World's billionaires lost $388bn last year

Pedro Gonçalves
clock • 2 min read

The world's billionaires saw their fortunes decreasing by $388bn in 2018 to $8.5trn after five years of growth. According to the 2019 UBS/PwC Billionaires Report  one of the steepest drops came in Greater China, including Hong Kong and the Asia-Pacific region. Private wealth dropped 4% in Hong Kong to $319.8bn last year. The net worth of China's richest dropped 12.8%, which took dozens off of the billionaires list. Number of billionaires in India has declined by 10.9% to 106 by the end of 2018 impacted by an uncertain economic environment and financial stress. However, Asia continu...

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