Billionaire Breakdown

Sloane | November 12, 2013

Yesterday, the inaugural Wealth-X and UBS Billionaire Census 2013 was released, providing insight into the world’s billionaires. The report affirms Asia as a billionaire hotspot with 3.7 percent from 2012 to 508 individual millionaires. Asia also experienced the strongest surge in wealth—12 per cent to $1.18 trillion. Asia contributed to the largest number of new billionaires this year, 12 in total. The United States takes second place with 11 new billionaires. Globally, there are 2,170 billionaires in 2013 compared with 2,160 last year.

The combined wealth from all the world’s billionaires grew 5.3 percent this year to total $6.5 trillion. UBS and Wealth-X report that the combined wealth is enough to fund the US budget deficit until 2024 and is greater than the GDP of every country in the world except the US and China.

Although Asia takes first place for new billionaires, the US still takes first place with the sheer number of overall billionaires. There are 515 billionaires in the US with a combined net worth of $2 trillion. In the US, most billionaires choose New York City as the location to base their businesses. According for the report the average billionaire is worth $3 billion and 35 percent ($1.27 billion) of their wealth is in private holdings, 35 percent is in public common stock, 18 percent is cash accounts, and three percent is real estate.

Do you want to become a billionaire but don’t have an oil field with your family’s name on it? You’re in luck, because 60% of the world’s population of billionaires is self-made. Only 20 percent inherited their wealth.

The UBS and Wealth-X report expects the billionaire population to exceed 3,800. This projection is based on the already existing ‘demi-billionaires’ with an estimated net worth of $500 to $999 million. By 2020 these demi-billionaires could reach full billionaire status. Many of the current demi-billionaires are known as ‘technopreneurs’—entrepreneurs who have made their fortune on the Internet. Their wealth rises steadily and rapidly and is changing the way billionaires are made.

If you’re Asian, 64-years-old, and male, there’s a good chance that you could become the next billionaire.

About the Author

Written by Sloane

Before joining PlentyofCheddar.com, Sloane worked as a freelance writer and illustrator for a variety of clients. She attended University of Missouri where she majored in English. Her work has been published in literary magazines, newspapers, and textbooks. She currently resides in Miami, Florida. You can learn more about me on Google +

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