The number of billionaires worldwide increased by 50 percent between March 2015 and April 2024, reaching a total of 2,682, according to a UBS study.

Their combined wealth grew by 121 percent to $14 trillion, surpassing Germany's annual economic output. This growth outpaced the MSCI AC World index, which rose by 73 percent during the same period.

The UBS report attributes the significant increase in wealth among tech billionaires to advancements in sectors such as generative artificial intelligence, cybersecurity, fintech, 3D printing, and robotics.

A survey revealed that 40 percent of billionaires plan to invest more in real estate and equities from industrialized nations over the next year, while another 40 percent prefer safe-haven assets like gold and precious metals.

Additionally, 31 percent intend to increase their cash reserves due to concerns over geopolitical risks and stock market valuations.