Zurich — Billionaire wealth reached record high levels amid the Covid-19 pandemic, a report by UBS and PwC found, as a rally in stock prices and gains in technology and healthcare helped the wealth of the world's richest break the $10-trillion mark.
The figure represents a five- to 10-fold rise over the past 25 years, the span covered by the UBS and PwC database, when billionaire wealth stood at just over $1-trillion. The pandemic accelerated a trend of technology and healthcare entrepreneurs, and other business innovators, pulling ahead of their ultra-rich peers.
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