Kuwait ranks first for billionaire ratio

Kuwait ranks first in the world with one billionaire per 33,090 people, according to Global Finance, citing a report by Ultrata Corporation, which monitors wealthy people, followed by San Francisco, with one billionaire per 56,209 people, and Hong Kong in third place with one billionaire for every 59,516 inhabitants, reports the daily Al-Rai. Based on being an urban (capital) area, Kuwait is considered the top-ranked city in terms of billionaire density.

Ultrata revealed that the wealth of the world’s billionaires jumped 17.8% in 2021 to a record $11.8 trillion, with the number of billionaires worldwide increasing by 3.3% to 3,311. The report points out that billionaires monopolize a large proportion of the volume of global wealth. Last year, they represented only 0.9% of the world’s wealth, that is to say those who had a fortune of 30 million dollars and more, but they monopolized 27.4% of the total wealth of this group.

The report lists the names of 15 countries around the world that contain more than 3 quarters of the world’s total billionaires and 81% of the total billionaire wealth. The report showed that North America still ranks first in the world in terms of the number of billionaires, which in 2021 reached a total of 1,035, a 5.6% increase from 2020. Europe saw the largest increase in the number of billionaires to 954, a 6.8% increase from the previous year, while the number of billionaires in Asia rose 1.8% to 899 billionaires.

The report tracked the wealth trend of “super billionaires” around the world, and these are 20 super billionaires, each of whom has a fortune exceeding $50 billion, revealing that among the top 5 industries in the world, the sector technology had the youngest and most self-made billionaires, while industrial conglomerates had the oldest and least self-made billionaires.

The report places Saudi Arabia in ninth place in terms of the number of billionaires, increasing by 10.9% per year, with total wealth of $192 billion, increasing by 33% per year and the Arab Emirates united in 15th place with 45 billionaires, a decrease in their number of 10%, and with a total wealth of 181 billion dollars, an increase of 20% per year.

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Sallie R. Loera