The wealth of billionaires is nearing 16 trillion dollars.

Striking Report from Swiss UBS Bank

The Swiss bank UBS has published its Billionaire Goals Report for 2023. The report reveals that despite fluctuations in global markets, the total wealth of billionaires has reached a new peak due to increases in technology stocks and financial asset prices.

Number of Billionaires and Wealth Growth

This year, the number of new billionaires increased by 8.8% to 2,919, while total billionaire wealth rose by 13% to 15.8 trillion dollars. This growth marks the second-largest annual increase recorded since 2021.

Regional Wealth Distribution

The report also examines the regional distribution of billionaire wealth:

• Americas: Billionaire wealth increased by 15.5% to 7.5 trillion dollars.
• Asia-Pacific: Wealth rose by 11.1% to 4.2 trillion dollars.
• Europe-Middle East-Africa: Increased by 10.4% to 4.1 trillion dollars.

Technology Billionaires and New Entrepreneurs

In the technology sector, billionaires’ wealth rose by 23.8% to 3 trillion dollars. Additionally, in 2023, 91 new billionaires gained a total of 297.8 billion dollars in wealth through inheritance, marking a 36% increase.

During the same period, 196 entrepreneurs became billionaires through their own efforts, achieving a total wealth of 386.5 billion dollars.

Gender Distribution and Future Concerns

Globally, the number of male billionaires reached 2,545, while the number of female billionaires stood at 374. The report highlights that among billionaires' greatest concerns for the coming year are tariffs, geopolitical conflicts, and political uncertainty.