m3n4.net
m3n4.net November 21, 2018


China leads the way as billionaires wealth sees record increase in 2017

29 October 2018, 05:40 | Vera Richards

LearnEntertainmentInvestWealth Management The World’s Billionaires Became 20% Richer in 2017 By Jackie Goodman

LearnEntertainmentInvestWealth Management The World’s Billionaires Became 20% Richer in 2017
By Jackie Goodman

The country made two billionaires every week during that period, with 199 billionaires created across the world in total, according to the 2018 UBS and PwC Billionaires Insights Report.

If current trends hold, Asian billionaires' wealth will surpass that of their American counterparts in three years.

More than 40 of the 179 new billionaires created last year inherited their wealth, and given the number of billionaires over 70 the report's authors expect a further $3.4trn to be handed down over the next 20 years. But this is just the beginning.

A significant percentage of the "newly created" billionaires are hardly the self-made men-and they are overwhelmingly men-of popular lore. "A new generation is emerging, and they see an opportunity to tackle some of the greatest environmental and societal challenges facing humankind".

USA lottery jackpots climb to $2.2 billion combined after no winners
Not surprisingly, the most Mega Million jackpot winners in the past five years have come from states with the largest populations. A man walks past Mega Millions and other lottery displays outside of The Lucky Spot in San Francisco, on October 18, 2018.

The United States, which followed China, produced 53 billionaires in 2017, said the report. Today, only 30 years after the country's government first allowed private enterprise, they number 373 - almost one in five of the global total.

Since other industries like retail and financial services rely heavily on technology, technology has become the horizontal and most other industries are verticals. 89 Chinese entrepreneurs became billionaires in 2017, roughly three times more than in the United States and EMEA.

One Chinese billionaire told the researchers: "Nowhere else in the world can you find better conditions for growth than in China". Roughly half of China's new billionaires saw their wealth dip below 10 digits by the end of the year, the report showed.

The report, jointly published by UBS Global Wealth Management and consultancy firm PricewaterhouseCoopers, was titled "New Visionaries and the Chinese Century", in which Chinese entrepreneurs are hailed as the "vanguard of a new industrial revolution". "The continued progress of wealth creation is supported by government policies liberating the economy, while urbanisation and business model disruption has crafted powerful new entrepreneurs".

PS4 owners: set your messages to private to avoid malicious system crash
The main advice though is to change the messaging options on the console so you only receive messages from friends or no one. Fortune has reached out to Sony and PlayStation for comment, and will update this story in the event that they respond.

They have driven 80 percent of the 40 main breakthrough innovations over the last 40 years.

Technology is the driving force behind what many of these billionaire entrepreneurs do.

The report noted that great wealth in Asia remains relatively volatile in a climate of rapid economic development and erratic stock markets that forge fortunes fast, but that can equally undo them. "It's hard to become a billionaire through sheer organic growth". More than one third (38 percent) of family offices are now engaged in sustainable investing, and nearly half (45 percent) plan to increase their sustainable investments in the next 12 months.

Brexit deal is 95% settled, UK's May to tell Parliament
The letters come as displeasure by some party members to the government's stance on Brexit negotiations grows. For this to happen, 48 Conservative MPs must submit letters to the Party's chairman.



Other News

Trending Now

Hudson Valley's Megyn Kelly Out At NBC After Defending Blackface
The comments drew immediate backlash across social media and, perhaps more importantly, her bosses and colleagues at NBC . I'd love to consider this a victory, but she's going to walk out with a check and more job offers somewhere else.

Golden State Warriors: 3 takeaways from 2018-19 season opener
Schroder ran the point effectively, creating shots for his guys, and chipping in 21 points, six assists, and nine rebounds. I think that last year was the year to beat the Warriors out West. "Last year at times it was a struggle for us".

French finance minister cancels trip to Saudi conference
A New York Times report , citing witnesses and other records, linked four suspects to Prince Mohammed's security detail. Saudi authorities, meanwhile, have said Khashoggi left the consulate without being harmed shortly after he arrived.

Poker Players Go Wild For $1.6 Billion Mega Millions Jackpot
With more than $1.5 billion, an exceedingly generous victor could shower roughly $307 on each of the state's five million people. The six winning numbers were printed on a ticket sold at the store off Lee Vaughn Road, about a 6.5km drive from city hall.

Netflix shares surge on positive subscriber news
That suggests Netflix may have to issue more debt to fund its ambitious plans around original content and global expansion. While Netflix blamed the poor quarter on bad forecasting, the company's actions suggested programming was a factor.

Saudi ready to boost oil output, spare capacity: minister
Concerns about the health of the global economy, leading to the equities selloff, are seeping into the oil market. US crude inventories probably rose 3.7 million barrels last week, according to a Bloomberg survey of analysts.

Migrant caravan vows to continue march toward U.S. border
The caravan was headed for Tapachula, a city about 37 km (23 miles) north of the Mexico-Guatemala border, the officers told CNN. A growing crowd of Central American migrants is resuming its advance toward the USA border in southern Mexico on Sunday.

Astros under scrutiny in sign-stealing controversy against Red Sox
Eduardo Nunez started at third base for Boston after Cora benched him in favor of Devers in Game 2. The Astros took Game 1 of the series back at Fenway Park in Boston, 7-2.

Turkey’s Leaks Are Undermining the Khashoggi Investigation
Mr Erdogan said he would discuss an ongoing investigation into the killing with members of the cabinet at a meeting on Monday. Trump initially said he believed the Saudi account, but on Saturday he said he still does not know where Khashoggi's body is.

Trump suggests ‘rogue killers’ in writer case
He's going to probably over the next couple of hours - sometime prior to your show, but he will be getting back to me. Other reports suggest Saudi Arabia may admit he died during a botched interrogation .