BUSINESS

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BUSINESS

World has fewer billionaires now

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Wealth wane worldwide

2023 M3M Hurun Global Rich list reports a decrease in global billionaires due to uncertainties that engulfed the global economy.

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Fewer billionaires

The world's billionaire count has decreased by 8% to 3,112 while the total global wealth fell 10% to $13.7 trillion.

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Wealth sources shifting

Consumer goods and financial services were the top sources of wealth, while semiconductors, cloud solutions, and cyber security suffered.

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Wealthy lose billions

Jeff Bezos and Elon Musk top the list of biggest losers with their wealth decreasing by $70 billion and $44 billion, respectively.

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China lose billionaires

The US and China have over half of the world's billionaires, but both saw a decline in numbers. China had the most billionaires that lost more than $1 billion.