2017 saw the boom of billionaires in Asia. Within four years, according to a UBS study, the total wealth of the "big ducks" of the Rising Sun could exceed that of their US counterparts.
Globally, the total wealth of billionaires grew 17% from $5,1 trillion in 2015 to $6 trillion in 2016, double the rate of the MSCI World Index. The United States continues to maintain the highest concentration of economic welfare. On average, a new billionaire is born every two days in Asia. To date, the world's richest are 637 in Asia and 563 in the United States.
As far as Europe is concerned, the hot topic of 2016 was the preservation of wealth. There are 342 billionaires in Europe registered at the end of 2016, but growth remains static. Overall wealth grew a modest 5% to just over $1,3 trillion, with 24 new billionaires and 21 "disappeared" from the list, a third of them due to death. This confirms what was already established in the past, namely that Europe has the largest number of multi-generational billionaires.
The 1542 billionaires analyzed in the study own shares or all of businesses that employ at least 27,7 million people worldwide (almost as many as all UK workers).
The new entries in the 2016 list employ at least 2,8 million people. Networks play an increasingly important role: families work together on new ventures and young entrepreneurs use the network to make deals.
Billionaires are creating alternative legacies through their cultural activities. Private museums are growing in numbers and public ones are receiving more funding, increasing the public's accessibility to the art world. The billionaires are also helping sports clubs become more sustainable by helping them bring added value and benefits to the communities they are a part of.
