The world's richest people fell slightly last year as geopolitical tensions and stock market volatility reduced their wealth for the first time since 2015.

According to "Reuters," the report showed the Swiss Foundation "UBS" prepared in cooperation with the financial group "PwC" Services Professional Services, the fortunes of the world's billionaires fell by $ 388 billion to 8.539 trillion dollars.

There has been a sharp decline in wealth in Greater China, the second-largest billionaire center after the United States, and the wider Asia-Pacific region.

Private banks, including UBS, the world's largest wealth manager, have been feeling the effects of trade tensions between the United States and China and global political volatility. Last year, customers distanced themselves from trading and debt instruments and preferred to save more liquidity.

According to Joseph Stadler, head of the Net Wealth "UBS" Foundation, that despite this decline, still shows China's new billionaire every two or every two and a half-day.

Although the recovery of the stock markets of the sharp decline, witnessed at the end of 2018 helped wealth managers to increase their assets, the world's richest families are still concerned about international problems including trade tensions and the separation of Britain from the European Union and climate change are motivated to retain more of liquidity.

Simon Smiles believes, director of the very rich customers in "UBS" investments, "it is likely to re-billionaires fortunes rise again this year," he said, adding that the increase will be more modest than might suggest the financial strength of the broader market.

There are currently 2,101 billionaires around the world, a figure higher by 589 people, or 38.9 percent, compared to the wealthy five years ago. According to the annual report, the United States only billionaires who have not been exposed to the suffering in 2018, with a total wealth of about 0.1 percent rose on an annual basis.

The country with the world's largest economy is home to about 749 billionaires with a total wealth of $ 3.6 trillion.

But in contrast, it is witnessing Asia and the Pacific the largest number of the rich world, comprising 754 billionaires share 36 percent of the global map of the wealthy who exceed their wealth billion.

The total wealth of the rich region of Asia and the Pacific 2.5 trillion dollars by the end of last year.

Within Asia, China accounts for 43 percent of billionaires while India makes up 14 percent while Hong Kong and Japan-based promise to 9 percent and 4 percent respectively of the wealthy.

Overall, Europe, the Middle East, and Africa are experiencing a $ 2.4 trillion fortune for 598 billionaires.

Interestingly, in the latest version of the SNB report, there has been a noticeable increase in women's access to the wealthy list.

There are 233 women in the 2018 World's Richest List, which is 46 percent higher, compared to just 160 in 2013.

The technology sector is the only industry that has seen the wealth of the rich increase over the past year, rising by 3.4 percent to $ 1.3 trillion.

In the last five years, the wealth of technology-based billionaires has almost doubled, up 91.4 percent from 2013 to 2018.

Source: Asharqia Chamber

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