Billionaires get $1 trillion richer

The wealth held by the world’s 1,542 billionaires jumped by nearly $1 trillion in 2016. Asia’s economic expansion saw a new billionaire created every other day, with three in four living in China or India.

The population of billionaires rose by 145, or about 10% in 2016, to 1,542 billionaires, according to the UBS/PwC Billionaires Report. The surge in wealth by the world's billionaires far surpassed broader economic growth or stock markets. Their increase at, 17.4%, exceeded the global economic growth of 5.8% in 2016. The U.S. has 563 billionaires compared with 318 in China, according to the report. China added a net new 67 billionaires last year compared with 25 net new billionaires in the U.S.