Global billionaire wealth and its population have fallen for only the second time since the global financial crisis in 2008, with those in APAC suffering the most.
After reaching record levels the previous year, global billionaire wealth in 2018 declined by 7 percent to $8.6 trillion, while the billionaire population fell by 5.4 percent to 2,604, according to the 2019 edition of «Billionaire Census», published by global ultra high net worth intelligence and data company Wealth X.
This fall in wealth was largely caused by a slowdown in global growth, persistent trade tensions and a slump in equity markets, the report said. The findings of the report, which has been published annually since 2013, were based on Wealth-X's global database of more than 1 million records on the world’s wealthiest individuals.
Asia-Pacific Hit Hardest
The report noted that apart from the U.S., U.K., Russia, and France, nearly all of the top 15 countries by billionaire population saw a decline. Asia-Pacific's billionaire population fell by 13.4 percent, driven by large declines in China, India, and Singapore.
The region also saw the largest decline in billionaire wealth – billionaires here saw their net worth fall by an average of 9 percent, compared to 7 percent in EMEA and 6 percent in the Americas. The report attributed this to three factors: weak equity market performance on the back of slowing growth, tariff disputes, and emerging market volatility.
Top Billionaire Countries
- United States (705 billionaires)
- China (285)
- Germany (146)
- Russia (102)
- United Kingdom (97)
- Switzerland (91)
- Hong Kong (87)
- India (82)
- Saudi Arabia (57)
- France (55)
- United Arab Emirates (55)
- Brazil (49)
- Italy (47)
- Canada (45)
- Singapore (39)
