Over the past decade, there has been a significant increase in the number of billionaires and their wealth, according to a recent study by UBS.
The study reveals that as of April 2024, there were nearly 2,700 billionaires worldwide, which is a 50% rise since March 2015. The total wealth of billionaires has exceeded 13 trillion euros, which is more than three times Germany's annual economic output. Billionaire wealth has grown by 121%, surpassing the 73% increase in the MSCI AC World index during the same period.
The tech billionaires have seen the most substantial gains, with their holdings tripling, thanks to advancements in sectors like generative artificial intelligence, cybersecurity, fintech, 3D printing, and robotics. While China's billionaire fortunes reached their peak in 2020 and have slightly declined since then, the United States and Europe have experienced steady growth in the wealth of their super-rich populations. This data highlights the ongoing wealth disparity and the booming industries that contribute to the rise of the ultra-wealthy.