In the decade from 2015 to 2024, the billionaires' wealth has reached extraordinary levels. According to theUbs Billionaire Ambitions Report 2024, the number of global Scrooges increased by 50%, from 1.757 to 2.682, while their total wealth has more than doubled, reaching a whopping 14 trillion dollars. In Italy, the number of super-rich increased by 10,7%, from 56 to 62, while their total assets nearly reached $200 billion, marking one of the most impressive growths in Europe.
Billionaires' wealth doubles (+121%) in 10 years
Overall, from 2015 to 2024, the Total wealth of billionaires increased by 121%, going from 6,3 trillion to 14 trillion dollars. An impressive figure, especially when compared to the MSCI AC World index, which in the same period grew by only 73%. This extraordinary increase in wealth was supported not only by the consolidation of the fortunes of Chinese billionaires, but also by the growing wealth of North American billionaires and from some emerging markets, such asIndia.
The wealth of North American billionaires has seen significant growth. Between 2015 and 2020, it increased by 52,7%, from $2,5 trillion to $3,8 trillion. From 2020 to 2024, the wealth of North American billionaires increased by 58,5%, reaching $6,1 trillion, driven by sectors such as industrial and technological.
Europe Slows Down, India Takes Off: The New Era of Billionaires
In Europe, the growth of billionaire fortunes has shown signs of slowdown starting in 2020, partly due to rising interest rates. From 2015 to 2020, the wealth of European billionaires increased by 43,6%, from $1,5 trillion to $2,1 trillion. However, from 2020 to 2024, growth slowed to 29%, with wealth reaching $2,7 trillion. The main driving force behind this growth was technology, particularly in the fields of software, messaging and music streaming.
In contrast to Europe, theIndia has seen an exponential growth in its billionaire community. Now, Indian billionaires are ranked third globally in terms of total wealth, after the United States and China, a clear sign of the country's economic growth.
La China, on the other hand, has been a key player in the growth of billionaires over the past 10 years. From 2015 to 2020, the wealth of Chinese billionaires increased by 137,6%, from $887,3 billion to $2,1 trillion. However, from 2020 to 2024, there was a 16% decline, with total wealth falling to $1.800 trillion. Although the number of billionaires increased from 339 in 2015 to 501 in 2024, Beijing is the only country with a very high turnover rate among billionaires, with many people entering and exiting the list each year. This phenomenon is linked to factors such as tightening regulations and the common prosperity campaign, which have slowed the rise of Chinese billionaires.
Italian billionaires on the rise: here are the super-rich
In Italy, the number of billionaires increased significantly from 2023 to 2024, going from by 56 to 62, an increase of 10,7%. 8 new billionaires were registered, while 2 lost the status. In terms of ., Italian billionaires have seen an impressive growth: it has risen from $162,3 billion to $199,8 billion, with a growth of 23,1%, one of the highest in Europe, bringing the overall wealth of Italian billionaires to around 200 billion dollars (8,4% of GDP). This phenomenon reflects the growing attractiveness of Italy for the super-rich, also thanks to favorable tax policies but also the growing polarization of wealth, which in our country is accentuated by the fact that approximately 60% of billionaires are “self-made”, that is, they have built their fortune with companies of their own foundation, but in Western Europe half of the billionaires are heirs of family dynasties.
In detail, among the prominent Italian billionaires are: John Ferrero (with a net worth of $43,8 billion), Andrea Pignataro, Giorgio Armani and family members Ferrari. Other famous names follow such as Giancarlo Devasini, Piero Ferrari, Maximilian Landini Aleotti, Sergio Stevanate, Patrician Bertelli e Miuccia Prada, and Giancarlo Rocca. In this group there are also other characters from the fashion world such as Domenico Desserts e Stefano Gabbana and the media as Marina e Piersilvio Berlusconi. Recently, the founders of Tether and the Ion Group also joined the list.
Where do billionaires live?
An interesting aspect is the growing emigration of billionaires. From 2020 to 2024, 176 billionaires have moved countries, almost one in fifteen. This phenomenon is not only related to tax reasons, but also to the search for security, quality education and a stable political environment. In addition, many billionaires move to countries that offer a favorable business environment, a factor that is becoming increasingly important in an increasingly unstable geopolitical context.
In detail, most of the billionaires reside in the Usa (43%), followed byEurope (21%) and from Southeast Asia, which includes India (15%). The sectors that contribute the most to billionaires' wealth are consumer goods, retail, and materials, but the technology and financial sectors are also growing rapidly. In particular, billionaires in the technology sector have an average wealth of $70,6 billion, higher than other sectors.
