Tags: Billionaires | rose | 80 | percent

Report: Number of Billionaires Rose 80 Percent in Last Decade

By    |   Wednesday, 05 March 2014 10:48 AM

More people around the world are finding their way into extreme wealth, according to the latest annual wealth report from London-based property manager Knight Frank.

The report shows that the number of global billionaires increased 80 percent over the last decade to 1,682, according to The New York Times.

The amount of people with $30 million or more in net assets rose by 59 percent to 167,000. The $30 million and up category gained 5,000 new members last year. That category puts people in the top 0.1 percent of the world's most wealthy.

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A 75 percent total of them said their assets increased last year, while only 4 percent cited a decrease in assets.

More millionaires and billionaires live in the United States, Japan and Germany than other countries. But the numbers are growing quickly in emerging markets. China is expected to have 322 billionaires by 2023, more than the United Kingdom, Russia, France and Switzerland combined.

The United States is seen with 503 billionaires in 2023, up from 417 currently.

The report surveyed 600 private bankers and wealth advisers who have more than 23,000 clients.

One group that did quite well last year was the nine founders of four of the world's biggest private equity firms. They took home more than $2.6 billion, as the torrid rally in public stock markets helped the firms score major gains on their investments, The Wall Street Journal reports.

Heading the list is Leon Black of Apollo Global Management, who garnered $546.3 million.

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More people around the world are finding their way into extreme wealth, according to the latest annual wealth report from London-based property manager Knight Frank.
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Wednesday, 05 March 2014 10:48 AM
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