According to Swiss bank UBS on Thursday, the wealth of billionaires has increased by 121 percent in the last ten years to $14 trillion, with the largest growth occurring in the coffers of IT billionaires.
According to the largest bank in Switzerland, one of the top wealth managers in the world, the number of dollar billionaires rose from 1,757 to 2,682 over the previous ten years, reaching a peak of 2,686 in 2021.
Over the past ten years, billionaires have easily outpaced global equity markets, according to the 10th edition of UBS’s annual Billionaire Ambitions study, which measures the wealth of the world’s richest people.
According to Benjamin Cavalli, head of strategic clients at UBS global wealth management, the research details “the growth and investment of great wealth, as well as how it’s being preserved for future generations and used to have a positive effect on society.”
The MSCI AC World Index of global equities increased by 73% between 2015 and 2024, while the total wealth of billionaires soared by 121%, from $6.3 trillion to $14.0 trillion.
