The World Added 412 Billionaires in 2020, Bringing the Total to 3,288
Kanebridge News
    HOUSE MEDIAN ASKING PRICES AND WEEKLY CHANGE     Sydney $1,580,369 (+1.46%)       Melbourne $968,248 (+0.35%)       Brisbane $884,749 (+1.39%)       Adelaide $811,373 (-0.34%)       Perth $760,863 (-2.94%)       Hobart $742,968 (+1.78%)       Darwin $648,153 (+0.66%)       Canberra $952,739 (+1.89%)       National $998,019 (+0.96%)                UNIT MEDIAN ASKING PRICES AND WEEKLY CHANGE     Sydney $719,049 (-0.09%)       Melbourne $491,976 (+25.26%)       Brisbane $488,613 (+1.66%)       Adelaide $415,517 (+2.98%)       Perth $408,247 (-0.12%)       Hobart $506,404 (-0.82%)       Darwin $341,678 (-4.94%)       Canberra $481,116 (-2.08%)       National $504,022 (+1.79%)                HOUSES FOR SALE AND WEEKLY CHANGE     Sydney 10,856 (+1,115)       Melbourne 15,164 (+2,253)       Brisbane 8,441 (+272)       Adelaide 2,729 (+236)       Perth 6,841 (+1,523)       Hobart 1,229 (+73)       Darwin 276 (-10)       Canberra 1,109 (+217)       National 46,645 (+5,679)                UNITS FOR SALE AND WEEKLY CHANGE     Sydney 8,816 (+356)       Melbourne 8,019 (+4,046)       Brisbane 1,858 (+11)       Adelaide 509 (+3)       Perth 1,903 (-10)       Hobart 172 (+1)       Darwin 395 (+4)       Canberra 856 (+152)       National 22,528 (+4,563)                HOUSE MEDIAN ASKING RENTS AND WEEKLY CHANGE     Sydney $780 (+$30)       Melbourne $570 ($0)       Brisbane $600 (-$30)       Adelaide $570 ($0)       Perth $630 (+$5)       Hobart $550 ($0)       Darwin $700 (+$5)       Canberra $680 (+$5)       National $644 (+$4)                UNIT MEDIAN ASKING RENTS AND WEEKLY CHANGE     Sydney $730 (-$30)       Melbourne $550 ($0)       Brisbane $625 (+$25)       Adelaide $450 (-$10)       Perth $575 (+$5)       Hobart $450 ($0)       Darwin $550 (-$10)       Canberra $565 (+$5)       National $575 (-$3)                HOUSES FOR RENT AND WEEKLY CHANGE     Sydney 5,423 (+399)       Melbourne 5,636 (+347)       Brisbane 4,280 (+665)       Adelaide 1,158 (+16)       Perth 1,894 (+159)       Hobart 373 (-3)       Darwin 149 (+7)       Canberra 629 (+31)       National 19,542 (+1,621)                UNITS FOR RENT AND WEEKLY CHANGE     Sydney 8,616 (+1,782)       Melbourne 5,988 (+275)       Brisbane 2,048 (+24)       Adelaide 365 (+22)       Perth 605 (-3)       Hobart 155 (+3)       Darwin 294 (+2)       Canberra 716 (+54)       National 18,787 (+2,159)                HOUSE ANNUAL GROSS YIELDS AND TREND       Sydney 2.57% (↑)        Melbourne 3.06% (↓)       Brisbane 3.53% (↓)     Adelaide 3.65% (↑)      Perth 4.31% (↑)        Hobart 3.85% (↓)     Darwin 5.62% (↑)        Canberra 3.71% (↓)       National 3.35% (↓)            UNIT ANNUAL GROSS YIELDS AND TREND         Sydney 5.28% (↓)       Melbourne 5.81% (↓)     Brisbane 6.65% (↑)        Adelaide 5.63% (↓)     Perth 7.32% (↑)      Hobart 4.62% (↑)      Darwin 8.37% (↑)      Canberra 6.11% (↑)        National 5.93% (↓)            HOUSE RENTAL VACANCY RATES AND TREND       Sydney 0.7% (↑)      Melbourne 0.8% (↑)      Brisbane 0.4% (↑)      Adelaide 0.4% (↑)      Perth 1.2% (↑)      Hobart 0.6% (↑)      Darwin 1.1% (↑)      Canberra 0.7% (↑)      National 0.7% (↑)             UNIT RENTAL VACANCY RATES AND TREND       Sydney 0.9% (↑)      Melbourne 1.4% (↑)      Brisbane 0.7% (↑)      Adelaide 0.3% (↑)      Perth 0.4% (↑)      Hobart 1.5% (↑)      Darwin 0.8% (↑)      Canberra 1.3% (↑)      National 0.9% (↑)             AVERAGE DAYS TO SELL HOUSES AND TREND         Sydney 27.6 (↓)       Melbourne 28.8 (↓)       Brisbane 30.9 (↓)       Adelaide 24.3 (↓)       Perth 34.1 (↓)       Hobart 28.7 (↓)     Darwin 36.9 (↑)        Canberra 27.6 (↓)     National 29.9 (↑)             AVERAGE DAYS TO SELL UNITS AND TREND         Sydney 28.6 (↓)       Melbourne 29.4 (↓)       Brisbane 30.6 (↓)       Adelaide 26.3 (↓)       Perth 39.8 (↓)       Hobart 22.1 (↓)       Darwin 37.9 (↓)       Canberra 33.4 (↓)       National 31.0 (↓)           
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The World Added 412 Billionaires in 2020, Bringing the Total to 3,288

The billionaires’ combined wealth rose 32% year over year.

By Fang Block
Thu, Mar 4, 2021 12:00amGrey Clock 2 min
The world added 412 billionaires last year, bringing the total to a record 3,288, despite the disruption caused by Covid-19, according to the Hurun Global Rich List 2021 released Tuesday.

The billionaires’ combined wealth rose 32% year over year to US$14.7 trillion, a sum that falls between the GDP of the world’s two biggest economies, the U.S. (with US$19.5 trillion) and China (with $12.2 trillion).

“A stock market boom, driven partly by quantitative easing, and flurry of new listings have minted eight new dollar billionaires a week for the past year,” Rupert Hoogewerf, Hurun Report chairman and chief researcher, said in a statement. “The world has never seen this much wealth created in just one year, much more than perhaps could have been expected for a year so badly disrupted by Covid-19.”

Three individuals added more than $50 billion in a single year, led by Tesla’s Elon Musk who added US$151 billion and climbed to the top spot of the Hurun Global Rich List with a net worth of US$197 billion. Amazon’s Jeff Bezos dropped to the second place, despite his wealth growing US$50 billion last year to a total of US$189 billion.

Colin Zheng Huang of Pinduoduo, China’s e-commerce giant, also saw his net worth grow more than $50 billion to US$69 billion, earning him the title of 19th richest billionaire in the world.

China jumped way ahead of the U.S. with 1,058 billionaires, up 259 from a year ago. The U.S. added 70 billionaires to take the total to 696 billionaires, according to the report, which calculates the billionaires’ wealth based on market data as of Jan. 15.

Other key findings in the report include:

  • Five people have more than US$100 billion, including Musk, Bezos, LVMH’s Bernard Arnault (US$114 billion), Bill Gates (US$110 billion), and Facebook’s Mark Zuckerberg (US$101 billion);
  • California-based Austin Russell of car sensor maker Luminar Technologies was the youngest self-made billionaire, at 25 years old, with US$3.5 billion;
  • Beijing had the largest number of billionaires, with 145; Shanghai (113) overtook New York (112) as the runner-up. Six of the top 10 cities with the highest concentration of billionaires were in China;
  • Healthcare and real estate tied as the main source of wealth for the world’s billionaires, each accounting for 8.7% of total billionaire wealth;
  • There were 231 self-made female billionaires, an increase of 51 from a year ago. China dominated with 69% of the world’s self-made women billionaires.

Last year saw a net addition of 17 cryptocurrency billionaires, who derived their wealth from holding currency tokens. Blockchain also had 17 billionaires, whose wealth was predominantly from crypto exchanges, according to the report.

“We are currently right in the heart of a new industrial revolution, with the ABCDEs—that is AI, blockchain, cloud, data, and e-commerce—creating new opportunities for entrepreneurs and leading to a concentration of wealth and economic power on a scale never seen before,” Hoogewerf said in the report.



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Inflation takes a dip, while bananas and melons make a mash of prices

After appeals to cashed-up Australians to stop spending, there’s a little inflationary relief in sight

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The rate of inflation in Australia has fallen to 4.9 percent, according to data from the Consumer Price Index. Inflation is down from 5.6 percent in September and a peak of 8.4 percent in December 2022.

The housing, transport and food and non-alcoholic beverages sectors were the strongest contributors to the October increase, which is consistent with trends shown in ABS data from September.

“CPI inflation is often impacted by items with volatile price changes like Automotive fuel, Fruit and vegetables, and Holiday travel,” said acting head of price statistics at the ABS, Leigh Merrington. “It can be helpful to exclude these items from the headline CPI to provide a view of underlying inflation.” 

Food and non-alcoholic beverages rose from 4.7 percent in September to 5.3 percent in the 12 months to October, driven by the rising prices of melons and bananas. 

Banana prices are trending upwards, contributing to higher food prices overall. Credit: Nigel Killeen/Getty Images

In good news for would-be home builders, new dwelling prices rose 4.7 percent, the lowest annual rise since August 2021, as a result of easing material supply conditions.

While the ABS noted that electricity prices rose 10.1 percent in the year to October, Mr Merrington said it could have been worse, if not for the introduction of the Energy Bill Relief Fund.

“Electricity prices have risen 8.4 per cent since June 2023. Excluding the rebates, Electricity prices would have increased 18.8 per cent over this period,” Mr Merrington said.  

The inflation figures come ahead of the final meeting for the year of the RBA Board next Tuesday. The board raised the cash rate by 25 basis points at the November meeting following an increase in the rate of inflation in September. 

 

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