Altrata, the intelligence provider on global and ultra-rich business leaders, has released the “2023 Billionaires Census”. The tenth edition of this report, drawn from Wealth-X data, revealed that the global population of billionaires fell by 3.5% in 2022 to 3,194 people.
The last time this stock saw a decline was in 2018 and more than reversed the prior year’s gains.
“2022 was a year of extremes, as wealth markets responded to a waning global pandemic, a war in Europe, high inflation, and a new tightening cycle,” the report says. “The total net worth of the billionaire class in 2022 decreased by 5.5%, to $11.1 trillion dollars. This was the second largest annual drop in the past decade, though it only partially offset the double-digit rise in billionaire wealth recorded in 2021.”
The “2023 Billionaires Census” examines changes in the net worth of billionaires and the total population globally, by region, and among the largest cities in 2022.
Relevant data from the report:
· North America recorded declines in its billionaire population for the first time in four years.
· The millionaire population in the US fell, but it remains the dominant billionaire country.
· Asia saw the biggest drops in the number of billionaires and wealth of any region.
· The top 15 billionaire countries are home to three quarters of the world’s billionaire population; The United States, China and Germany occupy the top three places.
· The appeal of cities remains strong among billionaires, led by New York, Hong Kong and San Francisco.
· Of the highest-ranked cities, Singapore made the biggest gains in the number of billionaires in 2022, becoming home to 54 billionaires.
In 2022, the technology, healthcare, and retail sectors struggled, while those highly connected to aerospace, defense, food and beverage, construction, and transportation saw their wealth grow.
The “2023 Billionaires Census” includes an analysis of the population by age group and finds that self-made wealth dominates across all age groups of billionaires. In addition to source of wealth, the age analysis includes a breakdown by gender, industry affiliation, asset allocation, interests, and popular philanthropic causes.
The “2023 Billionaire Census” is essential reading for any provider looking to prospect and engage with people in this demographic.
For more details on the census, go here.
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