The global wealth landscape has undergone significant changes in the past decade, with the number of billionaires increasing to 2,682 in 2024, a growth of over 50% from 2015.
The peak was reached in 2021 with 2,686 billionaires, but the count has since stabilized. This growth reflects the resilience of wealth accumulation and the shifting dynamics of global economies, particularly in China and North America.
In Italy, the number of billionaires has risen to 62, with 41.9% of them being first-generation billionaires. The total wealth of billionaires globally has more than doubled from $6.3 trillion in 2015 to $14 trillion in 2024, according to UBS's Billionaire Ambitions Report.
Chinese billionaires have experienced significant growth, with their wealth more than doubling from 2015 to 2020. However, there was a decline of 16% in their wealth, dropping to $1.8 trillion. Despite this setback, the overall pool of billionaires in China has remained stable.
The tech sector has played a crucial role in wealth creation, with the rapid expansion of the industry contributing to the growth of billionaires worldwide. The focus has shifted to areas such as generative AI, cybersecurity, fintech, 3D printing, and robotics, showcasing the evolving nature of wealth creation.
Billionaires are adapting their investment strategies to navigate the changing economic landscape. While 43% plan to increase their exposure to real estate and 42% are looking to invest in developed market equities, there is also a trend towards safe-haven assets. 40% of billionaires intend to increase their investments in gold and precious metals, while 31% plan to allocate more funds to cash.
Despite challenges faced by the real estate sector, billionaires still have a strong appetite for real estate investments, indicating a belief in the long-term value of property assets.
Technology will continue to play a prominent role in wealth creation, with the ability to harness new technologies being a key determinant of success for future billionaires. The ongoing digital transformation is expected to create further opportunities for wealth generation, particularly in sectors experiencing rapid growth.
In summary, the global wealth landscape is changing, with the number of billionaires increasing and their investment strategies evolving. Economic factors in regions like China and North America will continue to influence wealth accumulation. Billionaires' investment choices will reflect a mix of traditional asset classes and emerging technologies, shaping the future of global finance.