The wealth of the world's billionaires has increased by 121% in the last ten years

The wealth of the world's billionaires has increased in the last ten years, according to data from a study published yesterday by the Swiss banking group UBS AG, according to DPA.

According to UBS, in April 2024 there were 2,682 billionaires worldwide, about 50% more than in March 2015. Their total wealth increased by 121%, to 14,000 billion dollars between March 2015 and April 2024, amid a 73% advance in the global securities index, notes Agerpres.

The wealth of billionaires increased significantly in the United States and, to a lesser extent, in Europe, while China recorded strong growth until 2020 and a slowdown since then.

The wealth of tech billionaires has grown the fastest in the past decade, tripling to $2.4 trillion, driven by new technologies including artificial intelligence (AI), cybersecurity, fintech, 3D printing and robotics.

• UBS: 40% of billionaires want to invest more in real estate and securities in industrialized countries

A survey of 82 billionaires conducted by UBS between June and September 2024 found that 40% of them say they want to invest more in real estate and securities in industrialized countries in the next 12 months. Another 40% want to increase their holdings in safe-haven assets such as gold and other precious metals, and the rest want to increase their cash reserves.

"This data could reflect concerns about escalating geopolitical risks and valuations in the securities market," the report said.

In addition, billionaires are increasingly mobile, with one in 15 having relocated since the pandemic, seeking political stability, good healthcare systems and good schools.

Countries that have seen an influx of billionaires include Switzerland, Singapore, the United Arab Emirates (UAE) and the United States.