World Added 412 Billionaires in 2020 for Total of 3,288

Key Highlights

• Hurun Global Rich List 2021 indicates that 412 billionaires added in 2020 for total of 3,288
• Billionaires’ combined wealth increased +32% y/y to $14.7T

412 Newly Minted Billionaires in 2020

According to the just released Hurun Global Rich List 2021, 2020 was a good year for billionaires.

An additional 412 individuals became billionaires in 2020 for a total of 3,288.

The combined wealth of these 3,288 people increased +32% y/y to a staggering $14.7T.  This amount of wealth falls in between the GDP of the world’s two largest economies, the US at $19.5T and China at $12.2T.

More Wealth Generated in One Year than Ever

Rupert Hoogewerf, the chairman and chief researcher of the Hurun Report,said, “A stock market boom, driven partly by quantitative easing, and flurry of new listings have minted eight new dollar billionaires a week for the past year.  The world has never seen this much wealth created in just one year, much more than perhaps would have been expected for a year so badly disrupted by COVID-19.”

This report indicates that three individuals added more than $50B in one year led by Elon Musk (+$151B for a total of $197B)), Jeff Bezos (+$50B) for a total of $129B) and Colin Zheng Huang of Pinduoduo, China’s e-commerce giant for a total of $69B.

Other Key Findings

China led the way by adding 259 billionaires in 2020 for a total of 1,058. The US added 70 for a total of 696 billionaires.

The wealth of five people topped $100B each including Musk, Bezos, LVMH’s Bernard Arnault, Bill Gates and Facebook’s Mark Zuckerberg.

At 25 years old, Austin Russell of the car sensor maker Luminar Technologies, was the youngest self-made billionaire.

There were 231 self-made women billionaires, an increase of 51 from 2019.

Notably, healthcare and real estate tied as the main source of wealth for the world’s billionaires.  Each of these market sectors represented 8.7% of total billionaire wealth.

Thanks to Hurun Global Rich List 2021 and Barrons.

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