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The DAX index has surpassed the 20,000-point mark for the first time, despite ongoing economic challenges in Germany. Meanwhile, consumer prices fell slightly in November, and the Eurozone unemployment rate remains at a record low of 6.3%. In Switzerland, the unemployment rate rose slightly to 2.6% due to seasonal factors.
Raiffeisen economists predict that the Swiss economy will continue to fall short of its potential in 2025, with GDP growth expected at 1.3%, slightly up from 1.1% in 2024. Despite resilient performance in the chemicals and pharmaceuticals sector, global economic challenges, particularly in the eurozone, pose risks to recovery.
The UBS Billionaire Ambitions Report 2024 reveals that billionaire wealth has surged by 121% since 2015, reaching $14 trillion, with tech billionaires leading this growth. The number of billionaires increased from 1,757 to 2,682, while U.S. billionaires saw the largest gains in 2024. In Western Europe, wealth accumulation has slowed due to rising interest rates, and baby boomer billionaires are expected to transfer $6.3 trillion to heirs or charities over the next 15 years. More than 40% of billionaires plan to increase investments in real estate and equities, alongside a growing interest in gold and precious metals.
Raiffeisen Switzerland forecasts a slight economic growth improvement for 2024 and 2025, with GDP expected to rise by 1.1% and 1.3%, respectively. However, uncertainties from U.S. trade policy and political instability in Germany and France may hinder Switzerland's economic potential. Interest rates are anticipated to decline further, with a possible drop to 0.75%, while the real estate market may see renewed interest from institutional investors despite not returning to pre-2020 boom levels.
The number of billionaires in mainland China dropped to 427 in 2024, down from 520, as 132 individuals fell off the list despite 42 new additions. The total wealth of these billionaires decreased by 20% to approximately $1.4 trillion, reflecting the impact of market corrections in a slowing economy. Challenges such as a troubled property market and reduced consumer spending have contributed to this decline.
A UBS study reveals that the number of billionaires has surged by 50% over the past decade, reaching 2,682 individuals, with their collective wealth soaring by 121% to $14 trillion. This growth significantly outpaces the MSCI AC World index, which rose by 73%. While tech billionaires saw their wealth triple to $2.4 trillion, the report highlights a shift in investment focus, with 40% of the super-rich planning to invest more in real estate and safe assets like gold, driven by booming sectors such as AI and fintech.
The wealth of the world's billionaires has surged by over 120% in the past decade, significantly outpacing the 73% rise in global stock markets, largely due to the dominance of tech entrepreneurs. The number of billionaires increased from 1,757 in 2015 to 2,682 in 2024, with tech billionaires seeing their wealth triple to $2.4 trillion. Despite a recent underperformance in real estate, many billionaires plan to increase investments in this sector and precious metals as safe havens amid global uncertainties.
The luxury goods industry is experiencing a significant slowdown, largely due to weakened consumption in China. A UBS study reveals that the contribution of Chinese consumers to the sector's growth has dwindled, accounting for only 10% from 2019 to 2023, compared to 44% from 2008 to 2015.
The UBS ETF - MSCI World Socially Responsible ETF A experienced a decline, trading down 0.13% to EUR 0.22. It reached a daily low of EUR 165.82 after starting at EUR 165.90, with a total of 17,919 shares traded. On December 7, 2023, the fund hit a 52-week low of EUR 127.36.
In April 2024, the number of billionaires worldwide reached nearly 2,700, a 50% increase since March 2015, with their total wealth surpassing 13 trillion euros—over three times Germany's annual economic output. The wealth of billionaires rose by 121%, significantly outpacing the 73% growth of the MSCI AC World index. Notably, tech billionaires saw their fortunes triple, driven by advancements in generative AI, cybersecurity, fintech, 3D printing, and robotics.
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