Karen GilchristSource: Asia is now home to more billionaires than North AmericaAdvertisementCentral Asia is now home to more billionaires than North America, according to the latest study from ultra high net worth research firm Wealth-X. North America, meanwhile, experienced more modest gains of 11.2 percent, taking the number of billionaires who reside there to 727. The uptick marks the first time Asia’s billionaire population has exceeded that of North America. North America now ranks as the world’s third most populous continent for billionaires — moving down from second place — staking claim to 26.4 percent. The sudden surge was led largely by China, which alone saw its billionaire wealth swell by 61 percent to $1.1 trillion.

Source: The North Africa Journal May 18, 2018 03:00 UTC