World's billionaire population at record high!

World's billionaire population at record high!

17 September 2014, 13:10
Angeliqi N
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Despite all high-profile political and economic controversies the world is scraping through, its billionaire population is now at an all-time high.

A new survey shows that this year there were minted 155 new billionaires, pushing the total population to a record 2,325 - a 7 percent increase from 2013.

The palm of supremacy goes to the United States - the world-wide home to the most billionaires - where 57 new billionaires were recorded this year, according to the Wealth-X and UBS Billionaire Census 2014 released on Wednesday.

Asia and Latin America and the Caribbean were also large contributors, with 52 and 42 new entrants, respectively.

"The fastest growing segment of the billionaire population, in terms of wealth source, are those who inherited only part of their fortunes and became billionaires through their own entrepreneurial endeavors," the report said, adding that 63 percent of all billionaires' primary companies are privately held.

Billionaire populations in emerging markets, like Africa and the Middle East, showed mixed signals however.

Billionaires' total wealth grew in Africa, but their overall number decreased, primarily because of volatile socio-political conditions. A similar situation has happened in the Middle East.

Despite it all, the combined wealth of the world's billionaires increased by 12 percent to $7.3 trillion, higher than the combined market capitalization of all the companies that make up the Dow Jones Industrial Average.

What about brute facts?

According to the report, the average billionaire is 63 years old, with a net worth of $3.1 billion, which noted that most wealthy individuals do not reach the $1 billion threshold until their late forties.

Almost 90 percent of male billionaires are married, 6 percent are divorced, 3 percent are single and 2 percent widowed.

For male billionaires the top five industries are finance and banking, industrial conglomerates, real estate, manufacturing and textiles, and apparel and luxury goods.

65 percent of female billionaires are married, 10 percent divorced, 4 percent single and 21 percent widowed.

They are involved in similar industries to their male peers, but one difference is that many run non-profit and social organizations.

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