World’s billionaires are rich, we all know that. They earn in big numbers. They get richer every year but can you believe that the rate could be this high! According to recent records, famous billionaires of the world got really rich in 2017. Famous billionaires like Microsoft founder Bill Gates, Amazon CEO Jeff Bezos and fashion tycoon Amancio Ortega all got a lot richer. The rise in their collective wealth was powered by growth in China. The wealth was increased by a whooping £6,900,000,000,000! They gained more wealth in 2017 than any other period in history.
According to the 2018 UBS and PwC Billionaires Insights Report, China’s billionaire entrepreneurs are leading their country’s economic transformation and by extension that of the rest of Asia. Over little more than 10 years, they have created some of the world’s largest companies and it resulted in more global wealth for billionaires.
China’s billionaires rose from to 373 from 318 with a joint wealth of $1.12 trillion, up 39 per cent. In the wider Asian continent, the number of billionaires also surpassed those in the United States, with their collective wealth also set to be more in the next three years.
Billionaires made more money in 2017 than in any year in recorded history and the richest people on earth increased their wealth by a fifth to $8.9 trillion
The world’s 2,158 billionaires grew their combined wealth by $1.4 trillion last year, more than the GDP of Spain or Australia, as booming stock markets helped the already very wealthy to achieve the greatest absolute growth ever.
The world’s richest person is Amazon founder Jeff Bezos, who has an estimated net worth of $146 billion, more than any one person in history.
There are 701 billionaires over the age of 70, whose wealth will transit to heirs over the next 20 years. It means they will get richer!