Billionaires Holding More than $1.7 trillion in Cash
The world’s billionaires are holding more than $1.7 trillion in cash, the highest amount since one firm recorded this figure in 2010. According to Wealth-X Billionaire Census, the world’s 2473 billionaires are keeping 22.2% of their total net worth in cash.
“The world’s billionaires are holding more than $1.7 trillion in cash.”
The world’s billionaires’ saw their fortunes grow last year by 5.4% to $7.7 trillion. While Europe had the biggest number of billionaires, Asia had the fastest growth in the number of billionaires. The number of billionaires grew by 15% over the prior year to 645. More than half of the world’s billionaires are what Wealth-X calls “entirely self-made,” meaning they made their fortunes themselves. Billionaires who inherited their entire fortune account for just 13 percent of the total.
About Wealth-X Billionaire Census
The only comprehensive study of the global billionaire population, the 2015 – 2016 Billionaire Census provides unprecedented insight into the assets, lifestyles, motivations and social networks of the world’s wealthiest individuals. This year’s report details the life cycle of the average billionaire, from education and accumulation of wealth to philanthropy and transfer of wealth.
Visit: Wealth-X Billionaire Census
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