10 countries with the most billionaires since the last crisis
US, WASHINGTON (ORDO NEWS) — The ranking of the richest people in the world this year included more than 2,000 people – almost three times more than ten years ago. Which countries are best able to recover from the global crisis of 2009 and find new billionaires?
Over the decade that began in 2010 immediately after the global economic crisis, we have seen rapid growth, including in stock markets around the world. This contributed to the rapid increase in impressive conditions. Over the past decade, the number of billionaires around the world has almost tripled: the Forbes ranking of the world’s richest people in 2020, published on April 7, includes 2,095 people. The total fortune of world billionaires ten years ago was estimated at $ 3.5 trillion, now – at $ 8 trillion. New billionaires during this time appeared in 61 countries.
Asia proved to be especially prolific to the wealthiest. Most billionaires in this decade have appeared in China. In 2010, there were 64 billionaires in this country, now – 389, and this is not counting another 66 in Hong Kong. The number of billionaires in Thailand has grown from three in 2010 to 20 this year. In Singapore, instead of four billionaires, it became 26. In India, the number of billionaires over the decade has increased by 108% to 102 people.
Four countries from the top 10 ranking are located in Europe – this is Germany, France, Switzerland and Italy. In 18 countries where there were no billionaires at all in 2010, at least one member of the Forbes list has appeared in this decade. Among them are Saint Kitts and Nevis, Nepal, Qatar and Tanzania.
But wealth was unevenly distributed. Ten countries, including Saudi Arabia, Turkey, Belgium, and New Zealand, have fewer billionaires. Forbes completely excluded Saudi billionaires from the rating in 2018 after losing the opportunity to get reliable information about their assets (we explained our decision in detail in this article).
In four countries – Lebanon, Georgia, Kuwait and the United Arab Emirates – the number of billionaires has not changed since 2010.
Here are 10 countries and territories where this decade has seen the largest number of billionaires.
China
Number of new billionaires since 2010: 325
Total number of billionaires: 389 (billionaires from Hong Kong are not included in this number and are indicated separately)
Noteworthy newcomers: Offcn Education Technology startup founder Li Yongxin , Contemporary Amperex Technology lithium-ion battery supplier Robin Zeng
This year, our list of the richest people in the world includes 80 new Chinese billionaires. This is the result of a decade of rapid growth in the Chinese economy: in 2010, there were 64 billionaires in China and since then their number has grown six-fold. Due to the increase in income, Chinese consumers spent more on medicine, which allowed many to make a fortune in pharmaceuticals and healthcare. Fan Minghua, CEO of Poly Pharm, a generic supplier of generics, is one of the five newcomers to the 2020 billionaire list who have grown rich thanks to the pharmaceutical industry. Her fortune is estimated at $ 1 billion.
US
Number of new billionaires since 2010: 210
Total Billionaires: 614
Noteworthy newcomers: Amazon founder, ex-wife, writer Mackenzie Bezos , Kylie Cosmetics founder Kylie Jenner, and Epic Games founder Tim Sweeney
In 2010, the fortune of 404 American billionaires was estimated at $ 1.3 trillion. This year, our global ranking includes 614 Americans, whose total fortune is estimated at $ 2.9 trillion. Over the past decade, the total number of Forbes members from the United States has increased by 52%. 210 people joined the ranks of billionaires in the USA, including 61 IT billionaires. Today, technology billionaires make up 17% of the total number of billionaires in the United States.
Germany
Number of new billionaires since 2010: 55
Total Billionaires: 107
Notable newcomers: Gabriella Meister and her family , owners of Rational AG, the kitchen appliance and accessories manufacturer
With the development of the largest economy in Europe, the number of German billionaires has more than doubled in the last decade. According to a study conducted by the German Federal Bank, from 2010 to 2017, German households became richer by an average of about 20%. This increase was especially noticeable for German real estate owners, whose fortunes grew along with rising housing prices, researchers found.
India
Number of new billionaires since 2010: 53
Total Billionaires: 102
Noteworthy newcomers: Byju’s founder of the online educational service Biju Ravindran
Despite the fact that India is in fourth place in the world in terms of growth in the number of billionaires, at the same time, there are significant fluctuations in the number of billionaires in the country. The number of Indian billionaires fell first in 2011-2012, and then again in 2015-2016. In 2019, when Narendra Modi took over as prime minister for a second term, economic growth in India slowed to a six-year low of 5%. The most successful Indian billionaire in the last decade remains oil and gas tycoon Mukesh Ambani , who has been recognized as the richest man in India for 12 consecutive years. In 2010, his fortune was estimated at $ 29 billion, in 2020 – at $ 36.8 billion.
