Billionaires in 2018, has lost $8.5 trillion

The loss was due to a strong dollar and volatile stock markets. It is worth noting that the previous five years, the fortunes only increased.

In 2018, the cumulative condition of billionaires on the planet shrank by $8.5 trillion. This is stated in the report of the Swiss Bank UBS and the international network of consulting companies PricewaterhouseCoopers (PwC), reports TASS on Friday, November 8th.

It is noted that “because of the strong dollar and the volatility of stock markets the state of billionaires decreased by $8.5 trillion after five years of growth.” However, it is emphasized that the situation in various regions of the world unequally.

In Asia was reducing the wealth of the billionaires “after five years of significant growth, during which their condition increased four times.” At the same time in North and South America, it has grown over the past year.

Overall, despite last year’s global correction, the cumulative condition of billionaires is now more than a third (34.5 per cent) exceeds the figures of five years ago, the authors of the study. In particular, the American billionaire, whose business interests lie in the technology sector, last year achieved greater success than entrepreneurs operating in other sectors of the economy, the authors of the report.

Over the past five years in the world at 46% increase in the number of women billionaires.

As stated, commenting on the publication of the report, one of the top managers of UBS’s Josef Stadler, “boom billionaires last five years is now experiencing a natural correction.”

“A stronger dollar combined with greater uncertainty in the stock markets in an environment of hard geopolitical environment created the conditions for this fall. However, it is clear that the business of billionaires continues to thrive. Billionaires create and manage businesses, which exceeds the efficiency of the stock markets,” explained Stadler.

We will remind that earlier in Kiev came to founder Jack MA AliExpress. One of the richest people in the world spoke to the students of Kharkiv University, and the next day was the speaker at the Kiev international economic forum.

It was also reported that Jack MA has estimated the potential of Ukraine, noting among the advantages of Ukraine’s fertile soil, open and prepared to change people, beautiful women, rich history.

News from the Reporter.net Telegram. Subscribe to our channel https://t.me/korrespondentnet