Any thoughts about becoming a billionaire? Well, perhaps the currency plays an important part as well. How about US$ billionaires? Any thoughts where are they and what they do? Well, for what they do, here’s an earlier article: Aiming what billionaires do, first As for where all these billionaires come from, here’s one latest article with a Wealth-X’s 2019 Billionaire Census. In fact, 75% of ALL billionaires in the world resides in just 15 countries in the world. The first one may not be a surprise; the U.S because this is the biggest and most advanced economy in the world. Where’s China since they are now the second largest economy in the world?
Article in businessinsider.my The US dominates the billionaire population, having 27% of it. Its total billionaire count rose from 2017 to 2018 by 4%. However, total billionaire wealth globally decreased by 5%. Asia-Pacific countries saw a decrease in billionaires and billionaire wealth but major European countries saw both decreases and increases in billionaires, depending on economic factors.
Below are countries with the most billionaires, in ascending order.
15. Singapore – 39 billionaires
This country saw a drop in billionaires due to the negative equity performance. Singapore is one of the richest cities in the world; the total wealth of its residents amounts to $1 trillion. It’s also one of the most expensive cities to live in worldwide.
14. Canada – 45 billionaires
Ricardo Tranjan told CBC that “the rich are really sprinting ahead” of average Canadians. A CCPA report says the richest families are worth $3 billion on average. They also own as much wealth as three Canadian provinces combined.
13. Italy – 47 billionaires
Due to political instability, the billionaire population here decreased. This country is also home to many destinations frequently visited by the rich such as Amalfi coast, Portofini and Venice.
12. Brazil – 49 billionaires
The wealthy here are more cautious nowadays, according to Joe Leahy for Financial Times. Most of them reside in São Paulo.
11. The United Arab Emirates – 55 billionaires
The UAE is also the 26th-largest wealth market worldwide, according to “The UAE 2018 Wealth Report”. Dubai is home to more than half of UAE’s billionaires.
10. France – 55 billionaires
Most of France’s billionaires are wealthy due to their success in the global luxury and fashion business, as reported by Hugh Carnegy for Financial Times.
9. Saudi Arabia – 57 billionaires
Most of Saudi Arabia’s wealth is produces through the sale and export of petroleum products. According to a report by Steven John for Business Insider, the country is also home to the most profitable company worldwide.
8. India – 82 billionaires
India’s wealth indicates the severe income inequality faced. According to Business Today, India’s top 1% held 73% of the country’s wealth as of 2017. Most of the billionaires live in Mumbai.
7. Hong Kong – 87 billionaires
As Asian equity markets declined, Hong Kong saw a major decrease in billionaires. According to a report by Katie Warren of Business Insider, Hong Kong has some of the most expensive real estate globally and the ultra-rich live in multimillion-dollar mansions.
6. Switzerland – 91 billionaires
Sean Mowbray of Culture Trip says Switzerland’s wealth is because of the country’s ability to innovate and turn raw products into valuable items.
5. The UK – 97 billionaires
The report says overall billionaire weakth in the UK decreased by 16%, partly due to the weakening asset markets. However, London saw an increase in its billionaire population because of the developments of exchange rate.
4. Russia – 102 billionaires
Despite volatile energy prices and geopolitical tensions, Russia saw an increase in billionaire population. More than half of its billionaires live in Moscow.
3. Germany – 146 billionaires
“Germany’s rich are super-rich,” wrote Derek Scally for The Irish Times. Wealthy Germans tend not to flaunt their money, but treat themselves occasionally, he reported. They’re also Europe’s largest national economy
2. China – 285 billionaires
Billionaires are saturated in Shenzhen and Hangzhou. The report says billionaires in the country decreased because of the US-China trade war, softer Chinese demand, emerging market volatility and weakening global growth.
Numero Uno – The United States – 705 billionaires
Billionaires in this country have a total net worth more than the total wealth among billionaires of the previous eight-highest ranked countries combined. 27% of the world’s billionaires and 35% of global billionaire growth are by them. Most of them live in New York City, San Francisco, and Los Angeles. Article in businessinsider.my
Okay, enough of knowing. Get back to what we are doing today and perhaps making it super big? The super-wealthy usually managed to become one as an entrepreneur. It’s almost impossible to become a billionaire by earning salaries unless of course the company is a family owned entity and is doing extremely well and thus is able to pay the owner a salary which will enable him / her to become a billionaire over a period of many years. Assuming he gets a pay of US$20 million a year and does not spend a single cent, he could become one in 50 years. 🙂 Have an awesome weekend everyone.
Article written and edited by Charles. News article summarised by Dina Batrisyia.
<Featured Image is courtesy of Stock Photos from mikeledray >
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