The cumulative wealth of billionaires worldwide has more than doubled over the past decade, surpassing the growth of global stock markets.
Between 2015 and 2024, billionaires' fortunes increased by 121%, from $6.3 trillion to $14 trillion. This remarkable growth is primarily due to the booming technology sector. The MSCI AC World index, a benchmark for global equity markets, only grew by 73% during the same period, highlighting the exceptional performance of billionaire wealth compared to traditional investments.
The number of billionaires also rose significantly, from 1,757 in 2015 to 2,682 in 2024. Chinese billionaires experienced a significant increase in wealth, reaching $2,100 billion by 2020, but it has since declined to $1,800 billion. In contrast, North American billionaires consistently saw their fortunes grow, with an increase of over 50% between 2015 and 2020, and an additional 58.5% projected by 2024, bringing their total wealth to $6,100 billion. Western Europe also witnessed an increase in billionaire wealth, rising from $1,500 billion in 2015 to $2,100 billion by 2020, with an expected total of $2,700 billion by 2024.
The technology sector has been a driving force behind the growth in billionaire wealth, with fortunes in this industry tripling to $2,400 billion in 2024.
The industrial sector also experienced substantial growth, rising from $480.4 billion to $1,300 billion.
However, the real estate sector has faced challenges, including a correction in China, disruptions due to the pandemic, and rising interest rates in the US and Europe.
The future outlook for billionaire wealth suggests that the trend of wealth accumulation among the ultra-rich will continue, driven by the technology sector and the resilience of North American billionaires. However, uncertainties in regions like China and challenges in the real estate sector may impact future wealth trajectories.