Personal banks together with the world's largest wealth supervisor UBS have felt the results of US-China commerce tensions and worldwide political uncertainties, as shoppers final 12 months shied away from buying and selling and taking over debt in favor of hoarding additional cash.
Billionaires' wealth fell by $388 billion internationally to $8.539 billion, the UBS/PwC Billionaires Report discovered, with a particularly sharp decrease in Greater China - the second-biggest house for billionaires following the United States - and also the Asia-Pacific area more broadly.
"Self-made female billionaires contributed more to wealth creation, as their wealth surged by 131 percent from 2013 to a year ago, while wealth among their multi-generational peers or heiresses increased by 14 percent in the same period", the report said.
The number of billionaires in the region dropped from 814 to 754.
Billionaires have become a key policy issue in the U.S. as Sen.
Billionaires in the tech industry saw the greatest growth compared to any other sector a year ago. Bernie Sanders, I-Vt. Sanders has gone so far as to say billionaires shouldn't even exist.
One notable trend in this year's report is that women are joining the billionaires club. China overtook Russian Federation as the second-largest billionaire group, behind the United States. China recently surpassed the United States for the first time in claiming the largest share of the world's richest people.
There are now 2,101 billionaires globally, according to UBS' 2019 Billionaire Insights report.
Many billionaires know how to take smart risks, are obsessively focused on their businesses, which allows them to see opportunities others missed, and think longer-term than less wealthy CEOs, the report said. A review of the personality tests of 43 people with net worths above $US11 million by German researcher Rainer Zitelmann found that ultra-wealthy entrepreneurs tend to have high tolerances for frustration and be more detail-oriented than the general population, Business Insider previously reported. The decline bumped dozens from the billionaires list and contributed significantly to the global drop-off in billionaire fortunes.
Warren released the calculator after reports of Michael Bloomberg's possible entry into the 2020 presidential race, a candidacy that was lauded by fellow billionaires like hedge fund manager Leon Cooperman.
Having a billionaire at the helm is good for a company's stock price, a new report by investment bank UBS and PricewaterhouseCoopers found. "You'll still be extraordinarily rich".