Those investing or innovating in the technology, health and industrial sectors did particularly well in the early months of the global Covid-19 outbreak, a report published on Wednesday by Swiss bank UBS revealed.
Together the world’s richest people held a record $10.2 trillion at the end of July 2020, a 14.6% increase in wealth compared to 2017, thanks primarily to stock market rallies. Today there are 2,189 billionaires worldwide, up from 2,158 in 2017.
Of these, 37 reside in Switzerland and saw their assets grow by 29% between April and July 2020, to reach a combined fortune of CHF123.5 billion ($135 billion).
Among the biggest winners were those active in the health sector, said UBS, which conducted the survey together with accounting firm PwC. New treatments, innovations in diagnostics, and more recently, research on Covid-19, have helped them record a 50% increase in their wealth, to reach $658 billion.
But it is tech billionaires who sit on the biggest fortune – $1.8 trillion in all.
UBS reported that just over 200 of the world’s billionaires have publicly committed $7.2 billion to fight the pandemic and its social and economic fallout, although donations are likely to be higher.
This is the seventh such report by the Swiss bank on the wealth of billionaires. It looked at 2,000 billionaires in 43 different markets, representing 98% of the world’s super-rich population.
Popular Stories
More
Banking & Fintech
Luxury heir claims his CHF11 billion Hermès fortune has vanished
Swiss government upbeat about ‘multimodal’ transport hubs
This content was published on
Authorities are positive about a programme to boost hubs linking different transport methods, as well as urban and rural areas.
Sudan to open border with Chad to allow in humanitarian aid
This content was published on
As peace talks continue in Geneva, Sudan has said it will open the Adre crossing on its border with Chad to allow in humanitarian aid for a period of three months.
This content was published on
On Thursday, Novartis reiterated its claim that the new US drug pricing scheme was “unconstitutional” and would lower access to medicines.
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
Billionaires’ club shrinks as economy wobbles
This content was published on
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…
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
It's been said that Switzerland is a less socialist but more successful utopia than Scandinavia. Is there any truth in this?
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.