Kuwait at top in billionaire ratio

Kuwait

Kuwait KuwaitKuwait has ranked first in the world with one billionaire for every 33,090 people according to Global Finance, which cited a report by the Ultrata Corporation, which tracks wealthy people. San Francisco came in second with one billionaire for every 56,209 residents, and Hong Kong came in third with one billionaire for every 59,516 people, according to the Al-Rai daily. Kuwait is regarded as the city with the highest billionaire density because it is an urban area (capital).

According to Ultrata, the wealth of the world’s billionaires increased by 17.8% percent in 2021 to a record $11.8 trillion, and there were 3.3% more billionaires overall at 3,311. According to the report, a sizable amount of the world’s wealth is controlled by a small number of billionaires. They made up just 0.9% of the world’s high net worth individuals in 2017, or those with a fortune of $30 million or more, but they controlled 27.4% of the total wealth of that group.

The research listed the names of 15 nations, which together account for 81 percent of all billionaires’ wealth and more than three-quarters of all billionaires in the world. The study revealed that, with 1,035 billionaires, an increase of 5.6 percent from 2020, North America continues to lead the world in the number of billionaires. The biggest gain in billionaires was in Europe, where there are now 954, up 6.8% from the previous year, while in Asia there are now 899 billionaires, up 1.8 percent.

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The report tracked the growth of the wealth of the 20 “super billionaires” around the world, each of whom has an estimated fortune of more than $50 billion. It found that among the top 5 global industries, the technology sector was home to the youngest and most self-made billionaires, whereas industrial conglomerates were home to the oldest and least self-made billionaires.

The UAE was ranked 15th with 45 billionaires, a decrease in their number by 10%, and with a total wealth of 181 billion dollars. Saudi Arabia was ranked ninth in terms of the number of billionaires, with an increase of 10.9 percent annually, and with a total wealth of 192 billion dollars, an increase of 33 percent annually.

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