Billionaires in the rise despite economic crisis

Billionaires with $1bn+ in the rise, despite the economic crisis

The number of billionaires, people owning more than $1bn in assets, has increased up to 6.4% in 2015, totalising 2.473 people, as reported by agency Wealth-X, one billionaire for every 2.95M people.

Their accumulated wealth adds up to 7.7bn dollars and although it seems that they have not suffered the economic crisis’ effects,  it does affect the way they manage their assets.

In fact, in 2015, 22% of their wealth was cash: the increasing of liquidity is the most important trend and it’s foreseen to go up to 23.3% in 2017. Billionaires turned their wealth into cash by selling their assets.

Getting rich by successful investments increased up to 7% in 2015, followed by self-made young entrepreneurs in the internet and telecoms market.

Billionaire by legacy represents 13%, a 29% decrease in 2015. Europe concentrates the biggest amount of billionaires (804) but Asia is leading with a 15% increase.

Finally, the majority of billionaire are men (88.6%) and the report highlights that the majority of women billionaires came into the league by legacy (56% of them in 2015), reflecting the glass ceiling that prevents women to progress not only in their careers and professions but also in accessing wealth as a principle.

Last, but not less, 70% of billionaires are into philanthropy, art, and fashion.

If you have any queries on wealth management please do not hesitate to contact us at clerk@delcantochambers.com

Del Canto Chambers’ Editorial Board

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