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With 950 Billionaires, Asia Surpasses All Other Regions: Forbes

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When it comes to the number of billionaires by region, Asia now has 951 more than any other region. North America has 777 billionaires and Europe 536.



A region-by-region analysis of assets owned by more than 2,400 people on the Forbes ‘Real-Time Billionaires List’, by Nikkie Asia, showed $4.7 trillion in North America, followed by $3.5 trillion in Asia and $2.4 trillion in Europe.

“By country, the US was in first place with 719 billionaires, followed by China with 440. India has 161,” the report said on Tuesday.

The 10 member countries of the Association of Southeast Asian Nations have a total of 114 billionaires, while Taiwan has 45, South Korea 28 and Japan 27.

Emerging countries now produce more billionaires than Europe and the US managed in the 19th and 20th centuries because of advances in communication technologies and globalization.

Meanwhile, Asian billionaires are dealing with some adverse effects, such as price falls and the appreciation of the dollar.

While the number of people in Forbes’ Real-Time Billionaires List fell by 245 in about six months, 126 of them were in Asia, compared to 27 North Americans, the report said.

In India, the second richest person in the world, 60-year-old Gautam Adani, tops the richest list in the country with a wealth of Rs 10,94,400 crore, according to the IIFL Wealth Hurun India Rich List 2022.

Adani is second only to Tesla CEO, Elon Musk, who has a net worth of Rs 12.37 lakh crore.

Adani topped the list by adding Rs 1,600 crore per day for the past year.

Adani’s wealth has more than doubled (116 percent) in the past year and in absolute terms he added Rs 5,88,500 crore. In the past five years, the wealth of the first generation of entrepreneurs has increased by 1440 percent.

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