According to Wealth-X's Billionaire Census 2020 report, which was released on June 30, the size of the global billionaire population increased strongly in 2019, with North America and Asia seeing the strongest growth in billionaire numbers and collective net worth.
Rising by 8.5 per cent to 2,825 individuals, this increase has more than reversed the previous year’s decline, reaching an all-time high. The combined wealth of the world’s billionaires outpaced the population’s growth in 2019, rising by 10.3 per cent to US$9.4 trillion.
While prior editions of the Billionaire Census showcased only data from the previous year, the seventh edition of the report also includes key intelligence from the first months of 2020 to provide early insight into the economic impact of Covid-19. The report offers an insight into the industries that Covid-19 has affected positively, showing that the number of billionaires in technology, insurance, business services and healthcare grew by between 6 per cent and 9 per cent during the first five months of 2020 compared with 2019.
The Census also reveals data showing that over 10 per cent of the world’s billionaires have donated toward the fight against COVID-19, with these individuals tending to be younger, wealthier and more likely to have created their own wealth, compared to traditional major billionaire donors.
Hong Kong ranks seventh on the list, with a total of 96 billionaires and a combined wealth of US$280 billion. However, in terms of the cities with the most billionaires, Hong Kong ranks second, falling a place behind New York.
So, where are these billionaires calling home? Below are the top 10 countries with the most billionaires in 2020: