In the report we explore the drivers behind this growth and some emerging trends. There are startling figures: for the first time in history there are now more billionaires in Asia than in the US, while this year’s 145 new billionaires employ at least of 2.8 million people. We uncover the increasingly powerful role played by networks: more and more families are working together on new ventures and younger entrepreneurs are tapping into a broader group of contacts to orchestrate deals.
We also shine a spotlight on the growing role billionaires play in art and sports. Billionaires have made over half of sports club acquisitions in the last two years, while a new generation of art patrons is making new and unique collections more accessible to the public.
Billionaires are enjoying resurgent growth and creating new legacies, driven by a shift in the geography of global influence. We can expect many more such shifts in the future as Asia, and in particular China, continues to grow in stature. We look forward to charting these developments in the years to come.