The world’s population of billionaires grew by 0.5% in 2013, with Asia notching up the fastest growth rate of nearly 3.7%.
Asia produced 18 new billionaires this year and the world’s total billionaire population (measured in US dollars) is now 2,170.
The inaugural Billionaire Census by intelligence provider Wealth-X and Swiss bank UBS found that 810 individuals have become billionaires since the 2009 global financial crisis. Meanwhile, the combined net worth of the world’s billionaire population has more than doubled from $3.1 trillion in 2009 to $6.5 trillion in 2013. The average net worth of a billionaire is $3bn.
Globally, there are 111 individuals who each have a net worth that exceeds $10bn. Their combined net worth is over $1.9 trillion, greater than the GDP of Canada.
Europe is home to the most billionaires (766 individuals), although North America has the most billionaire wealth ($2,158bn). Latin America is the slowest-growing region in terms of billionaire wealth since the fortunes of its ultra-high-net-worth individuals grew by just 2.3% over the past year.
Overall, 60% of billionaires are self-made, while 40% inherited their wealth or grew their fortunes from inheritance. Just 17% of female billionaires are self-made, with 71% having inherited their fortunes.
Interestingly, most billionaires are still based in the same locations where they were raised.
Sally Percy is editor of The Treasurer