The wealth of billionaires around the world has never been greater

The total wealth of billionaires reached $ 10 trillion and $ 200 billion for the first time in history at the end of July 2020, reaching new highs and thus surpassing the previous value of $ 8 thousand and 900 billion, reached at the end of 2017. world now there are 2,189 billionaires, up from 2,158 in 2017.

This is what emerges from the latest Billionaires Insights 2020 report published by UBS and Pwc, now in its seventh edition. The survey examined the 43 largest world markets, which represent approximately 98% of global billionaire wealth. About 60 interviews were conducted with the billionaires themselves, and research sources included data on PwC’s billionaires and UBS sustainability assessments.
Billionaires Insights 2020
The fortune of billionaires is polarizing in some specific sectors (Billionaires Insights 2020)

That the wealth of billionaires globally continues to grow is also shown by the wealth of the richest man in the world, Jeff Bezos, who in August exceeded 200 billion dollars, according to Forbes surveys. Also, after Elon Musk hit the $ 100 billion mark, five people hold the title of “billionaire”.

The UBS and PWC report shows that fortunes are polarizing as more and more innovators and so-called disruptors are using technology to become leaders of the economic revolution. During 2018, 2019 and the first seven months of 2020, entrepreneurs in the technology, healthcare and industrial sectors found themselves at an advantage. The storm induced by Covid-19 has only accelerated this trend.
Billionaires Insights 2020
Innovators are very common in the world of technology. (Billionaires Insights 2020)

Scientists, computer programmers and engineers are revolutionizing industries at an unprecedented rate. Their sphere of activity is spreading from the technology and healthcare sectors to other sectors of the entire economy.

Records are also recorded in terms of donations, never as high as in this pandemic period. About 209 billionaires have publicly pledged a total of $ 7.2 billion. But UBS and Pwc specify that “it is likely to be only a fraction of the total amount, given the tendency to discretion”.

As for Italy, at the end of July 2020 the number of Italian billionaires increased to 40 (compared to 36 last year), of which 67% men and the remaining 33% women. Despite this increase, for five years, the growth rate of Italian billionaires has been negative (in 2015 it was 43). Self-made billionaires represent 49% of the total of Italian billionaires, while the total wealth in our country decreased by 12% in 2019, to 125.6 billion dollars. In the months between April and July 2020, wealth returned to increase by 31%, to 165 billion US dollars. Finally, between 2019 and 2020, the growing billionaire Italian companies were those operating in the consumer & retail, industrial and financial services sectors.

“Pivotal moments such as wars or pandemics tend to accelerate change and leave a strong influence in all walks of life,” write Josef Stadler, head of global family office of Ubs Global Wealth Management and Marcel Tschanz, head of banking advisory of PwC Switzerland. “Like after a storm, renewal and reinvention is required. This community of billionaires is likely to show the way in this endeavor as well. The next generation of entrepreneurs is destined to offer a unique point of view in this “new normal” and to support a new era of innovation and change “.

0 %