Hong Kong
Number of new billionaires since 2010: 41
Total Billionaires: 66
Notable debutants: co-owner of Shenzhen Kinwong Electronics Zhuo Jun , developer Tang Shinbo
The past year has been hard for Hong Kong billionaires. Political protests for many months did not leave the editorials of newspapers and restrained the flow of tourists long before the outbreak of coronavirus. The billionaires in this region have shown mixed results. 21 Hong Kong billionaires on the Forbes list in 2020 increased their wealth this year, while 40 people faced asset losses. Only one thing in the last decade has remained virtually unchanged: Lee Ka-Shin, one of the most influential businessmen in Asia, until this year ranked first in the list of richest people in Hong Kong for 19 years. This year, he was finally beaten by real estate tycoon Lee Shauki.
Russia
Number of new billionaires since 2010: 40
Total Billionaires: 102
Notable debutants: Tatyana Bakalchuk , founder of WildBerries , Alexey Repik , head of the pharmaceutical company R-Pharm
This decade has been successful for the richest Russians. From 2010 to 2020, the number of Russian billionaires grew by almost 65%. Over the past decade, the second Russian billionaire woman Tatyana Bakalchuk has appeared on the list . Bakalchuk, founder and CEO of the Wildberries online store, became a billionaire last year.
France
Number of new billionaires since 2010: 27
Total Billionaires: 39
Notable debutants: head of scaffolding supplier Altrad Group Mohed Altrad , telecom magnate Patrick Drahi
In 2010, there were only 12 billionaires in France, whose assets were estimated at $ 90 billion. A third of this amount came from the most famous French billionaire – the head of the LVMH luxury goods producer Bernard Arnault Whose fortune 10 years ago was estimated at $ 27.5 billion. Since then, Arnault’s fortune has grown, as has the number of French billionaires. At the time of compiling the Forbes list in 2020, the combined fortune of 39 French billionaires was estimated at $ 304 billion, and the fortune of Arnaud, who ranked third in the list of the richest people in the world, was $ 76 billion. One of the most notable French debutants of the Forbes rating this decade is Mohed Altrad, who became a billionaire in 2015. Altrad, who heads the Altrad Group construction and repair company, began as an orphaned Bedouin family in the Syrian desert who ate only once a day. Today, his fortune is estimated at $ 3.3 billion.
Brazil
Number of new billionaires since 2010: 27
Total Billionaires: 45
Noteworthy newcomers: PagSeguro Digital payment company manager Luis Frias , founder of the Havan retailer, Luciano Hang
At the beginning of the decade, Brazil had only 18 billionaires. By 2014, this number reached a record high of 65 people. But in 2015, Brazil faced a severe economic crisis and a devaluation of the real against the dollar. Since then, the number of Brazilian billionaires has been steadily declining, with the exception of 2019, when it amounted to 58 people. That year, Luciano Hang was on the Forbes list thanks to the success of his Havan department store chain, which he founded in 1986.
Switzerland
Number of new billionaires since 2010: 24
Total Billionaires: 35
Noteworthy newcomers: Co- founder of the Partners Group investment fund Urs Wietlisbach, co-owner of the Franke Group Michael Pieper
The small but powerful Switzerland has tripled the number of its billionaires compared to the beginning of the decade. In 2010, 11 billionaires lived in the country with total assets of $ 40 billion. Today, the total fortune of 35 Swiss billionaires is estimated at $ 96 billion. Of particular interest is Michael Pieper, who entered the Forbes list in 2013, 24 years after he changed his father as CEO of Franke Group, a manufacturer of kitchen sinks and other kitchen equipment. His fortune peaked at $ 4.2 billion in 2017, and at the time of compiling the 2020 rating, it was estimated at $ 2.6 billion.
Italy
Number of new billionaires since 2010: 23
Total Billionaires: 36
Notable newcomers: Iris Ceramica Group founder Romano Minozzi , DiaSorin biotechnology company owner Gustavo Denegri
In 2010, 13 billionaires lived in Italy, but over the past decade their number has grown by 177%. Of the 36 Italian billionaires, 19 independently made a fortune. Among them – a relatively little-known debutant of the ranking Romano Minozzi. The 85-year-old entrepreneur is the founder and president of the multinational ceramic products company Iris Ceramica Group. But he made the most of his fortune thanks to his competent investments in companies like Snam and Italgas, producers of natural gas.
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