Oct 29 2018
A burgeoning tech industry and startup culture that's poised to challenge Silicon Valley has been the engine for much of China's wealth creation, according to the report, which noted that China produced nearly three times as many self-made billionaires as the US a year ago.
Numerous country's 373 billionaires - nearly one in five of the global total - are self-made tycoons, often involved in the technology and retail sectors. "Over the past five years (2012-2017), the sum passed by deceased billionaires to beneficiaries has grown by an average of 17 percent each year", the UBS report concludes. The collective wealth of USA billionaires gained 12% climbing to $3.1 trillion.
It said: 'China's billionaire entrepreneurs are leading their country's economic transformation, and by extension that of the rest of Asia. Asia has 711 billionaires, compared to 631 in North America. While 106 Chinese became new billionaires previous year, 51 were dropped from the list as their net worth fell below $1 billion.
"China's vast population, technology innovation and productivity growth combined with government support, are providing unprecedented opportunities for individuals not only to build businesses but also to change people's lives for the better", said Josef Stadler, UBS' head of ultra-high net worth.
A dip in stocks globally is unlikely to hinder a rapid increase in the number of billionaires in China, but an escalation in the US-China trade war could.
It said 97 percent of them are self-made, many of them in sectors such as technology and retail.
IPhone XR now available from Vodafone
Additionally, buyers are eligible to receive offers for up to Rs. 2000 back on MakeMyTrip , Swiggy, Freshmenu, and EazyDiner. Yes, the price of the base iPhone has bumped up by $50 (the iPhone 8 cost $700 past year , and the XR costs $750 now).
Megyn Kelly Blackface Apology - Full Statement On Halloween Controversy
Megyn Kelly defended people wearing blackface on Halloween in an unbelievable " Today " show panel Tuesday morning. I've never been a "pc" kind of person - but I understand that we do need to be more sensitive in this day and age.
'There is no God,' says Stephen Hawking in final book
A percentage of the royalties of the new book will go to the Motor Neuron Disease Association and the Stephen Hawking Foundation. He first revealed them in 2010 after publishing the book "The Grand Design" with co-author Leonard Mlodinow.
By UBS' estimation, 30 percent of the 199 new self-made entrepreneurs worldwide in 2017 accumulated their wealth through innovation and business model disruption. Rates will be higher; we expect the Federal Reserve to hike rates three times next year, so the risk premium is higher. Last year, 106 new billionaires were created there - equivalent to over two new billionaires being minted each week.
Younger billionaires are the driving force behind a growth in philanthropy and sustainable investing, as they use their wealth to create positive social impact.
"Billionaires are embracing sustainable investing".
In Europe, wealth grew 19 percent to United States dollars 1.9 trillion.
The US still leads regionally, with 585 billionaires, but wealth creation in the region is slowing. Wealth transition from just five families accounted for 30 percent of the continent's wealth expansion.
Billionaires are richer than before too, with their average net-worth sitting at $4 billion.
Oct 28 2018
Former England manager Glenn Hoddle seriously ill after collapsing at TV studio
The Hayes-born former Chelsea manager, who also played for the Blues and later had a spell coaching at QPR, now works as a pundit. Former England manager Glenn Hoddle is "responding well" to treatment after being taken to hospital on Saturday.
Oct 27 2018
Police Arrest Man They Believe Is Connected To ‘MAGA Bomber’ Packages
Misspellings from his online posts matched mistakes found on the packages, according to an 11-page criminal complaint . The 13 bombs found so far were not " hoax devices", he said, calling them "IEDs", or improvised explosive devices.
Oct 27 2018
Pakistan beat Australia by 66 runs in first T20
Finch said changes had to be considered for Friday's second T20 in Dubai, which will also host the third and final game on Sunday. He scored 68 runs from 55 deliveries with the help of five boundaries and a six.
Oct 26 2018
Virat Kohli becomes fastest batsman to reach 10,000 ODI runs
Kohli also became India's highest run-getter against West Indies when he broke Tendulkar's record of 1,573 runs in 10 innings. In Guwahati, riding on centuries by Virat Kohli and Rohit Sharma, India wrapped up the match with nearly 8 overs to spare.
Oct 25 2018
Saudi prince may be involved, but I want to believe he's not
Here is, according to Erdogan, how the murder plot unfolded leading up to and including the day of the murder. It has said Mr Khashoggi died in a "fist fight" at the Saudi consulate in Istanbul on 2 October.
Oct 23 2018
United States will 'stop onslaught of illegal aliens' crossing border
The Mexican authorities had attempted to stop them at a border bridge between Mexico and Guatemala. In Honduras, protests have been held in support of the migrants in the capital city, Tegucigalpa.
Oct 22 2018
'EVERYONE WAS JUMPING': Dancing partygoers fall through floor at S.C. clubhouse
A massive piece of the floor fell through and ended up in the building's basement at the Woodlands of Clemson apartment complex. More than two-dozen people were injured when a clubhouse floor collapsed at a Clemson apartment complex early Sunday.
Oct 22 2018
Trump to Unveil 'Major Tax Cut for Middle Income People' Before Election
The president's reference to "Josh" was to Republican Josh Hawley, who has a slight lead and a lot of momentum against Sen. Trump and Republicans have made the strong economy a central reason to keep their party in power next year.
Oct 21 2018
Idiots overseas misspells graffiti on 13th century wall
The pair now face up to 10 years in prison and up to a one million baht (£25,000) fine for desecrating an historical site. CCTV footage shows two of four people approaching and spray-painting the historic Tha Phae Gate about 4 a.m. on Thursday.
Oct 20 2018
Sadio Mane injury update
Liverpool forward Sadio Mane has undergone an operation on the thumb injury he sustained on global duty with Senegal. Salah was taken off in the late stages of Egypt's game with Swaziland last Friday with a suspected groin injury.
Oct 28 2018Red Sox vs. Dodgers
Oct 26 2018Lucky lottery victor scoops record $1.6bn
Oct 25 2018Floresville resident claims $5 million Mega Millions prize
Oct 23 2018Here's Why Netflix Cancelled LUKE CAGE
Oct 23 2018Saudi king, crown prince call slain writer Khashoggi's son
Oct 20 2018IPhone XR available for pre-order from Friday
Oct 19 2018DAZN signs Canelo Alvarez to record US$365m fight deal
Oct 19 2018Djokovic beats Coric to win Shanghai Masters
Oct 18 2018Serena Williams Had the Sweetest Reaction to Meghan Markle Wearing Her Blazer
Oct 18 2018Major League Baseball investigates suspected Astros cheating in ALCS Game 1
Oct 26 2018'Russia will react if U.S. ships new missiles to Europe'
Oct 25 2018Stocks Rout to Envelop Asia as Treasuries Rally: Markets Wrap
Oct 24 201820 injured in Rome after escalator loses control
Oct 24 2018President of Turkey says he hopes Saudi writer is still alive
Oct 22 2018Legal marijuana helps Canadian Girl Guide sell cookies
Oct 22 2018Prince Harry holds Meghan Markle's hand during sailing event in Sydney
Oct 21 2018Google Pixel 3 features OLED display panel manufactured by LG, reveals teardown
Oct 21 2018Warriors receive reversible National Basketball Association title rings
Oct 20 2018Trump threatens to close Mexico border if migrants not stopped
Oct 19 2018Flu Shots are Safe, Free, and Important
Oct 18 2018Putin probably involved in assassinations but not in US
Oct 17 2018Jamal Khashoggi disappearance: Saudi crown prince 'denies involvement'