The world lost 57 billionaires last year as economic woes and the unexpected strengthening of the US dollar wiped $388 billion (CHF386 billion) from their combined wealth. Switzerland had three fewer billionaires; the 33 who remain saw their bank accounts shrink by $16 billion.
The latest edition of the Billionaires ReportExternal link from Swiss wealth manager UBS and consultants PwC made for grim reading for the top 1% of wealthy individuals around the world. Last year saw the biggest falls in their riches since the 2008 financial crisis and the first drop in their riches in three years.
In China, 48 people became mere multi-millionaires, with 22 US citizens and 13 Indians suffering the same fate.
This left a total of 2,101 billionaires dotted around the world, which is still an increase of 589 since 2013. They control a combined wealth of $8.5 trillion.
The growth rate of women reaching the higher echelons of wealth in the past five years (46% increase) outstripped men (39%). There were 233 female billionaires by the end of last year compared with 160 in 2013.
A separate study earlier this year by Credit Suisse bank stated that the amount of assets per adult in Switzerland stood at $564,650 (CHF555,000), an increase of $17,790 over the previous year.
But this wealth is not distributed evenly. An estimated 2,200 individuals are in the ultra-high net worth group, with wealth of over $50 million and 770 have net worth exceeding $100 million.
More
More
Why living on the breadline is especially hard in Switzerland
This content was published on
Switzerland is one of the richest countries in the world. But high living costs put people on low income under huge pressure.
Heavy snowfall in Switzerland causes traffic chaos and accidents
This content was published on
The heavy snowfall late on Thursday and during the night into Friday led to traffic chaos and many accidents in many regions of Switzerland.
Chimpanzee behaviours passed down through generations
This content was published on
Some of the complex behaviours of chimpanzees have been passed down and refined over generations. These include the combination of several tools for foraging.
More than 600,000 rounds of Swiss sniper ammunition reach Ukraine
This content was published on
Sniper ammunition from Swiss P Defence reached Ukraine via a Polish company in July 2023, reported SRF Investigativ on Thursday, citing official information.
Environment minister outlines Swiss efforts to limit global warming
This content was published on
Switzerland will do its part to achieve the goal of limiting global warming to 1.5 degrees Celcius, said Environment Minister Albert Rösti, who's attending COP29 in Baku.
This content was published on
Switzerland remains by a large margin the European champion of train travel, both in terms of the number of journeys per person and the number of kilometres travelled. Switzerland remains by a large margin the European champion of train travel, both in terms of the number of journeys per person and the number of kilometres travelled. Switzerland remains by a large margin the European champion of train travel, both in terms of the number of journeys per person and the number of kilometres travelled.
Assisted suicide: Sarco inventor defends himself against killing rumours
This content was published on
Sarco inventor Philip Nitschke has defended himself against rumours that one of his colleagues assisted in the suicide of a woman in Schaffhausen, northern Switzerland.
Too much attention paid to queer people, says Swiss survey
This content was published on
Most Swiss are well disposed towards LGBTQ people, according to a study. However, prejudice and intolerance persist in certain sectors of society, particularly towards transgender and intersex people.
If you want to start a conversation about a topic raised in this article or want to report factual errors, email us at english@swissinfo.ch.
Read more
More
Are most Swiss residents rich?
This content was published on
Following reader suggestions, we find out if most people calling Switzerland home can afford diamond rings and fur coats or are just making ends meet.
This content was published on
The Swiss have pulled away from the pack when it comes to assets per adult, remaining on average the wealthiest citizens in the world.
You can find an overview of ongoing debates with our journalists here . Please join us!
If you want to start a conversation about a topic raised in this article or want to report factual errors, email us at english@swissinfo.ch.