In its sixth edition, the annual Wealth-X Global Billionaire Census tells us that global billionaire wealth declined by -7% and that the number of billionaires dropped -5.4% to 2,604 in 2018.
The reasons for this fall? Worldwide economic slowdown, trade tensions, market volatility and “…a late-year slump in the equity market,” according to the Census. The Asian-Pacific region of the world led this slump while simultaneously the North America billionaire class increased by +3%.
What currently “makes” billionaires? The world’s largest companies have shifted to “technology dominance” with technology maximizing gains in scalability and globalization. Additionally, according to the Census, many people working in the “highest tiers (of their companies) have often founded and currently hold major shares in now-public businesses, which, in many cases, have evolved into large, multi-national companies.”
Where do these billionaires live and what are their interests and passions?
Here is a list of cities where billionaires live, according to the 2018 Wealth-X Global Billionaire Census:
- New York
- Hong Kong
- San Francisco – highest density of billionaires
- Los Angeles
- Dubai & Mumbai tied
- Sao Paulo
Here too from the latest Wealth-X Global Billionaire Census is a list of the Interests, Passions and Hobbies of people with a net worth of more than $5B:
Real Estate 21.3%
Wealth-X concludes that once people make their fortunes, they “make the full time transition towards building a philanthropic legacy.”
Make sure to notice that “Real Estate” ranks #5 on this list of interests, passions and hobbies.