The wealth of billionaires has more than doubled over the past decade, surpassing the growth of global stock markets.
The cumulative wealth of billionaires increased by 121% from $6.3 trillion in 2015 to $14 trillion in 2024. This surge is primarily due to the booming technology sector. The number of billionaires also rose from 1,757 in 2015 to 2,682 in 2024.
Chinese billionaires experienced a significant increase in wealth, reaching $2,100 billion in 2020 before declining to $1,800 billion. In contrast, North American billionaires consistently saw their fortunes grow, reaching $6,100 billion in 2024. Western Europe also witnessed substantial growth, with billionaire wealth projected to reach $2,700 billion by 2024.
The technology sector has been the primary driver of wealth creation for billionaires, with fortunes in this area expected to reach $2,400 billion by 2024. However, the real estate market has underperformed, presenting challenges for wealth accumulation in that sector.
The future of billionaire wealth will require adaptability and foresight, as technology continues to dominate and traditional industries face headwinds.