Home https://server7.kproxy.com/servlet/redirect.srv/sruj/smyrwpoii/p2/ Business https://server7.kproxy.com/servlet/redirect.srv/sruj/smyrwpoii/p2/ World billionaires lost a total of $ 388 billion in 2018

World billionaires lost a total of $ 388 billion in 2018

The billionaires in Asia saw their wealth decline the most.

The net worth of Chinese billionaires decreased by 12.3% when measured in US dollars. About half of this decline is due to the depreciation of the Chinese yuan against the US dollar, according to the report.

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

However, Asia is claimed to be the world's largest billionaire. In particular, Chinese billionaires have grown rapidly in the last five years, rising to become the second largest billionaire group after North America.

Who stopped the downward trend?

Despite global losses, billionaires in America have made

Driven by the successes of the technology industry, the US has actually cut off more billionaires. By the end of 201

8, there were 89 tech billionaires, up from 70 in 2017. While the wealth held by billionaires in America was flat, the total number of billionaires increased by 4.8% in 2018 to a total of 749 billionaires. in the region.

Technology entrepreneurs continue to push the global economy, driving nearly one-third of the billionaire wealth growth over the past five years.

Technical billionaires held $ 1.3 trillion in assets by the end of 2018, with their net wealth nearly doubling in five years.

Significant Impact

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

American billionaires split their donations between international and domestic causes, while European billionaires donate mainly to international projects and Asian billionaires donated locally.

Worldwide, education received the most billionaires in 2018, followed by health, culture and the arts. Poverty and the environment have received at least charitable donations.

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