What a difference a year makes. In last year’s report, we asked the question ‘Are billionaires feeling the pressure?’ as billionaire wealth dropped. This year we’ve seen a dramatic return to growth. Billionaire wealth rose 17% in 2016, double the rate of the MSCI AC World Index. Despite a period of heightened geopolitical uncertainty, the world’s ultrawealthy are flourishing.
- For the first time in history there are now more billionaires in Asia than in the US
- In 2017, 145 new billionaires employ at least 2.8 million people
- Billionaires are increasingly drawing on the power of their networks
- Asian billionaires have made over half of billionaires’ sports club acquisitions in the last two years, while a new generation of art patrons is making new and unique collections more accessible to the public
- Billionaires are enjoying resurgent growth and creating new legacies, driven by a shift in the geography of global influence.