The Rich Get Richer, Says Latest Billionaire Report

Investing.com - The latest billionaire insights have been released by UBS and PwC. In 2016, the total number of billionaires rose 10%, to 1,542 with a total wealth of $6 trillion – up from $5.1 trillion. The gain in total billionaire wealth was twice the 8.5% increase of the MSCI AC World Index.70% of billionaires are self-made, like Facebook (NASDAQ:FB)'s Mark Zuckerberg or Tesla (NASDAQ:TSLA)'s Elon Musk.Combined, companies owned by billionaires employ at least 27.7 million people.The average age of billionaires today is 63.Chang Yun Chung, a Singaporean shipping magnate, is the world's oldest billionaire at age 98. Alexandra Andresen, a Norwegian heiress, is the youngest billionaire, at age 21.Asia has the most billionaires, surpassing the USA for the first time. Europe has a lot of old money. Overall, American billionaires – led by Gates, Bezos, and Buffett – still have the most money…At least for now.