A new report by UBS and PwC reveals that the world’s super-rich “did extremely well” during the coronavirus crisis this year, increasing their already-huge fortunes by more than a quarter.
According to the research, their wealth grew by 27.5 percent at the height of the crisis, from April to July, reaching a combined $10.2 trillion. The billionaires had mostly benefited from betting on the recovery of global stock markets, UBS said, noting that their wealth had hit “a new high, surpassing the previous peak of $8.9 trillion reached at the end of 2017.”
The number of billionaires has also hit a new record high of 2,189 – up from 2,158 in 2017. “Billionaires did extremely well during the Covid crisis. Not only did they ride the storm to the downside, but they also gained on the upside [as stock markets rebounded],” said Josef Stadler, the head of UBS’s Ultra High Net Worth department.
Stadler explained that the super-rich were able to benefit from the crisis because they had “the stomach” to buy more company shares when equity markets around the world were crashing. Billionaires typically have “significant risk appetite” and were confident to gamble some of their considerable fortunes.
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The fact that billionaire wealth had increased so much at a time when hundreds of millions of people around the world are struggling could lead to public and political anger, Stadler said. “Is there a risk they may be singled out by society? Yes,” he said. “Are they aware of it? Yes.”
He has previously warned that the widening inequality gap between rich and poor could lead to a “strike back.”
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Billionaires’ wealth tops $10.2 TRILLION as millions struggle amid pandemic
— Read on www.rt.com/business/502770-billionaires-wealth-rise-covid/amp/
Kekayaan jutawan mencapai $ 10.2 TRILLION ketika berjuta-juta berjuang di tengah wabak
7 Okt 2020 09:04
RT
Chris Clor / Getty Images
Laporan baru oleh UBS dan PwC mendedahkan bahawa orang kaya raya dunia “melakukannya dengan sangat baik” semasa krisis koronavirus tahun ini, meningkatkan kekayaan mereka yang sudah besar lebih dari satu perempat.
Menurut penyelidikan, kekayaan mereka meningkat 27.5 peratus pada puncak krisis, dari April hingga Julai, mencapai gabungan $ 10.2 trilion. Jutawan itu kebanyakan mendapat keuntungan daripada bertaruh pada pemulihan pasaran saham global, kata UBS, sambil menyatakan bahawa kekayaan mereka telah mencapai “paras baru yang baru, melebihi puncak sebelumnya $ 8.9 trilion yang dicapai pada akhir tahun 2017.”
Jumlah jutawan juga telah mencapai rekod tertinggi 2,189 – meningkat dari 2,158 pada tahun 2017. “Jutawan berjaya dengan baik semasa krisis Covid. Bukan sahaja mereka menaikkan ribut ke bawah, tetapi mereka juga naik (ketika pasaran saham kembali pulih), ”kata Josef Stadler, ketua jabatan Ultra High Net Worth UBS.
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Stadler menjelaskan bahawa golongan kaya raya dapat memperoleh keuntungan dari krisis tersebut kerana mereka mempunyai “perut” untuk membeli lebih banyak saham syarikat ketika pasaran ekuiti di seluruh dunia mengalami kemerosotan. Jutawan biasanya mempunyai “selera risiko yang signifikan” dan yakin dapat mempertaruhkan sejumlah kekayaan mereka.
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Kenyataan bahawa kekayaan jutawan telah meningkat begitu banyak ketika ratusan juta orang di seluruh dunia sedang berjuang dapat menimbulkan kemarahan orang ramai dan politik, kata Stadler. “Apakah ada risiko yang mungkin dipilih oleh masyarakat? Ya, ”katanya. “Adakah mereka menyadarinya? Ya. ”
Dia sebelumnya telah memperingatkan bahawa jurang kesenjangan yang semakin meningkat antara kaya dan miskin dapat menyebabkan “serangan balik.”
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