According to a report published by the global real estate consultancy firm Knight Frank, the number of billionaires worldwide is expected to increase by approximately 25 percent by 2031, approaching 4,000. It is stated that the speed of wealth creation is being “boosted” by profits derived particularly from the artificial intelligence (AI) sector.
“Elchi” reports that the report published by Knight Frank on Thursday predicted that the number of billionaires worldwide, currently at 3,110, would reach 3,915 in the next five years.
Liam Bailey, head of the research department, stated that the growth in the wealth of billionaires and millionaires has accelerated thanks to the technology sector and artificial intelligence.
Bailey commented: “The ability to scale a business has never been higher. Technology and artificial intelligence have enabled the creation of vast wealth much faster.”
Saudi Arabia and Poland are leading
According to the report, the fastest growth in the number of billionaires is expected to occur in Saudi Arabia. It is estimated that the number of billionaires in the country will more than double by 2031, rising from 23 to 65.
Similarly, the number of billionaires in Poland is projected to increase from 13 to 29, and in Sweden, it is expected to rise by 81 percent, from 32 to 58.
In terms of global wealth distribution, North America holds the largest share at 37 percent, followed by the Asia-Pacific region at 31 percent and Europe at 25 percent.
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