A wave of inheritances and profitable investments in modern technologies has led to a record level of the fortune of billionaires around the world. It now amounts to 15.8 trillion dollars (13.6 trillion euros), an increase of 13 percent in one year, according to calculations by the Swiss bank UBS.
The huge sum is in the hands of a group that is growing: now there are 2,919 billionaires, compared to 2,682 a year earlier. 91 of the new billionaires owe their presence in the elite club to inheritance. Men overwhelmingly outnumber women - 2,545 to 374.
According to UBS, the number of billionaires will continue to grow in the coming decades as the transfer of wealth accelerates.
Germany - the wealthiest region in Western Europe
The number of billionaires in Germany has increased by a third to 156, writes ARD. More billionaires live in the Federal Republic than in any other European country. A quarter of them have amassed their fortune independently, and their total wealth amounts to $692.1 billion. USB notes that this makes Germany the wealthiest region in Western Europe.
"After World War II, a solid industrial base was created in Germany, which to this day promotes innovation and growth," the Swiss bankers note. Germany is a leader in a number of industries - from pharmaceuticals to mechanical engineering to consumer goods - and offers a broad basis for entrepreneurial success, USB also notes.
The United States has the most billionaires
However, compared to the record-holder United States, the number of billionaires in Germany is small: 942 people overseas have a total fortune of about $6.9 trillion. China follows with 470 billionaires, whose total fortune is $1.8 trillion.