Billionaires’ wealth falls for first time since 2015

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Billionaires' companies are also consistently more profitable than companies not run by billionaires, and shareholders have billionaires' shared personality traits to thank, according to UBS and PwC. Of these, 14 were first-generation, or self-made, billionaires.

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"Good news", the landing pages on Warren's website, read.

Notably, women made big strides, according to the report, which found that women became billionaires at a faster pace than men over the five years to the end of 2018. That's compared to the MSCI AC World Index's 9.1% return during the same time period. The average annual returns of public billionaire-controlled companies have been almost twice as high as the performance of other companies over the past 15 years, according to the report.

Taiwan's billionaires remained predominantly male, with only one female, the report said.

"The billionaire boom of the past five years has now undergone a natural correction", Josef Stadler, the head of ultra high net worth at UBS Global Wealth Management, said in a statement on the new report.

Self-made billionaires' companies perform even better than those run by the average billionaire, UBS and PwC found. While companies run by billionaires outperformed the market on every continent, the "billionaire effect," as it is called by UBS and PwC, is strongest among United States companies. "This "Billionaire Effect" is alive and well across the world - and shows little sign of slowing".

According to the report, billionaire-controlled companies listed on equity markets returned an average 17.8% per annum between 2003 and 2018.

Taiwanese billionaires' wealth mainly comes from the real-estate, materials, and consumer and retail industries, due to the nation's social-economic environment and policies, PwC Taiwan financial services leader Richard Watanabe (吳偉臺) said at the conference. That means 589 individuals have become billionaires since 2013, increasing the population by 38.9 percent over five years.

"We've seen that these people can be successful and drive change regardless of who's in a leadership role on the political scene", said John Mathews, who oversees UBS Group AG's private wealth and ultra-high net-worth business in the Americas. "You'll still be extraordinarily rich".

"Banking today is already different today than it was five years go". They control a combined wealth of $8.5 trillion.

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"Knowing when to make the leap versus when to run in the opposite direction often means the difference between bankruptcy and billions", Badziag added.

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