Context:
According to the latest study released by Union Bank of Switzerland, India is home to 185 billionaires, standing in terms of global ranking as the third most populated country concerning billionaires.
Key Highlights:
- Wealth accumulated by billionaires worldwide had increased from being $6.3 trillion in 2015 and it is expected to reach $14 trillion figures in 2024, which constitutes a whopping rise of 121 percent.
- Increased by 52.64 percent globally for all billionaires: from 1,757 to 2,682.
- In 2024, the United States will house the largest number of billionaires among all countries with 835 of them.
The Union Bank of Switzerland (UBS) was a Swiss investment bank and financial services company that merged with the Swiss Bank Corporation in 1998 to form UBS AG:
| Union Bank of Switzerland | UBS AG | |
|---|---|---|
| Founded | 1862 | 1998 |
| Headquarters | Zürich | Zürich and Basel |
| Activities | Investment banking, financial services | Personal and corporate banking, investment banking, wealth management, asset management |
