Billionaires' wealth falls for the first time in a decade

Cornelia Mascio
Novembre 9, 2019

The report also looked into the so-called "billionaire effect", or the pattern of companies controlled by billionaires to produce higher returns.

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.

The world's richest people became a little less well off a year ago, according to a report by UBS and PwC, as geopolitical turmoil and volatile equity markets reduced the wealth of billionaires for the first time in a decade.

Last year, "wealth creation paused as equity markets around the world suffered their worst correction since the 2008 financial crisis", the report reads.

The Americas were the only region where billionaires retained their wealth due to the increased wealth of USA tech entrepreneurs, the report said. Elizabeth Warren, D-Mass., to tax the ultra-wealthy.

Among the 40 Taiwanese billionaires, there was only one woman, who made her fortunes in the real-estate sector and was one of the 11 billionaires newly added to the 2019 report, PwC Taiwan said.

With 16 of Taiwan's billionaires aged over 70, an estimated US$29.8 billion is forecast to be passed on to their heirs over the next 20 years, he said.

Billionaires' wealth fell by $388 billion internationally to $8.539 billion, the UBS/PwC Billionaires Report discovered, with a particularly sharp decrease in Greater China - the second-biggest house for billionaires following the United States - and also the Asia-Pacific area more broadly.

Many billionaires know how to take smart risks, are obsessively focused on their businesses, which allows them to see opportunities others missed, and think longer-term than less wealthy CEOs, the report said.

The number of billionaires in the region dropped from 814 to 754.

The number of billionaires in Singapore last year remained unchanged from the year before at 22. The United States has 99 million people on that ranking, though it still has more millionaires, with about 40 percent of the world's total, according to the report. In the US, billionaires' wealth still nudged up by 0.1 percent, or $4.4 billion, to $3.6 trillion. The calculator included personalized links for Microsoft co-founder Bill Gates, Bloomberg and Cooperman, all of whom have publicly anxious about how their fortunes would fare under her presidency.

"To sum this up, you can say that rich people are less neurotic and less agreeable, but have a higher degree of conscientiousness, are more open to new experience, and more extroverted than the population as a whole", Zitelmann said.

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