Wealth-X is a global wealth intelligence and prospecting company and UBS is a financial services major. The report noted that Asia is driving the tectonic shifts in wealth globally and added it would catch up with North America in five years. The study that focused solely on persons with a net worth of $30 million and above (after accounting for shares in public and private companies, residential and investment properties, art collections, planes, cash and other assets), said Asia has 44,505 ultra-high net worth individuals, whose total wealth amounted to $6,590 billion. According to the report, the global billionaire population reached a record 2,170 individuals in 2013. The average net worth of the worlds billionaires stood at $3 billion. The billionaire populations combined net worth more than doubled from $3.1 trillion in 2009 to $6.5 trillion in 2013 - enough to fund the US budget deficit until 2024, and greater than the GDP of every country except the US and China.
Posted on: Thu, 07 Nov 2013 19:09:18 +0000