Global Billionaire Wealth Reaches Record US$10.2 Trillion

The global billionaire population and their aggregate wealth both reached record highs in 2019, propelled by the technology and health industries, as well as the V-shaped equity market recovery, according to a wealth report released Wednesday.

The number of billionaires reached 2,189 in last year, up from the previous record of 2,158 in 2017. Total billionaire wealth amounted to US$10.2 trillion, surpassing the previous peak of US$8.9 trillion recorded in 2017, according to the annual report titled “Riding The Storm,” compiled by UBS in collaboration with PricewaterhouseCoopers.

The year 2018 saw an annual decline in both the number of billionaires (2,101) and their combined wealth (US$8.5 trillion).

The report is based on data from 43 markets and 60 interviews with billionaires. This year’s report has extended the study period to July 31 from the standard April 7 to reflect the Covid-19 lockdown, UBS said. Read More