Tech billionaires, such as Tesla and SpaceX founder Elon Musk, have seen their combined fortune grow by 42% to a whopping $1.8 trillion.
Keystone / Alexander Becher
Those investing or innovating in the technology, health and industrial sectors did particularly well in the early months of the global Covid-19 outbreak, a report published on Wednesday by Swiss bank UBS revealed.
Together the world’s richest people held a record $10.2 trillion at the end of July 2020, a 14.6% increase in wealth compared to 2017, thanks primarily to stock market rallies. Today there are 2,189 billionaires worldwide, up from 2,158 in 2017.
Of these, 37 reside in Switzerland and saw their assets grow by 29% between April and July 2020, to reach a combined fortune of CHF123.5 billion ($135 billion).
Among the biggest winners were those active in the health sector, said UBS, which conducted the survey together with accounting firm PwC. New treatments, innovations in diagnostics, and more recently, research on Covid-19, have helped them record a 50% increase in their wealth, to reach $658 billion.
But it is tech billionaires who sit on the biggest fortune – $1.8 trillion in all.
UBS reported that just over 200 of the world’s billionaires have publicly committed $7.2 billion to fight the pandemic and its social and economic fallout, although donations are likely to be higher.
This is the seventh such report by the Swiss bank on the wealth of billionaires. It looked at 2,000 billionaires in 43 different markets, representing 98% of the world’s super-rich population.
Popular Stories
More
Workplace Switzerland
Meet the foreigners who make up a quarter of the Swiss population
What can be done to protect biodiversity in your country?
Swiss voters are set to decide on a people’s initiative calling for better protection of ecosystems in the country. Have your say on the September 22 vote.
Switzerland to host Ukraine mine action conference in October
This content was published on
Together with Ukraine, Switzerland is organising the Ukraine Mine Action Conference (UMAC2024) in Lausanne on October 17 and 18.
Switzerland revises pension expenditure downwards by billions
This content was published on
The Swiss government has corrected downwards the projected expenditure on old-age and survivor insurance in 2033 by CHF2.5 billion ($2.66 billion).
Excess mortality rate post-Covid could persist until 2033
This content was published on
According to a report by reinsurer Swiss Re, many countries are still experiencing excess mortality following the Covid-19 pandemic.
Swiss Army ends clean-up operation in storm-hit Maggia Valley
This content was published on
The Swiss Armed Forces completed 76 flight hours during the clean-up operation following the storm in the Maggia Valley in Ticino at the end of June.
Swiss cruise ship stranded on Danube River after heavy rains
This content was published on
Passengers on a Swiss river-cruise ship stranded on the Danube following heavy rainfall are still unable to disembark in Vienna due to flooding.
Golden eagles get better at flying over time, say Swiss researchers
This content was published on
Golden eagles perfect their flight as they age and learn to make better use of air currents, says a new study co-produced by Swiss researchers.
This content was published on
Public libraries in Switzerland recorded 46.3 million admissions last year, 7.4 million more than in 2022, says the Federal Statistical Office.
Swiss conservative party seeks referendum against Eurovision contest
This content was published on
The Swiss Federal Democratic Union is launching a referendum to prevent the Eurovision Song Contest from taking place in Basel next year.
Switzerland nabs 15 medals at WorldSkills championship
This content was published on
Swiss professionals have won 15 medals at the WorldSkills Championships in Lyon, France for the best finish by a European nation.
One dead, 2 children seriously injured after car crashes into Geneva sports centre
This content was published on
An 80-year-old driver crashed into several children aged around ten on Saturday after losing control of her vehicle in Geneva, before succumbing to her injuries.
If you want to start a conversation about a topic raised in this article or want to report factual errors, email us at english@swissinfo.ch.
Read more
More
Billionaires’ club shrinks as economy wobbles
This content was published on
The latest edition of the Billionaires ReportExternal link from Swiss wealth manager UBS and consultants PwC made for grim reading for the top 1% of wealthy individuals around the world. Last year saw the biggest falls in their riches since the 2008 financial crisis and the first drop in their riches in three years. In…
This content was published on
Following reader suggestions, we find out if most people calling Switzerland home can afford diamond rings and fur coats or are just making ends meet.
This content was published on
It's been said that Switzerland is a less socialist but more successful utopia than Scandinavia. Is there any truth in this?
You can find an overview of ongoing debates with our journalists here . Please join us!
If you want to start a conversation about a topic raised in this article or want to report factual errors, email us at english@swissinfo.ch.