Finance Billionaires get richer during pandemic as tech, healthcare stocks lift fortunes
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Billionaires get richer during pandemic as tech, healthcare stocks lift fortunes

The rise of health and tech stocks have driven higher the wealth of billionaires. Photo: AAP
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The coronavirus pandemic has made the super-rich around the globe even richer, according to a study by consulting firm PwC and major Swiss bank UBS.

At the end of July, the total assets of the world’s more than 2000 billionaires had risen to a record level of around $US10.2 ($14.3) trillion, according to the analysis, published on Wednesday.

This level surpasses the previous peak of $US8.9 trillion, reached at the end of 2017.

The increased wealth of the super rich came thanks in part to the recovery of stockmarkets, while investments in fast-growing areas such as technology and health care in particular proved to be drivers of wealth, according to the study.

There are currently 2189 men and women who have fortunes of more than a billion dollars.

Cash, real estate and luxury goods as well as stocks and corporate assets were taken into account in asseing their fortunes, while liabilities were deducted.

In Germany, the net assets of the ultra-rich rose to $US594.9 billion by the end of July, following a slump at the beginning of the coronavirus pandemic.

The number of billionaires in the country grew from from 114 to 119 members.

For the report, UBS and PwC analysed data from 2189 billionaires in 43 countries and conducted interviews with 60 billionaires.