UBS/PwC Billionaires Report 2017: Return to growth for billionaires globally, with Asia outpacing the US for the first time
New report found that billionaire wealth returned to growth in 2016 after falling the year before. For the first time, Asian billionaires outnumbered their US counterparts, but the US still retains the greatest concentration of wealth. If the current trend continues, the total wealth of Asian billionaires will overtake that of their counterparts in the US in four years.
These findings emerge as UBS Group AG and PwC today released their joint annual billionaires insight report, New wealth creators gain momentum. Now in its third year, the report draws upon UBS and PWC’s extensive networks, and aims to better understand the billionaire population globally.
The report highlights subtle trends emerging, including the increasingly important role of peer networks to orchestrate new deals and access significant funding outside of capital markets. Moreover, elite philanthropic and impact investing networks are emerging.
Josef Stadler, head global ultra-high net worth, UBS, comments on the new report: “This year we have seen not only a return to growth for billionaire wealth, but also a significant shift in its geographic dimensions. Dramatic growth in Asian wealth shows it could overtake the US in just four years.”
“Beyond this headline figure, billionaires are also having a wider impact on the global economy through the people they employ and the growth they foster. The societal effect of great wealth is, however, not exclusively economic. Through their own passion for arts and sports, they are playing an increasingly important role in enriching the cultural life of communities.”
Click here to read the full report
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