Dubai 8th on billionaire-population ranking list

With 34 ultra-rich, Dubai is at the eighth slot in the ranking of cities with maximum number of billionaires.

New York is at number 1 with 103 billionaires; Moscow at number 2 with 85 rich individuals, followed by Hong Kong (82), London (72) and Beijing (37).
Globally, the billionaire population has reached a record 2,325 with the addition of 155 new billionaires added this year, according to the Wealth-X and UBS Billionaire Census 2014.

The combined wealth of the world’s billionaires increased by 12 per cent to $7.3 trillion, which is higher than the combined market capitalisation of all the companies that make up the Dow Jones Industrial Average.

The study shows that Europe is the wealthiest region with 775 billionaires and a wealth of $2.37 trillion. North America – the region with the most billionaire wealth in 2013 – was overtaken by Europe in terms of billionaire wealth in this year’s census.

Asia, however, boasted the largest billionaire wealth increase, with the region’s billionaires’ fortunes growing by 18.7 per cent over the past year. The region is responsible for 30 per cent of the net increase in global billionaire wealth in 2014.Asia’s billionaire population grew by 10 per cent in 2014, with 52 new entrants into the billionaire club – 33 are from China.

The United States maintains its position as the world’s top billionaire country with a population of 571 billionaires in 2014, followed by China (190) and the United Kingdom (130), which took the third spot from Germany (123) on the Top 40 Billionaire countries/territories list.

Europe is home to more than a third of the world’s billionaire population. Latin America and the Caribbean is the region that saw the most significant growth in terms of the size of its billionaire population (37.8 per cent) in 2014, but Asia saw the fastest growth in billionaire wealth (18.7 per cent).

The billionaire population in the Middle East shrank by 1.9 per cent, but total billionaire wealth in the region rose by 16.7 per cent.

The size of Africa’s billionaire population decreased by 4.8 per cent, but the region’s billionaire wealth increased by 12.9 per cent in 2014.

There was no change in the billionaire population in the Pacific (34 billionaires), but the region’s total billionaire wealth dropped by 2 per cent.

The study also highlights that billionaires are transnational. They move from city to city, rather than from country to country.



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