Cina. Fabbrica un nuovo miliardario ogni settimana.

Giuseppe Sandro Mela.

2016-10-16.

Un sistema economico che produce un nuovo miliardario alla settimana è tutto tranne che malaticcio.

Ai calunniatori cronici verrebbe da chiedere:

“Quantii nuovi miliardari ha prodotto l’Italia negli ultimi venti anni?”

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È stato pubblicato l’UBS/PwC Billionaires Report.

«Led by China, Asia is creating one billionaire every three days. One hundred and thirteen Asian entrepreneurs attained billionaire status during the year, accounting for more than half (54%) of 2015’s global total.»

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«We are about to witness the largest-ever transfer of billionaire wealth. We estimate that fewer than 500 people will hand over USD 2.1 trillion to their heirs over the next 20 years. For most Asian economies, where over 85 per cent of billionaires are first generation, this will be the first-ever handover of billionaire wealth.

This year’s UBS/PwC Billionaire Report explores the potential impact of this massive handover. It examines how the values of the millennials differ from their parents and how this will fundamentally alter the structure and use of that inherited wealth.

We ask what Asia can learn from Europe about multigenerational wealth preservation. We also investigate how rising billionaire philanthropy could be boosted by repeating the same formula that underpinned their success to start with, i.e. business focus and smart risk taking.

The report is the most comprehensive of its kind, incorporating 20 years of data that track more than 1,400 billionaires. It covers the 14 largest billionaire markets, accounting for 80 per cent of global billionaire wealth. The report also draws on insights from interviews with more than 30 billionaires, 30 heirs and 20 billionaire advisors.

Billionaires matter. They create and hold immense wealth. Shifts in the structure of that wealth matters to the wealthy and their families. But they also impact the global economy and society as a whole. This report shines a light on tomorrow’s wealth landscape.»

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«Many of the millennial generation inheriting billionaire wealth believe in doing good by doing well. In other words, they see business success as a way of benefiting society. Their business goals must deliver not only returns to the family, but also tangible benefits to a wide group of stakeholders – including employees, customers and society at large. While corporate sustainability in the past has often been accused of “greenwashing”, these young billionaires are passionately committed to their cause. One related how he was not interested in his father’s main electronics business but wanted to work in the family agriculture business. His goal: to make it even more sustainable.»

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→ UBS. 2016-10-14. PwC Billionaires Report 2016.

Welcome to the third edition of the UBS/PwC Billionaires Report. Following our first comprehensive reports on billionaire wealth in 2015, we continue our investigation into this historic era of wealth generation. This year we have analyzed data covering 1,397 billionaires looking back over two decades. Our database includes 14 of the largest billionaire markets, which account for around 80% of global billionaire wealth. Further, we’ve conducted over 20 interviews with billionaire advisors and further face-to-face interviews with more than 30 billionaires and approximately 30 of their heirs. UBS and PwC advise a large number of the world’s wealthy and have unique insights into their changing fortunes and needs.

With the world’s largest billionaire population, the US sets the pace. Great wealth creation continues in the US, but it is slowing. The country’s billionaire population grew by just five in 2015, to 538. Yet their total wealth fell by 6% – from USD 2.6trn to USD 2.4trn. While US self-made billionaires have driven this Gilded Age, and the US hosts almost half (47%) of billionaire wealth, the world’s leading billionaire economy has lost some of its momentum.

After more than 20 years of great wealth creation, the Second Gilded Age has hesitated. The transfer of assets within families, commodity price deflation and an appreciating US dollar have emerged as significant headwinds. In 2015, 210 fortunes broke through the billion-dollar wealth ceiling, increasing the billionaire population in the markets we cover (14 of the largest billionaire markets) to 1,397. Yet their total wealth fell from USD 5.4trn to USD 5.1trn. Average wealth fell from USD 4bn in 2014 to USD 3.7bn in 2015. It is too early to tell if 2015 signals a pause in the Gilded Age or something more.

The past 20 years’ exceptional wealth creation will soon be followed by the biggest-ever wealth transfer. We estimate that fewer than 500 people (460 of the billionaires in the markets we cover) will hand over USD 2.1trn, equivalent to India’s GDP, to their heirs in the next 20 years. For most of Asia’s young economies, this will be the first-ever handover of billionaire wealth, as over 85% are first generation.

The Second Gilded Age has paused. Wealth transfer and commodity price deflation are putting billionaires under pressure at a time when technology and finance, the motors of great wealth creation, have stalled. This is chiefly a US phenomenon, but even in Asia billionaire wealth has stopped growing. The notable exception to this trend is China, where billionaires continue to thrive. 2015’s data alone does not set a trend. We expect financial asset performance and economic growth to create a favourable environment for billionaire wealth creation in 2016 and 2017. For financial investors, global equity and credit markets are expected to deliver positive returns. For entrepreneurs and portfolio investors, UBS forecasts the global economy will grow 5.6% (in nominal terms) in 2016 and a further 6.1% in 2017. Finally, over 80% of the entrepreneurs in our UBS Industry Leader Network have consistently reported stable or improving business outlooks in 2016.

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→ Business Insider. 2016-10-14. China gets a new billionaire every 5 days

Asia has reportedly produced a new billionaire every week.

Well, it turns out to be much faster than that.

A new report by UBS and PricewaterhouseCoopers found that one billionaire pops up in Asia every three days, outpacing all other regions in the world.

China accounted for 71% of Asia’s new billionaires in 2015, up from 35% in 2009, according to the report, which has analyzed data covering more than 1,300 billionaires over the past two decades.

Of 113 Asian entrepreneurs who reached billionaire status last year, 80 of them are from China, the report says. That’s more than half of the world’s total count, and means China gains a new billionaire every five days. 

Last September, the government earmarked innovation reform as a priority. “Promoting entrepreneurship and innovation will offer college graduates opportunities for fair competition no matter where in the country they come from,” Premier Li Keqiang said in a meeting with tech companies.

This fosters a favorable environment for young Chinese entrepreneurs to get rich fast, according to the report.

Here is UBS-PwC:

“Almost half of these came from the technology (19%), consumer & retail (15%) and real estate (15%) sectors. E-commerce businesses are in the ascendancy. At the same time, many of the country’s wealthy are diversifying out of their existing businesses into real estate. Moreover, China’s urbanization and increasing consumer spending have fostered an environment where businesses are growing fast.”

Outside China, but still in Asia, Hong Kong and India had the highest number of new billionaires at 11 each, according to the report.

Meanwhile, Europe was home to 56 new billionaires. Most European billionaires inherited their wealth, which was almost unchanged from the previous year at $1.3 trillion.

The count of new US billionaires was relatively stagnant. While 41 people achieving billionaire status last year, 36 dropped out of the group, according to the report.

Of note, one key difference between US self-made billionaires and the rest of the world is that they tend to cash out or pass much of their wealth to philanthropies, said Steven Crosby, senior managing director of global private banking and wealth management at PwC.

In Europe, there’s a much stronger family dynasty culture, thanks to a shared vision and clear governance, the report says.