Asia’s economic expansion saw, on average, a new billionaire created in the region every other day. Should that pace continue, Asia would overtake the U.S. as the world’s largest concentration of wealth in four years, the Swiss bank and the auditing firm said in an analysis of data from roughly 1,550 billionaires.
The world’s wealthiest individuals are on a roll with billionaires in Asia leading the pack.
Billionaire wealth increased 17 percent to $6 trillion in 2016, after a decline the previous year, UBS Group AG and PricewaterhouseCoopers said in a report issued Thursday. Led by China, the number of the region’s billionaires surpassed the U.S. for the first time.
American billionaires still control the most wealth at $2.8 trillion.