The Money Makers: Number Of Billionaires Worldwide Rises 10%

The Money Makers: Number Of Billionaires Worldwide Rises 10%
Bill Gates, world’s richest man

A new report has revealed that the total number of billionaires around the world has risen as much as 10% from 2015.

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Swiss banking giant UBS and auditors PwC revealed on Thursday that
the number of billionaires worldwide rose above 1,500 last year, a 10
percent jump from 2015, due largely to a surge in Asia.
In an annual report, UBS and PwC said that last year marked the
first time it recorded more billionaires in Asia (637) than in the
United States (563), crediting the rise of China’s entrepreneurs.
Europe took third spot in the report’s billionaire database with 342.

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The total wealth controlled by the ultra-rich group also shot up to
$6 trillion (5.1 trillion euros), marking a 17 percent rise on the
previous year when billionaire wealth actually shrank, the report said.
The group of 1,542 billionaires either owns or partly controls companies that employ 27.7 million people, it added.
While the chasm between the world’s rich and poor remains a burning
political issue across the continents, UBS and PwC said that
billionaire assets are increasingly likely to benefit the needy.

“Looking further forward, we estimate that $2.4 trillion (2.1
trillion euros) of billionaire wealth will be transferred in the next
two decades as billionaires age, with a significant amount going to
philanthropic causes,”
the report said.
Three-quarters of those who newly became billionaires in 2016 were from China and India, the findings showed.

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