Billionaires’ combined wealth surged 121% over the past decade to USD14tr, according to UBS’s Billionaire Ambitions report. The number of billionaires rose from 1,757 to 2,682, peaking in 2021 at 2,686. Tech billionaires saw the fastest growth, tripling their wealth from USD788.9bn in 2015 to USD2.4tr in 2024, driven by e-commerce, AI, and fintech innovations. Global billionaire wealth outpaced equity markets, which grew 73% over the same period. However, growth slowed to 1% since 2020 due to a decline in China’s billionaires. North American billionaires’ wealth climbed 58.5% to USD6.1tr since 2020. In 2024, 268 new billionaires emerged, 60% of whom were entrepreneurs.