The number of billionaires and their collective wealth has surged significantly over the past decade, according to a UBS study. As of April 2024, the global billionaire count stood at 2,682,
marking a 50% increase since March 2015.
Over the same period, their total wealth soared by 121%, reaching $14 trillion—approximately half of the United States’ economic output in 2023.
Wealth Growth Outpaces Market Performance
The study, published on Thursday, highlights that billionaires’ wealth expanded at a faster rate than the MSCI AC World Index, which tracks global equity performance and grew by 73% over the same timeframe.
Regional trends showed variations in wealth accumulation. In China, billionaires experienced rapid growth until 2020, followed by a modest decline. Meanwhile, wealth in the United States grew consistently, with Europe showing steadier but slower growth.
Tech Billionaires Lead the Charge
Technology billionaires saw the sharpest increases in wealth, with their collective fortunes tripling from 2015 to 2024, reaching $2.4 trillion. UBS attributed this boom to advancements in industries such as generative artificial intelligence, cybersecurity, financial technology, 3D printing, and robotics.
Investment Trends Among Billionaires
A survey of billionaires conducted by UBS revealed shifting investment priorities over the next 12 months:
40% plan to increase investments in real estate and equities in industrialized nations.
40% intend to allocate more to safe havens like gold and other precious metals.
31% aim to boost their cash reserves, potentially reflecting concerns over geopolitical risks and high equity market valuations.
UBS’s findings underscore the dynamic nature of billionaire wealth growth and the evolving strategies among the world’s ultra-rich as they navigate a rapidly changing global economic landscape. Photo by Emilian Robert Vicol from Com. Balanesti, Romania, Wikimedia commons.
