Billionaires 2019: The Total Worth Of Billionaires Shrank By $400 billion
This is the second time in a decade that both the number of billionaires and total wealth shrank. According to latest figures, there are 2,153 billionaires but there were 55 more than a year ago. Also, the 46% (994) of them are poorer than they were in 2018.
Findings of the latest billionaire count
The findings cap the worth of ultra-rich at $8.7 trillion that was $400 billion up in the previous year. Altogether 247 (11%) of the billionaires are dropped out of the ranks since 2009 at the height of global financial crisis.
• Asia-Pacific has 60 fewer 10-figure billionaires
• China has 49 fewer billionaires than 2018
The only nations that witnessed a surge in the number of billionaires are the US and Brazil. In the US, there are 607 new billionaires including 14 of world’s 20 richest people. Jeff Bezos of Amazon is again the Number 1 in the world. He is closely followed by Bill Gates at Number 2.
Newcomers in the list of billionaires
A total of 195 people joined the list of billionaires in 2019. Colin Huang is the richest newcomer. The founder of Chinese discount web retailer Pinduoduo, Colin Huang went public in the US in July. Kylie Jenner, the cosmetics wunderkind, became the youngest billionaire at 21.Other notable newcomers are Spotify’s Daniel Ek and Martin Lorentzon; Juul Labs’ James Monsees and Adam Bowen, Kind Bar’s Daniel Lubetzky. The trend in the billionaire’s list shows that even the rich and the powerful aren’t immune to economic forces and weak stock markets.