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Brexit has slashed the number of UK billionaires

Matthew Nitch Smith   

Brexit has slashed the number of UK billionaires
Finance2 min read

Rich wealthy picnic

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The falling pound has been bad for UK billionaires.

The number of dollar billionaires in the UK has fallen to 106 - down from 130 since the same time last year, according to a report by wealth analysts at Wealth-X.

This was mostly down to the fall in the value of the pound, which hit a thirty-year low right after the UK voted to leave the EU in the June 23 referendum.

The combined wealth of all the UK's current billionaires is $295 billion (£226 billion), down from $395 billion ($303 billion).

Overall there are 2,473 dollar billionaires in the world, with a combined wealth of $7.68 trillion (£5.89 trillion).

Asia has the fastest growth rate of billionaires, with 678 new ones since the survey was done last year - four times more than the US.

The report has also done a profile of the typical billionaire:

  • Education: 70% have done a bachelor's degree, but only 22% went on to do a masters.
  • 57% were self-made, up 7% from last year.
  • Finance is still the biggest billionaire industry, with 15.2% of billionaires from that sector.
  • Industrial conglomerates came second most common sector at 12.8% with real estate third at 5.7%.
  • Love and Marriage: 85% of today's billionaires are married, down 1% from last year.
  • Charity: Most billionaires are pretty generous, donating an average of $110 million each over a lifetime. Education is the cause closest to their heart, making up 54.5% of donations.
  • Over $4 trillion will be passed on by billionaires through inheritance in the next 20 years.

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