July 11, 2020

Spanish billionaires lost more than 15,000 million euros in 2018




The number of billionaires in Spain, those people with an estimated assets of at least 1,000 million dollars (905 million euros), remained constant in 29 individuals in 2018, with an aggregate wealth of about 119.3 billion dollars (108.021 million dollars). euros), figure that represents the loss of 16,700 million dollars (15,121 million euros) with respect to the assets of the largest Spanish fortunes in 2017, according to a report prepared by UBS and PwC.

Globally, a total of 2,101 individuals deserved the qualification of billionaires, of which 11% were women, compared to 2,158 in 2017, with a wealth estimated as a whole of 8.5 billion dollars (7.7 billion of euros), which implies a decrease of 4.3% or 388,000 million dollars (351,277 million euros), the first loss of equity since 2015.

"In 2018, the creation of wealth was interrupted as global stock markets suffered their worst correction since the financial crisis of 2008," the report authors explained. "The last time the wealth of billionaires went down was in 2015," they confirmed.

"The rise of billionaires in the last five years has undergone a natural correction," said Josef Stadler, director of the large fortune area at UBS Global Wealth Management, for whom the fall is explained by a stronger dollar, combined with a greater uncertainty in the stock markets amid a difficult geopolitical environment. "

Thus, the number of billionaires fell in all world regions, except in North America (+ 3.3%) and Latin America (+ 4.8%), while declining in Asia Pacific (7.4%), Western Europe (4.1%) and Eastern Europe (7.4%).

The 607 richest people in the United States accumulated in 2018 a total of 3.11 billion dollars (2.82 billion euros), ahead of 1.38 billion dollars (1.25 billion euros) in the hands of the 436 Chinese billionaires and the 421,000 million dollars (381,598 million euros) of the 98 Russians with at least one billion dollars worth of assets.

The authors of the report have highlighted that the number of women billionaires has increased 46% in the last five years, above the 39% growth rate among men.

At present, a total of 233 women have an estimated assets of at least one billion dollars, compared to 133 in 2013.

. (tagsToTranslate) billionaires (t) report

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