Global Billionaire Wealth Jumps 17%, Doubles Over 10 Years: UBS Study

Dec 5, 2024, 10:44 AM

The wealth of the world's billionaires has surged by approximately 17% over the past year, according to a study by Swiss bank UBS. This increase was driven by significant gains among the ultra-wealthy in the United States, which offset a decline in billionaire wealth in China. Over the past decade, the number of billionaires globally has grown substantially, with their collective wealth more than doubling in the last 10 years. The report also highlights a trend of many billionaires relocating, particularly to Singapore, since the COVID-19 pandemic.