Billionaires had a rough year in 2015 - relatively

Billionaires had a rough year in 2015 - relatively
 

Billionaires on average became poorer last year as their collective fortunes shrank, even as Asia continued to crank out a new billionaire nearly every three days, a study released on Thursday found.
Transfers of assets within families, falling commodity prices and a stronger dollar helped reduce total billionaire wealth by $300 billion in 2015 to $5.1 trillion.
That meant the average billionaire -- there were 1,397 of them, a net gain of 50 over 2014 -- was worth only $3.7 billion, the survey of 14 big markets by Swiss wealth manager UBS (UBSG.S) and advisory group PwC [PWC.UL]... read more

 
13 October 2016 in Business, Views: 37
Source: Reuters
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