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Nov 8 - The world’s billionaires lost $388 billion last year


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 1 week ago '11        #1
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Sin  topics gone triple plat - Number 1 spot x4
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Nov 8 - The world’s billionaires lost $388 billion last year
 

 
Billionaire wealth dropped globally for the first time in 15 years

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The rich stopped getting richer.

The world’s billionaires saw their overall wealth drop last year — the first time that has happened in 15 years, according to the 2019 UBS/PwC Billionaires Report released on Friday.

Billionaires’ wealth fell 4.3% globally, dropping by $388 billion to $8.5 trillion last year. “The billionaire boom of the past five years has now undergone a natural correction,” explained Josef Stadler, the head of ultra high net worth at UBS Global Wealth Management, in a statement. “The stronger dollar, combined with greater uncertainty in equity markets amidst a tough geopolitical environment, has created the conditions for this dip.”

One of the steepest drops came in Greater China, including Hong Kong and the Asia-Pacific region. Private wealth dropped 4% in Hong Kong to $319.8 billion last year, according to the report, which pinned it on the months of anti-government protests that have rocked the Chinese-ruled city. The net worth of China’s richest dropped 12.8%, which took dozens off of the billionaires list.

The Americas bucked the trend, however, largely thanks to tech entrepreneurs, whose wealth rose 3.4% last year to $1.3 trillion. The wealth of billionaires in the Americas inched up 0.1% (good news for the likes of Amazon’s AMZN, -0.34% Jeff Bezos, Microsoft MSFT, +0.28% cofounder Bill Gates and Facebook’s FB, +0.75% Mark Zuckerberg), and the net number of billionaires increased by 4.8% to hit 749 by the end of 2018.

The world’s billionaire population increased overall, in fact, with the report counting 2,101 billionaires globally, or 589 more than five years ago. And that was driven in large part by women, as the report also noted that at the number of female billionaires grew 46% in five years — outpacing the growth rate of male billionaires, which was 39% in the same period.

Despite the dip in overall wealth, the report argued that billionaire businesses continue to thrive. Indeed, China is still producing a new billionaire every two to two-and-a-half days, despite the drop in wealth. The report also noted that the top three personality traits that billionaires share include being determined, being smart risk-takers, and being business-focused, which benefits their businesses.

“Billionaires are creating and steering businesses that consistently outperform equity markets. This business acumen has also translated into their philanthropy, as billionaires seek new ways to engineer far-reaching environmental and social change,” said Stadler. “This ‘Billionaire Effect’ is alive and well across the world – and shows little sign of slowing.”

visit this link https://www.marketwatch.c .. ?mod=home-page
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 1 week ago '05        #2
P-Hill|M 
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 1 week ago '19        #3
Stand Down 
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A commie country like China got billionaires poppin up every 2 days now? Makes sense.




U american “socialist” need 2 get the fu*k out this country.


Last edited by Stand Down; 11-08-2019 at 11:31 AM..

Top 10 most slapped recently  1 week ago '04        #4
Exs  topics gone triple plat - Number 1 spot x5
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and now for our next trick



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 1 week ago '11        #5
Sin  topics gone triple plat - Number 1 spot x4 OP
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 Stand Down said
A commie country like China billionaires? poppin up every 2 days now? Makes sense.




U american “socialist” need 2 get the fu*k out this country.
yeah this was a test to china billionaires to see who was real or fake

The net worth of China’s richest dropped 12.8%, which took dozens off of the billionaires list.

The Americas bucked the trend, however, largely thanks to tech entrepreneurs, whose wealth rose 3.4% last year to $1.3 trillion. The wealth of billionaires in the Americas inched up 0.1%
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 1 week ago '17        #6
Johnnytusanmi  topics gone triple plat - Number 1 spot x1
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 Sin said
yeah this was a test to china billionaires to see who was real or fake
China and faking is in their DNA
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 1 week ago '14        #7
titans7 
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 P-Hill said
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The world’s billionaires lost $388 billion last year



I had to use quarters to buy my last lotto ticket but they want empathy from me because they went from 12 figures to 11 figures.
sh*t most of us could really use $388 imagine praying for them because they are losing a billion times that amount.
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 1 week ago '05        #8
bi0 
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Nicca really caping for billionaires who wouldn’t p*ss on them if they were on fire.
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 1 week ago '14        #9
Swade009  topics gone triple plat - Number 1 spot x2
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 Stand Down said
A commie country like China got billionaires poppin up every 2 days now? Makes sense.




U american “socialist” need 2 get the fu*k out this country.
China isnt a communist country...
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 1 week ago '15        #10
Putin~Work  topics gone triple plat - Number 1 spot x6
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 Johnnytusanmi said
China and faking is in their DNA

 1 week ago '13        #11
SamDaHammer 
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 titans7 said
Cosign
The world’s billionaires lost $388 billion last year



I had to use quarters to buy my last lotto ticket but they want empathy from me because they went from 12 figures to 11 figures.
sh*t most of us could really use $388 imagine praying for them because they are losing a billion times that amount.
I feels you brother man

 1 week ago '19        #12
93NinetyFour  topics gone triple plat - Number 1 spot x1
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My pockets got fatter. Thank you, Trump.
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 1 week ago '16        #13
OWPE 
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Even the worlds billionaires dont have enough money for Elizabeth Warren's 52 trillion medicare for all plan?


 1 week ago '07        #14
Bighempin of QM 
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So where did they lose it cuz im trying to find it.



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