You are here: Home » Economy & Policy » News
Business Standard

Asia now has more billionaires than the US

One billionaire created every three weeks in China: UBS

Katya Kazakina & Patrick Winters | Bloomberg 

The world’s wealthiest individuals are on a roll, with billionaires in Asia leading the pack. Billionaire wealth increased 17 per cent to $6 trillion in 2016, after a decline the previous year, UBS Group AG and PricewaterhouseCoopers said in a report issued on Thursday. Led by China, the number of the region’s billionaires surpassed the US for the first time. But don’t shed a tear for the richest folks in the US: American billionaires still control the most wealth at $2.8 trillion. The gain in total billionaire wealth was twice the 8.5 per cent increase of the ...

This article is no longer available in our repository.

There could be multiple reasons for this.

First Published: Thu, October 26 2017. 22:38 IST
RECOMMENDED FOR YOU