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Home / Business / Total billionaire wealth grows 19% to a record $ 8.9 trillion: UBS / PwC Billionaire 2018 report

Total billionaire wealth grows 19% to a record $ 8.9 trillion: UBS / PwC Billionaire 2018 report



· In America, wealth rose more slowly than the global rate by 12 percent – to $ 3.6 trillion, but still has the largest asset concentration in the technology sector

· Currency appreciation looked European the fortune of the billionaires grows by 19 percent, but the number of billionaires rose by only 4 [19659003] percent [19659003] to 629

· In the US and China, there will be less economic growth next year is a full one Trade War

MENA:

· In 2017, MENA's total billionaire wealth grew 15 percent, reaching $ 165 billion

· The total number of mena billionaires rose by 24 percent in 201

7 to 52.

· Homemade billionaires account for 75 percent of billionaires in MENA (compared to a self-made billionaire population in the MENA region) USA of 68 percent t and 80 percent in APAC).

Homemade billionaires make up 75 percent of billionaires in MENA (compared to a self-made billionaire population in the US of 68 percent and 80 percent in APAC)

Billionaires' wealth enjoyed it Biggest increase since 2017 , rose 19 percent to $ 8.9 trillion, spread over 2,158 people. Despite healthy growth in America and Europe, Chinese billionaires expanded their assets almost twice as fast, growing 39 percent to $ 1.12 trillion.

These findings were published today in the joint annual Billionaires Insights report by UBS and PwC: New Visionaries and the Chinese Century . The report, now in its fifth edition, draws on UBS's and PWC's extensive customer network and access to data, and aims to foster a deeper understanding of the global billionaire population.

Josef Stadler, Head of Ultra High Net Worth at UBS Global Wealth Management commented on the new report: "Over the past decade, Chinese billionaires have created some of the world's largest and most successful companies that have raised living standards But this is just the beginning: China's vast population, technology innovation and productivity growth combined with government support provide new opportunities for individuals to not only build businesses, but also change people's lives for the better. "

" We are experiencing worldwide a new wave of entrepreneurship, with billionaires at the forefront of innovation, creating jobs and wealth, but their impact is beyond the economy, a new generation emerges and they see a chance to tackle some of the biggest environmental and societal challenges, in front of which the human

The China Phenomenon and Its Challenge for Silicon Valley:

  • There were only 16 Chinese billionaires as late as 2006. Today, only 30 years after the country's government first allowed private companies There are 373 – almost one-fifth of the world total.
  • The Chinese cohort is 97 percent self-made, many in sectors such as technology and retail. 89 Chinese entrepreneurs became billionaires in 2017, about three times more than in the US and the EMEA.
  • Billionaires from Asia, and especially from the Chinese city of Shenzhen, question the traditional US dominance in technology entrepreneurship. In 2017, they reached US venture capital funding for start-ups that registered four times as many artificial intelligence patents and three times as many blockchain and crypto patents as their US counterparts.

Ravi Raju, Head of UBS Global Wealth Management comments: "Asia's billionaires are young and relentless, constantly transforming their businesses, developing new business models and rapidly moving into new industries." This cohort is largely self-made and determined to create one to use the greatest moments of history for new ventures. "

Homemade billionaires drive innovation worldwide:

  • They've made 80 percent of the 40 most important breakthroughs in innovation over the last 40 years [1]
  • In 2017, a total of 199 entrepreneurs became self-made billionaires, including innovators in blockchain, peer-to-peer lending, genomics and green energy.

The Next Generation Affecting the New Prosperity Agenda:

  • A significant transfer of wealth has begun. There are 701 billionaires over the age of 70, whose fortunes will shift to heirs and philanthropy over the next 20 years due to the statistical probability of average life expectancy. That's nearly 40 percent of the current billion dollar assets ($ 3.4 trillion) worldwide
  • Younger billionaires are the driving force behind a growth in philanthropy and sustainable investing as they use their wealth to make a positive social impact. More than a third (38 percent) of family offices are now committed to sustainable investment, and nearly half (45 percent) plan to increase their sustainable investment over the next 12 months.
  • Young billionaires also want to build their own economy value. Just under two-thirds (62 percent) of the sons and daughters of billionaires who inherited the family business in 2017 wanted to become entrepreneurs, compared to 42 percent who inherited wealth.

