KUWAIT WITH HIGHEST RATIO OF BILLIONAIRES

  • 04/07/2022

Kuwait City: According to Global Finance, Kuwait ranks first in the world with one billionaire for every 33,090 population, citing a report by the Ultrata Corporation, which monitors wealthy people. San Francisco ranks second with one billionaire for every 56,209 residents, and Hong Kong ranks third with one billionaire for every 59,516 residents. Kuwait is the highest-ranked city in terms of billionaire density due to its status as a metropolitan area (capital). 


Ultrata announced that the wealth of the world's billionaires increased by 17.8 percent in 2021 to a record $11.8 trillion, with the number of billionaires increasing by 3.3 percent to 3,311. According to the research, billionaires control a sizable amount of global wealth. They accounted for only 0.9 percent of the world's high net worth, or individuals with a fortune of $30 million or more, last year, yet they controlled 27.4 percent of that group's total wealth. 

The survey named 15 countries that hold more than three-quarters of the world's total billionaires and 81 percent of overall billionaire wealth. According to the research, North America continues to rank first in the globe in terms of billionaires, with 1,035, a gain of 5.6 percent from 2020. Europe saw the greatest increase in the number of billionaires, up 6.8 percent from the previous year to 954, while Asia saw a 1.8 percent gain to 899 billionaires. 

The report tracked the wealth development of the world's "super billionaires," and there are 20 of them, each with a fortune exceeding $50 billion, revealing that among the top 5 industries in the world, the technology sector had the youngest and most self-made billionaires, while industrial conglomerates had the oldest and least self-made billionaires. 

The UAE ranked 15th with 45 billionaires, a decrease in their number by 10%, and a total wealth of 181 billion dollars, an increase of 20% annually, according to the report. Saudi Arabia 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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