Asia creates a billionaire every other day, according to a report from UBS and PwC

For the Republic (Colombia)

The United States has always been considered the country of wealth and money, but this period seems to be over because Asia is ready to dislodge it from this position.

According to an annual report from UBS and PwC, Asia has managed for the first time to defeat the number of billionaires in this country of North America. In turn, they estimate that in four years they could outperform US entrepreneurs who have more than a billion dollars in their bank account.

The report estimates that Asia incorporates a new member in the billionaire club every other day – two weeks if we put the loupe alone on the Chinese market – reaching a total of 637 "partners" last year . However, the United States still occupies first place in the ranking of the greatest fortune. During the period analyzed, this selected group accumulated $ 2.8 billion, 15% more than in the previous report.

To put in context the actual size of this figure, we could say that with this money, we can repave more than 10 million kilometers of roads in Argentina or build 11 million kindergartens.. It would also be used to pay more than 500 million presidential salaries, osse, insured salary until the elections of the year 42 million.

In China, there are 373 billionaires whose combined fortunes increased by 39% to US $ 1.2 trillion. The club added 106 members in a year and had to bid farewell to 51, which according to the study describes the volatility and risk of doing business in this market. Technology, criticism and electronic commerce were the main sectors behind the rise of these tycoons.

"China's large population, technological innovation and productivity growth, combined with state support, offer individuals unprecedented opportunities to start their business," said Josef Stadler, manager from the ultra-rich UBS unit. .

The Asian dream has definitely replaced the American dream. According to the same report, in the East Market, 84% of fortunes were generated from nothing, while in the US, this number dropped to 69%. In Europe, the figure is even lower: only 45% of the billionaire's money is self-financed.

Currently, the world's richest Chinese citizen is Jack Ma, founder of Alibaba, with 36,700 million US dollars, according to the list developed by Bloomberg. However, the executive who will leave his position as president in September 2019 is ranked 19th in the ranking, overtaken by 13 Americans, three Europeans, a Mexican and an Indian. In the list prepared by Forbes magazine, the Argentines are far enough from Asia. The richest of them is Paolo Rocca – post 404 – who, with his brother Gianfelice, displays "only" 4900 million dollars.

Globally, the cream of the rich has increased its wealth by 17% – 892 000 000 USD – and went from 5 100 billion USD to 6 billion USD in 2016. The previous year, the figure had dropped 5%. The report calculates that there are 1,542 people with more than $ 1,000,000,000 and that during the period analyzed, this number has increased by 10%.