Billionaires' Wealth Skyrockets Amid Tech Boom

In the past decade, the wealth of billionaires has more than doubled, reaching a staggering $14 trillion. This surge is largely driven by the tech sector, where fortunes have tripled to $2.4 trillion due to advancements in AI, cybersecurity, fintech, 3D printing, and robotics. While the number of billionaires has increased by 50% globally, rising to 2,682, the situation in China is different. There, regulatory measures have curtailed growth, leading to an 18% decline in billionaire numbers.

European nations like Germany and Switzerland have seen a rise in their billionaire populations, while Austria has experienced a decline. Many billionaires are investing heavily in real estate, stocks, and safe havens such as gold, responding to geopolitical uncertainties. Furthermore, the COVID-19 pandemic has prompted a relocation trend among billionaires, with many moving to countries like Switzerland, Singapore, the UAE, and the USA for favorable conditions. This wealth expansion outpaces the global MSCI World Index, which increased by 73% over the same period, highlighting the extraordinary gains in the super-rich segment.