The inaugural Billionaire Census, released today, reveals that the global billionaire population reached a record 2,170 individuals in 2013 and total billionaire wealth in Asia surged nearly 13 percent, making it the fastest-growing region.
At current growth rates, the Wealth-X and UBS Billionaire Census 2013, a comprehensive global study on this ultra wealth tier, forecasts that Asia will catch up with North America in five years.
Asia also saw the highest percentage rise in billionaire population (3.7% from 2012) and total wealth (13%) in 2013, suggesting that it is driving the tectonic shifts in wealth globally, according to Wealth-X, a global provider of data on HNW and UHNW clients.
The report shows that 810 individuals have become billionaires since the 2009 global financial crisis. The billionaire population's combined net worth more than doubled from US$3.1 trillion in 2009 to US$6.5 trillion in 2013 – enough to fund the United States budget deficit until 2024. This was greater than the GDP of every country except the United States and China.
The report – which looks at the global billionaire population from July 2012 to June 2013 – examines this tier of the ultra affluent population by region, country, gender and the sources of their wealth.
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Key findings include:
• The global billionaire population rose 0.5 percent and their total wealth increased 5.3 percent in the past year.
• Europe is home to the most billionaires (766 individuals). North America has the most billionaire wealth (US$2,158 billion).
• Asia contributed the largest number of new billionaires (18) this year, followed by North America (11).
• As of 2013, the average net worth of the world's billionaires is US$3 billion.
• Globally, there are 111 individuals who each have a net worth that exceeds US$10 billion. Their combined net worth is over US$1.9 trillion, greater than the GDP of Canada.
• Despite popular notions of billionaires being jet-setting, cosmopolitan individuals, most billionaires are still based in the same locations where they were raised.
• 60 percent of billionaires are self-made, while 40 percent inherited their wealth or grew their fortunes from inheritance.
Chi-Won Yoon, chief executive of UBS Asia Pacific. "In Asia, most billionaires are entrepreneurs who remain heavily involved in their family businesses."
For the report's microsite and additional video commentaries by Wealth-X and UBS executives, visit www.billionairecensus.com
Wealth-X defines UHNW individuals as those with assets of US$30 million and above. Headquartered in Singapore, Wealth-X has 12 offices across five continents.