Switzerland gained five new billionaires in 2017

It was a smooth ride for Swiss billionaires with a 19% increase in fortunes due to bullish markets. Keystone

The new members of the exclusive club bring the tally of billionaires in the Alpine nation to 36.

 According to a reportExternal link released by UBS bank and PwC on Friday, the assets of Swiss billionaires increased by 19% last year to $123.5 billion (CHF123.1 billion), driven in particular by bullish financial markets. While UBS does not mention names due to banking secrecy, the billionaires are mainly active in the fields of health, financial services and retail trade. 

Of the 36 Swiss-based billionaires, the proportion of entrepreneurs who have made their own fortunes is 44%, while 56% have inherited their wealth. This is the opposite of other regions. For example, self-made billionaires make up 69% of the total in the US while in the Asia-Pacific, the percentage is as high as 76%. 

While UBS has not named names, the annual ranking established by Bilan magazine sheds some light on this class of the wealthy. Among the largest Swiss fortunes are the investors Michael Pieper, Thomas Schmidheiny, as well as August von Finck who holds stakes in Mövenpick. The magazine estimates their respective assets at CHF4-5 billion. 

Other sectors are also well represented, such as the Nordmann and Maus families (assets of CHF3-4 billion), who own the Manor department store chains, as well as the Lacoste and Gant clothing brands. The Stern family, owner of the watchmaker Patek Philippe, is also included in this ranking (also CHF3-4 billion) as well as the Coninx family (CHF1.5-2 billion) which holds a stake in the Tamedia media conglomerate. 

China minted the most number of new billionaires last year (55), followed by the US (53). Globally there are 2,158 billionaires worth a combined $8.9 trillion.