Trend: Billionaire population reaches record high

The number of billionaires in the world surged and their wealth soared to record levels last year, research company Wealth-X said in its latest report. The billionaire population increased by 15 percent to 2,754 individuals, passing the previous peak of 2,473 in 2015, while their wealth rose by 24 percent to a record level of $9.2 trillion. The Wealth-X Billionaire Census 2018 attributes the significant increase in wealth to a synchronized upturn in the world economy and climbing equity markets. Led by China and India, the total billionaire population in Asia now stands at 784, overtaking North America (727) for the first time.