Yaaayy…
The 5th edition of the Wealth-X Billionaire Census dropped this week, and it looks like the super rich are getting super-richer — billionaires’ combined assets increased by 24% to $9.2T.
Meanwhile, the mere very rich are rising in the ranks: about 357 newcomers joined the “tres comma” club last year.
You know, the Wall Street Bell. It’s a perfect metaphor, people.
The census concludes that “climbing equity markets” caused billionaires to stack cash across all regions — particularly in China, where billionaires’ wealth grew by nearly 36%, crushing the 10% increase stateside (the US still houses the greatest number of billionaires at 680).
As of 2017, just 10 people can claim a $50B+ net worth, while 1.3k plebes sit in the $1-2B tier.
Oh, and while we’re on the subject, lady billionaires grew 18% last year — faster than male billionaires for the first time in the history of the census.