The changing face of billionaire wealth
Single most important issue for billionaires is what they will do with their wealth, issue is more complex in Asia.
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THE rich are different, we are told. So what does a typical billionaire look like? Is he a 30-something Californian in chinos and trainers or a third-generation member of a family business dynasty? A European industrial magnate or an Asian shipping tycoon? All of these are real, but the shape of the billionaire cohort is changing significantly.
At UBS, we serve more ultra-high net worth individuals than any other bank; indeed we have a relationship with something like two-thirds of the billionaires on the planet. So if they are changing, we need to change too; the better we understand them, then the better solutions we can provide.
To find out how the dynamics of ultra-wealth are evolving, we commissioned PwC to develop a report, looking at what is happening in the wealthiest markets globally, which account for 75 per cent of all wealth. We looked at data for over 1300 billionaires in 14 countries to see what has been happening since 1995.
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