A report by the UBS and PwC, covering over 2,000 billionaires representing some 98% of the cohort’s total wealth, found billionaire wealth grew by more than a quarter (27.5%) at the height of the crisis from April to July to reach $10.2 trillion in July.
The world’s billionaires “did extremely well” during the coronavirus pandemic!
The world’s billionaires grew their wealth by 27.5% at the height of the crisis from April 7 and July 31. The highest amount of money ever owned by the world’s richest. Billionaires in the technology, healthcare, and industrial sectors saw their wealth rise 36% – 44%, the report found.
Josef Stadler, the head of UBS’ Global Family Office, said UBS’ research found that 209 billionaires publicly committed a total of $7.2 billion to help tackle the pandemic. The number of billionaires has also increased from 2,158 to 2,189 since 2017, the Billionaires Insights report found.
“Our research has identified 209 billionaires who have publicly committed a total equivalent to $7.2bn from March to June 2020,” the report said. “They have reacted quickly, in a way that’s akin to disaster relief, providing unrestricted grants to allow grantees to decide how best to use funds.”
The Asia-Pacific region had the highest number of billionaires (831), with half of them from China, the world’s second-largest billionaire group. Despite the COVID-19 pandemic, the total number of Chinese billionaires increased to a record of 415 individuals, including 145 new entrants, the highest globally in 2020.
Growth of top ten markets according to billionaire wealth 2009 – 2020
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