UBS Report: Billionaire Wealth Doubles in a Decade
Zurich, Saturday, 7 December 2024.
Billionaires’ wealth surged by 121% over ten years, reaching $14 trillion, with tech billionaires experiencing the fastest growth.
Global Wealth Surge
According to the latest UBS Billionaire Ambitions Report released on December 5, 2024, the total wealth of billionaires worldwide has increased dramatically from USD 6.3 trillion in 2015 to USD 14.0 trillion in 2024 [1][2]. This 121 percent growth significantly outpaced the broader market, as evidenced by the MSCI AC World Index’s more modest 73% rise during the same period [2]. The number of billionaires has also expanded substantially, growing from 1,757 in 2015 to 2,682 in 2024 [2].
Technology Sector Leads Growth
Tech billionaires have emerged as the clear winners in wealth accumulation, with their combined wealth tripling from USD 788.9 billion in 2015 to USD 2.4 trillion in 2024 [2][5]. This remarkable growth has been driven by advancements in e-commerce, social media, digital payments, and generative AI [2]. The tech sector’s dominance reflects a broader shift in the global economy towards digital transformation and technological innovation [GPT].
Regional Disparities
North American billionaires have seen particularly strong growth, with their wealth increasing by 58.5% since 2020 to reach USD 6.1 trillion [2]. However, the Asia-Pacific region has experienced more challenging conditions, with Chinese billionaire wealth (including Hong Kong) declining by 16.8% to USD 1.8 trillion [3]. In contrast, Indian billionaires have prospered, with their wealth surging by 42.1% to USD 905.6 billion [3][5].
Future Investment Trends
Looking ahead, billionaires are adopting cautious investment strategies. According to UBS, 43% of billionaires plan to increase their exposure to real estate, while 42% favor developed market equities [2]. Additionally, 40% are looking to invest in gold and precious metals, suggesting growing concerns about market stability [6]. The next decade presents an uncertain landscape, with geopolitical tensions and trade barriers potentially impacting wealth creation and preservation [5].