Wealth Blog

Finance Blogs » Wealth » Money rises in the east

Money rises in the east

By Judy Martel · Bankrate.com
Monday, November 11, 2013
Posted: 6 am ET

Asia has produced more new billionaires than any other region in 2013, adding 18 to its ranks. Total wealth from the region's billionaire population surged by 13 percent and, at the current rate of growth, will catch up with North America in five years, according to the Wealth-X and UBS Billionaire Census 2013.

hedging-retirement-risks-3-inflationNorth America, which added 11 billionaires this year, holds its top spot globally when measuring billionaire wealth, with $2.1 trillion. Europe still has the highest number of billionaires, with 766, though it is losing population. In 2013, 29 billionaires dropped off the list in that region.

The report examines trends among global billionaires from July 2012 to June 2013.

Latin America is the slowest-growing region for billionaire wealth, with an increase of 2.3 percent in the past year.

Globally, the 2,170 billionaires in 2013 have an average net worth of $3 billion, with 111 of them claiming a net worth in excess of $10 billion.

Most billionaires, 60 percent, are self-made, although only 17 percent of female billionaires can make that claim.

Since the global financial crisis in 2009, billionaires have become much richer. Their combined net worth more than doubled, from $3.1 trillion in 2009 to $6.5 trillion in 2013 and 810 individuals joined the ranks.

Keep up with your wealth and mortgages and follow me on Twitter.

Get more news, money-saving tips and expert advice by signing up for a free Bankrate newsletter.

«
»
Bankrate wants to hear from you and encourages comments. We ask that you stay on topic, respect other people's opinions, and avoid profanity, offensive statements, and illegal content. Please keep in mind that we reserve the right to (but are not obligated to) edit or delete your comments. Please avoid posting private or confidential information, and also keep in mind that anything you post may be disclosed, published, transmitted or reused.

By submitting a post, you agree to be bound by Bankrate's terms of use. Please refer to Bankrate's privacy policy for more information regarding Bankrate's privacy practices.
1 Comment