11/08/2019 | Press release | Distributed by Public on 11/08/2019 01:37
Zurich/London, 8 November 2019 - Billionaire-controlled companies have returned almost twice the average market performance over the past 15 years, new research published today reveals.
This is one of the findings of the annual UBS and PwC Billionaires Insights report, The Billionaire Effect. The report also reveals that, more broadly, billionaires' wealth dipped by USD 388 billion in 2018, following five years of growth.
Asia's billionaires saw a correction following five years of significant growth, during which their wealth almost quadrupled. By contrast, the Americas saw a slight wealth increase this year, led by prominent US tech billionaires. Despite slowing growth last year, billionaire wealth is over a third higher (34.5 percent) than five years earlier, amounting to an increase of USD 2.2 trillion.
Josef Stadler, Head of Ultra High Net Worth at UBS Global Wealth Management, commented on the new report: 'The billionaire boom of the past five years has now undergone a natural correction. The stronger dollar, combined with greater uncertainty in equity markets amidst a tough geopolitical environment, has created the conditions for this dip.
'Nevertheless, it's clear that billionaire businesses continue to thrive. Billionaires are creating and steering businesses that consistently outperform equity markets. This business acumen has also translated into their philanthropy, as billionaires seek new ways to engineer far-reaching environmental and social change. This 'Billionaire Effect' is alive and well across the world - and shows little sign of slowing.'
Key findings include: