was in the form of non-monetary commitments or was made anonymously. Philanthropy is the favorite passion of many billionaires, followed by sports, aviation and politics. The wealthy, and the wealthiest in particular, have been expected to step up during this time of crisis.
The complete report can be obtained at www.wealthx.com
