billionaire: The study authors found that Asia is creating a new billionaire every three days, but the US billionaire population only grew by five in 2015, according to The Guardian. Europe wealthiest individuals were proving the most resilient, the report said. A report published on Thursday by UBS and Pricewaterhouse Coopers has found that falling commodity prices helped put billionaires under pressure at a time of stalling growth in technology and finance, the motors of wealth creation. In 2015, the global billionaire population effectively increased by 50 to 1,397, according to the study, but the total wealth of these individuals fell by $300bn from $5.4tn to $5.1tn, an average loss of £215m per person. At the same time, 160 people lost their billionaire status, including those who died. The study said 210 people became members of the billionaires' club in 2015, more than half of whom were in Asia, where young entrepreneurs are rapidly becoming wealthy in sectors such as real estate, technology and retail.
(news.financializer.com). As
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