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Home / Business / The world's billionaires lost a total of $ 388 billion in 2018

The world's billionaires lost a total of $ 388 billion in 2018



Billionaires in Asia saw wealth fall most.

The net worth of Chinese billionaires fell by 12.3% measured in US dollars. About half of that decline is due to a weakening of the Chinese yuan against the US dollar, according to the report.

The region also lost the largest number of billionaires, and China and India experienced the largest falls. China alone lost 48 billionaires, leaving 325 billionaires in the country.

Still, Asia claims most billionaires worldwide. China's billionaires in particular have increased rapidly in the last five years, rising to become the second largest billionaire group after North America.

Who bucked the downward trend?

Despite global losses, billionaires in America did the best last year.

The United States, supported by the successes of the technology industry, coined several billionaires. At the end of 201

8, there were 89 technology billionaires, up from 70 in 2017. While the amount of wealth that billionaires held across America was flat, the total number of billionaires increased by 4.8% in 2018 for a total of 749 billionaires. in the area.

Technology entrepreneurs continued to push the global economy, driving nearly a third of the growth in billionaire wealth over the past five years.

Technical billionaires alone had $ 1.3 trillion in assets by the end of 2018, with net worth nearly doubling in five years.

Meaningful Impact

Billionaires around the globe continue to be involved in philanthropy, with 400 of the top 500 billionaires publicly giving.

US billionaires split their division between international and national causes, while European billionaires primarily donated international projects and Asian billionaires donated locally.

Globally, education received the most billionaire donations in 2018, followed by health care and culture and arts. Poverty and the environment received the least charitable gift.


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