Billionaires’ wealth more than doubles in 10 years: UBS

AFP | London

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Billionaires have seen their combined wealth shoot up 121 percent over the past decade to $14 trillion, Swiss bank UBS said yesterday, with tech billionaires’ coffers filling the fastest.

Switzerland’s biggest bank, which is among the world’s largest wealth managers, said the number of dollar billionaires increased from 1,757 to 2,682 over the past 10 years, peaking in 2021 with 2,686.

The 10th edition of UBS’s annual Billionaire Ambitions report, which tracks the wealth of the world’s richest people, found that billionaires have comfortably outperformed global equity markets over the past decade.