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[SUPER RICH] Asia’s top 10 billionaires

By Korea Herald
Published : Sept. 29, 2014 - 20:56
Everybody knows that there are billionaires living among us, but it’s hard to determine just how many billionaires there are, where they gravitate to and exactly how they make their piles.

To address these questions, Wealth-X, a Singapore-based asset information provider, and Switzerland-based UBS have released comprehensive data on the composition and dynamics of the world’s most affluent group of people since 2013.

The Korea Herald Investigative Team looked into their reports ― the Wealth-X and UBS Billionaire Census ― on Asia’s ultrawealthy. 


Billionaires worldwide

Billionaires are defined as individuals with a net worth of $1 billion or more.

Between July 2013 and June 2014, the world’s billionaire population reached a record high of 2,325 billionaires, a 7 percent rise from 2013, according to the report. 


Although the overall size of the billionaire population is small compared to the world population of 7.1 billion, the impact of billionaires on the global economy is significant, as they control nearly 4 percent of the world’s wealth.

The combined wealth of these billionaires increased by 12 percent on-year to $7.3 trillion as of June, a figure higher than the market capitalization of all the companies that make up the Dow Jones Industrial Average.

The report forecasts that by 2020, the global billionaire population will surpass 3,800 people.


Billionaires in Asia

Billionaires are global people. Many of them have registered businesses in locations that are neither their home countries nor where their main businesses were founded.

Currently, Europe is the region with the most billionaires (775), while by country, the United States boasts the highest number of billionaires (571), accounting for nearly 25 percent of the total global billionaire population.

In Asia, the billionaire population has continued to increase in size and economic significance, with a 30 percent net increase in total billionaire wealth coming from this region.

The growth in Asia’s billionaire population is due in large part to China, where 33 individuals joined the global billionaire club this year.

Asia’s billionaire population and wealth are more densely concentrated than in Europe and North America. Sixty-six percent of Asia’s billionaire wealth is concentrated in 10 cities that are also home to 55 percent of Asia’s billionaires.

While most billionaires made their fortune from financial transactions such as banking and investment, Asia’s billionaires accumulated their wealth through real estate and manufacturing. These sectors are commonly known to require constant reinvestment for future growth.


Out of all the cities in Asia, Hong Kong ranked first with 82 billionaires and $343 billion of wealth. The city was seen by many billionaires as an ideal location to set up a strategic base, as it gives them access to the larger markets of China and Southeast Asia.

Hong Kong was followed by Beijing, Singapore, Mumbai, Tokyo, Shenzhen, Shanghai, Taipei and others.

Seoul ranked ninth with 20 billionaires worth a combined $48 billion.

By Korea Herald Special Investigative Team
(hjlee0301@heraldcorp.com)

Kwon Nam-keun
Hong Seung-wan
Sung Yeon-jin
Bae Ji-sook
Yoon Hyun-jong
Min Sang-seek
Kim Hyun-il
Lee Hee-ju

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