The total wealth of billionaires surged to six trillion dollars last
year, more than 17 percent than a year ago. Asian billionaires are
outpacing their US counterparts for the first time, says research
released by UBS on Thursday.
The surge is caused by an increase in Asia’s emerging billionaire class and growth in the materials, industrials, financial and technology sectors.
“On average, a new billionaire was created in Asia every two days, with the total number of Asian billionaires rising by almost a quarter to 637, compared to 563 in the US,” the report says.
Read more: New billionaire born in Asia every other day — RT Business News
The surge is caused by an increase in Asia’s emerging billionaire class and growth in the materials, industrials, financial and technology sectors.
“On average, a new billionaire was created in Asia every two days, with the total number of Asian billionaires rising by almost a quarter to 637, compared to 563 in the US,” the report says.
Read more: New billionaire born in Asia every other day — RT Business News