Dr. Marcel Widrig, Partner and Private Wealth Leader, PwC:

"Our report shows that China is currently the leading country for entrepreneurs to create wealth, and nowhere else is there the same combination of large population, technological innovation and government support We've also found out that next-gen billionaires are extremely entrepreneurial, and with the benefits of first-rate university education and a global network, they often create their own new companies that combine the latest technology with sustainability goals, and billionaires welcome sustainable investing see how it not only does good but also adds value to their business, in fact many of the younger generation want to change the world and influence them through their family offices and philanthropic organizations. "

Impact of the US China Trade War

  • When the Existing US / China The trade war in China escalates; UBS expects lower economic growth in both countries than political measures.
  • Equities from the US and Asia excluding Japan could fall 20% from mid-summer 2018 onwards.
  • For China's young people billionaires, while a trade war could slow growth rates, the country's foundations for a huge population and rising technology will continue to provide fertile conditions for entrepreneurs to grow their business.

Billionaire Growth in Figures:

  • Global billionaire growth of 19 percent was lower than growth in the MSCI World Index, which rose 25 percent. The largest growth sectors were consumer goods and retail, which increased by USD 360 billion, technology (USD 250 billion) and materials (USD 180 billion).
  • The Americas region still hosts the largest concentration of billionaire assets in the US, rising 12 percent to $ 3.1 trillion, driven in particular by the technology and consumer and retail sectors. But wealth creation is slowing down and the US is creating 53 new billionaires in 2017, compared to 87 five years ago.
  • In Europe, wealth grew 19 percent to $ 1.9 trillion. This is mainly due to the appreciation of the euro against the dollar. In fact, the number of billionaires in the region grew by only 4 percent. Wealth transition of only five families accounted for 30 percent of the wealth expansion of the continent.
  • APAC's share of billionaire wealth rose to $ 2.7 trillion, accounting for 30 percent of the global total with the consumer and retail, technology and real estate sectors leading the way.

About UBS

UBS advises financial institutions, institutional clients and corporate clients as well as private clients in Switzerland worldwide. UBS's strategy focuses on our world-leading wealth management business and our leading universal bank in Switzerland, complemented by asset management and the investment bank. The bank focuses on companies that have a strong competitive position in their target markets, are capital efficient and have attractive long-term structural growth or profitability prospects.

UBS is present in all major financial centers worldwide. The company has offices in 52 countries, with approximately 34% of its workforce in the Americas, 34% in Switzerland, 18% in the rest of Europe, the Middle East and Africa, and 14% in the Asia-Pacific region. UBS Group AG employs around 61,000 people worldwide. Shares Listed on the SIX Swiss Exchange and New York Stock Exchange (NYSE)

Global Wealth Management

As the World's Largest Asset Manager UBS Global Wealth Management Provides Comprehensive Advice Solutions and services for wealthy families and individuals around the world. Clients who work with UBS benefit from a fully integrated portfolio of wealth management capabilities and expertise, including wealth planning, investment management, capital markets, banking, lending, and institutional and corporate financial advisory.

About PwC [196590000] At PwC, our goal is to build trust in society and solve important issues. We are a network of companies in 158 countries with more than 250,000 employees dedicated to quality assurance, consulting and tax advice. Find out more and tell us what is important to you by visiting us: www.pwc.com

PwC refers to the PwC Network and / or one or more of its member companies, from each of which is a a separate legal entity. For more information, visit www.pwc.com/structure

UBS Group AG

Media Contacts

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Headland Consultancy

Oliver Tilley: + 44-20-3805 4836, otilley @ headlandconsultancy .com

Del Jones: + 44-20-3805 4860, djones@headlandconsultancy.com

Haw-Yan Man: + 44-20-3805 4857, hman@headlandconsultancy.com

Hannah Davis: + 44 -20-3805 48445628, hdavis@headlandconsultancy.com

© Press Release 2018


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