A study from Wealth-X found that the number and wealth of billionaires worldwide fell for the first time since the 2008 economic crisis. MarketWatch reports the decline was led by losses in Europe and China, while the US actually saw an increase in the number of billionaires. Weak stock performance in Europe and China, along with a strong showing in the US, contributed to the shift.
Russian billionaire Andrey Melnichenko’s 394-foot (120-metres) mega-yacht. Photo: Reuters, Tim Chong
Billionaire wealth sees first decline since Great Recession
Stock volatility in Europe and Asia last year hit the super-rich, except in the US