{"id":366686,"date":"2017-10-30T11:47:17","date_gmt":"2017-10-30T11:47:17","guid":{"rendered":"http:\/\/citifmonline.com\/?p=366686"},"modified":"2017-10-30T11:47:17","modified_gmt":"2017-10-30T11:47:17","slug":"asia-now-has-more-billionaires-than-us","status":"publish","type":"post","link":"https:\/\/citifmonline.com\/?p=366686","title":{"rendered":"Asia now has more billionaires than US"},"content":{"rendered":"<p class=\"mol-para-with-font\">Asia has overtaken the United States as the region with the most billionaires for the first time.<\/p>\n<p class=\"mol-para-with-font\">Last year America had 563 billionaires while Asia had 637, a report by financial services firm UBS and auditor PricewaterhouseCoopers found.<\/p>\n<p class=\"mol-para-with-font\">The report credited the reversal of fortunes to the arrival of a new entrepreneurial class in\u00a0China, with Asia creating a new billionaire every three days on average.<\/p>\n<p><img decoding=\"async\" class=\"aligncenter\" src=\"http:\/\/i.dailymail.co.uk\/i\/pix\/2017\/10\/27\/12\/45BCC5E100000578-5021731-image-a-156_1509104433040.jpg\" \/><\/p>\n<p class=\"mol-para-with-font\">But while Asian billionaires now outnumber their US counterparts, the Americans still control more wealth in total.<\/p>\n<p class=\"mol-para-with-font\">Europe took third spot in the report&#8217;s billionaire database with 342.<\/p>\n<p class=\"mol-para-with-font\">In total there are now 1,542 billionaires in the world controlling $6trillion between them, researchers said.<\/p>\n<p><img decoding=\"async\" class=\"aligncenter\" src=\"http:\/\/i.dailymail.co.uk\/i\/pix\/2017\/10\/26\/22\/45B61F8800000578-5021731-image-a-55_1509051824810.jpg\" alt=\"Asia now has more billionaires than America and is creating one every three minutes thanks to a rising entrepreneurial class in China (pictured, the Shanghai skyline)\" \/><\/p>\n<p class=\"mol-para-with-font\">That marks a 17 per cent rise from 2015, when billionaire wealth declined.<\/p>\n<p class=\"mol-para-with-font\">The group of billionaires either owns or partly controls companies that employ 27.7 million people, it added.<\/p>\n<p class=\"mol-para-with-font\">While the chasm between the world&#8217;s rich and poor remains a burning political issue across the continents, UBS and PwC said that billionaire assets are increasingly likely to benefit the needy.<\/p>\n<p class=\"mol-para-with-font\">&#8216;Looking further forward, we estimate that $2.4trillion (2.1 trillion euros) of billionaire wealth will be transferred in the next two decades as billionaires age, with a significant amount going to philanthropic causes,&#8217; the report said.<\/p>\n<p class=\"mol-para-with-font\">Three quarters of those who newly became billionaires in 2016 were from China and India, the findings showed.<\/p>\n<p class=\"mol-para-with-font\">John Mathews, a senior figure within UBS, said: &#8216;The US still leads in the world&#8217;s largest concentration of billionaire wealth.<\/p>\n<p class=\"mol-para-with-font\">As expected in a country with such an entrepreneurial mind set, technology is the biggest driver of wealth creation.<\/p>\n<p class=\"mol-para-with-font\">&#8216;These entrepreneurs are leveraging their networks and focusing on not only growing their wealth, but also making sure they are socially impactful.&#8217;<\/p>\n<p class=\"mol-para-with-font\">The report found that billionaires are creating legacies for themselves through their cultural pursuits and are becoming more engaged in the arts and, increasingly, investing in sports clubs.<\/p>\n<p class=\"mol-para-with-font\">Private museums are growing in number and public museums are receiving more funding, increasing the accessibility of art to the public, the report said.<\/p>\n<p class=\"mol-para-with-font\">Billionaires are also helping sports clubs to become more sustainable, helping them to deliver associated benefits to the communities they are part of.<\/p>\n<p>&nbsp;<\/p>\n<p>&#8211;<\/p>\n<p>By: Daily Mail UK<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Asia has overtaken the United States as the region with the most billionaires for the first time. Last year America had 563 billionaires while Asia had 637, a report by financial services firm UBS and auditor PricewaterhouseCoopers found. The report credited the reversal of fortunes to the arrival of a new entrepreneurial class in\u00a0China, with [&hellip;]<\/p>\n","protected":false},"author":5,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"jnews-multi-image_gallery":[],"jnews_single_post":[],"jnews_primary_category":[],"jnews_social_meta":[],"jnews_override_counter":[],"footnotes":""},"categories":[107],"tags":[1797,1798,1799],"class_list":["post-366686","post","type-post","status-publish","format-standard","hentry","category-international","tag-billionaires","tag-us-team","tag-world-wealth"],"_links":{"self":[{"href":"https:\/\/citifmonline.com\/index.php?rest_route=\/wp\/v2\/posts\/366686","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/citifmonline.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/citifmonline.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/citifmonline.com\/index.php?rest_route=\/wp\/v2\/users\/5"}],"replies":[{"embeddable":true,"href":"https:\/\/citifmonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=366686"}],"version-history":[{"count":0,"href":"https:\/\/citifmonline.com\/index.php?rest_route=\/wp\/v2\/posts\/366686\/revisions"}],"wp:attachment":[{"href":"https:\/\/citifmonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=366686"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/citifmonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=366686"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/citifmonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=366686"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}