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North America is home to most billionaires, worth $4.6 trillion

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KATHMANDU: The world’s billionaires, only 3,311 individuals, represent almost $11.8 trillion in wealth. The global billionaire population continued to grow in 2021, increasing by 3%. Over the same period, billionaire wealth also increased by 18%, a report published by Visual Capitalist shows. The data from the Wealth-X Billionaire Census has been used to visualise where the world’s billionaires live and break down their collective wealth. Billionaires by Region

Rank	Region	Number of billionaires	Collective Billionaire Wealth
#1	North America	1,035	$4.6 trillion
#2	Europe	954	$3.1 trillion
#3	Asia	899	$2.9 trillion
#4	Middle East	191	$519 billion
#5	Latin America and the Caribbean	146	$465 billion
#6	Africa	46	$104 billion
#7	Pacific	40	$89 billion

North America is home to most billionaires, worth $4.6 trillion. The US, unsurprisingly, accounts for the majority of this wealth, with 975 billionaires and a collective net worth of $4.45 billion. In regional terms, Europe’s billionaire wealth is growing the fastest, up 22% year-over-year in 2021. In contrast, the year-over-year change in the Middle East was -12.5%. Asia is inching towards Europe, holding almost a quarter of all billionaire wealth worldwide, compared to Europe’s 26.5%. Wealth in Africa will also be important to watch in the coming years. Although only home to 46 billionaires currently, the change in billionaire wealth increased by almost 17% year-over-year. Additionally, while they no longer live there, a number of the world’s billionaires hail from African countries originally. Billionaires by Country

Rank	Country	Number of Billionaires	Collective Billionaire Wealth
#1	US	975	$4.45 trillion
#2	China	400	$1.45 trillion
#3	Germany	176	$602 billion
#4	India	124	$384 billion
#5	UK	120	$266 billion
#6	Hong Kong SAR	114	$287 billion
#7	Switzerland	111	$365 billion
#8	Russia	107	$475 billion
#9	Saudi Arabia	71	$192 billion
#10	France	68	$294 billion
#11	Italy	68	$207 billion
#12	Canada	60	$131 billion
#13	Brazil	52	$159 billion
#14	Singapore	50	$99 billion
#15	UAE	45	$181 billion

Among the top 15 countries, China is an obvious second in billionaire wealth to the United States, with famous billionaires like Zhang Yiming ($44.5 billion) of TikTok and Zhong Shanshan ($67.1 billion), whose wealth primarily comes from the pharmaceutical and beverages industries. It shows that Chinese billionaire wealth actually decreased 2% last year. It was India that came out on top in terms of growth, seeing a 19% increase in 2021. Billionaires by City

Rank	City	Country	Number of Billionaires
#1	New York City	US	138
#2	Hong Kong	China	114
#3	San Francisco	US	85
#4	London	UK	77
#5	Moscow	Russia	75
#6	Beijing	China	63
#7	Los Angeles	US	59
#8	Singapore	Singapore	50
#9	Shenzhen	China	44
#10	Mumbai	India	40
#11	Dubai	UAE	38
#12	Hangzhou	China	35
#13	São Paulo	Brazil	34
#14	Istanbul	Turkey	33
#15	Paris	France	33

Looking at cities, New York is home to the most billionaires — with 13 added billionaire residents last year — followed by Hong Kong. Billionaire Wealth in 2022 Billionaires have significant power and influence, not in the least because their collective wealth is equivalent to about 11.8% of global GDP. In recent billionaire news, Gautam Adani’s wealth has been soaring, most recently hitting the $145 billion mark, making him the third-richest person in the world according to Bloomberg’s Billionaire Index. However, not all billionaires are holding on to their wealth. Patagonia founder, Yvon Chouinard, recently transferred ownership of his company to an organisation that fights climate change. Over the last decade, billionaires have been grown their fortunes considerably, with wealth increasing at a faster rate than the growth in the number of billionaires themselves. According to Wealth-X, collective billionaire net worth grew by an astonishing 90% in the last 10 years. But in the shorter term, the situation is often more volatile. With markets reeling in 2022, Bloomberg reported that billionaires lost a record $1.4 trillion over the first half of the year. Once the year is over and the final numbers are in, it will be interesting to see how the billionaire landscape shapes up in comparison to the more long-term trend. READ ALSO: