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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.

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