ubs billionaires report Rise of New Billionaires and Value Creators

The UBS Billionaires Report is out, and it's a fascinating read. The number of billionaires has increased by 25% in the past year, reaching a total of 3,381 individuals.

This growth is largely driven by the tech industry, with 70% of new billionaires coming from the tech sector. The report highlights the rise of value creators who are not just accumulating wealth, but also driving innovation and progress.

The report also notes that the average age of billionaires is decreasing, with 45% of new billionaires being under the age of 50. This suggests that the next generation of billionaires is already making its mark.

The UBS Billionaires Report provides valuable insights into the world of high net worth individuals, and it's worth taking a closer look at the data and trends it presents.

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In 2018, the world's billionaires' assets grew by USD 1.4 trillion to USD 8.9 trillion, the most substantial annual increase and the greatest wealth ever. This staggering growth is attributed to the emergence of new billionaires, with 332 new billionaires added to the list, 199 of whom were self-made entrepreneurs.

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The report "Billionaires Insights 2018 – New Visionaries and the Chinese Century" highlights China as the fastest-growing billionaire market worldwide, producing two new billionaires a week. This trend is unmatched in other regions, with APAC coming out on top in generating wealth.

New value creators are gaining momentum, with billionaire wealth rising 17% in 2016, double the rate of the MSCI AC World Index. This growth is not limited to a few individuals, as 145 new billionaires employed at least 2.8 million people.

Innovators and disruptors are outperforming traditional billionaires, with scientists, computer programmers, and engineers revolutionizing industries at an unprecedented pace. Some of these innovators are becoming billionaires as they apply emerging technologies to drive change.

The billionaire effect is a remarkable phenomenon where billionaire-controlled companies tend to outperform the market. This is due in part to their ability to take calculated risks and focus on their core businesses with determination.

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Over the past 35 years, 917 self-made billionaires have created fortunes of more than $3.6 trillion, driving the development of the internet and its ecosystems, as well as leading Asia's consumer products revolution. They have also set up some of the hedge and private equity funds that have revolutionized finance.

We can expect a major upsurge in philanthropy in the coming years, as two thirds of the current generation of billionaires are ageing and facing the decision of what their legacies will be.

The billionaire effect is shifting, and it's not just about entrepreneurs anymore. In 2023, billionaires accumulated more wealth via inheritance than through their own business activities for the first time since 2015.

This trend is expected to continue, with over 1,000 billionaires passing an estimated $5.2 trillion to their children in the next 20 years. The generational wealth transfer is gaining momentum, and it's a big opportunity for wealth managers like UBS.

However, this shift also presents a risk, as years-long relationships end and the owners of massive wealth change. UBS, which oversees $5.5 trillion in invested assets, is already working with the second, third, and fourth generations of families.

The number of billionaires rose by 7% to 2,544 people globally, with their total worth rising by 9% to an estimated $12 trillion. Among the 137 new billionaires, a total of $150.8 billion was inherited by 53 heirs over the last year, exceeding the 84 new self-made billionaires' total of $140.7 billion.

China's young entrepreneurs are set to swell the ranks of the world's billionaires for years to come. Their numbers are on the rise, and it's not hard to see why.

The number of Asian billionaires on our database exceeded US billionaires for the first time in a landmark year. This was largely powered by the rise of China's entrepreneurs in an exceptional year, with the number of Asian billionaires rising by almost a quarter to 637.

Billionaire-controlled companies tend to outperform the market. This is because billionaires are masters of calculated risks and they focus on their core businesses with determination.

Total billionaire wealth reached a new high of USD 10.2 trillion at the end of July 2020, surpassing the previous peak of USD 8.9 trillion reached at the end of 2017. This is a staggering amount of wealth, and it's clear that billionaires are having a significant impact on the global economy.

New Value Creators are on the rise, and it's no secret why. In 2017, billionaire wealth rose 17% in the US, a rate double that of the MSCI AC World Index.

This surge in growth is also being driven by a shift in the geography of global influence, with Asia and China playing a larger role. For the first time in history, there are more billionaires in Asia than in the US.

The numbers are staggering, with 145 new billionaires this year alone, employing at least 2.8 million people. These new value creators are not only creating wealth, but also new legacies that will shape the future of business and entrepreneurship.

Millennials are taking the reins in Asia, where one billionaire is created every three days, led by China.

This shift is influencing the structure and type of legacies established, with many billionaire heirs choosing philanthropy over entrepreneurialism.

China's young entrepreneurs are set to swell the ranks of the world's billionaires for years to come.

Many billionaire heirs are opting to become owners rather than managers of their family businesses.

Those choosing to keep their businesses have heirs who are increasingly likely to become owners, not managers.

The world's ultrawealthy are flourishing, with billionaire wealth rising 17% in 2016, double the rate of the MSCI AC World Index.

This growth is driven by new value creators, with 145 new billionaires employing at least 2.8 million people. For the first time in history, there are now more billionaires in Asia than in the US.

Asia's influence is only set to grow, with China continuing to swell the ranks of the world's billionaires. China's young entrepreneurs are set to be major players in this growth.

The changing fortunes of billionaires are also shifting the way they create value. Networks are playing an increasingly powerful role, with families working together on new ventures and younger entrepreneurs tapping into a broader group of contacts to orchestrate deals.

This shift is also changing the way we think about philanthropy, with rising billionaire philanthropy having significant benefits for society and the environment. However, there appears to be a strategy gap that could limit the effectiveness of giving.