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Asia billionaire wealth up 36%; tech, healthcare players pull ahead of peers

Singapore

THE fortunes of Asia's wealthiest have grown more polarising, with billionaires in the booming tech and healthcare sectors pulling ahead of their peers as the Covid-19 crisis accelerates the divergence.

Total billionaire wealth in the region rebounded by 36 per cent to US$3.3 trillion from April to end-July this year, showing signs of a post-pandemic recovery, fresh data from UBS and PwC's annual billionaire report showed on Wednesday.

But Asia billionaires identified as disruptors and innovators grew their wealth by 23 per cent to US$1.4 trillion from 2018 through to end-July 2020, compared with a smaller 13 per cent increase to US$1.2 trillion among traditional billionaires over the...

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