Kuwait ranked first in the world with one billionaire for every 33,090 people, according to Ultrata Corporation magazine, which cited a report by the Ultrata Corporation, which monitors wealthy people around the world.
Kuwait is followed by San Francisco, with a billionaire for every 56,209 residents, and Hong Kong in third place with one billionaire per 59,516 inhabitants. Based on its being an urban area (capital), Kuwait is considered the highest-ranked city in terms of billionaire density.
The report placed Saudi Arabia in the ninth place in terms of the number of billionaires, with an increase of 10.9% annually, with a total wealth of $192 billion, an increase of 33% annually and the UAE ranked 15th with 45 billionaires, a decrease in their number by 10%, and with a total wealth of $181 billion, an increase of 20% annually, the report added.
Kuwait is one of the wealthiest countries in the world. Some of the Kuwait affluent people owns many properties, wealth and are names among richest persons in the world.
According to Forbes magazine, Bassam Al Ghanim is the richest man of Kuwait with a net worth of $1.6 billion. His father started Alghanim Industries and Bassam led the company in 1970s, 80s and 90s.
The Family Holding company operates in 40 different countries. It has grown by leaps and bounds by partnering with companies like British Airways, Xerox, Whirlpool, American Express, General Motors and others. Though he was born in Kuwait he spends most of his time in LA’s Bel-Air Neighbourhood.
Billionaires’ Wealth Up
Ultrata revealed that the wealth of the world’s billionaires jumped in 2021 by 17.8% to a record $11.8 trillion, with an increase in the number of billionaires in the world by 3.3% to 3,311.
The Ultrata report pointed out that billionaires monopolize a high proportion of the volume of global wealth. Last year, they represented only 0.9% of the world’s high net worth, meaning those with a fortune of $30 million and above, but they monopolized 27.4% of the total wealth of that group.
The report listed the names of 15 countries in the world that contain more than 3 quarters of the world’s total billionaires and 81% of the total wealth of billionaires.
US No 1
The report showed that North America still ranks first in the world in terms of the number of billionaires, which in 2021 reached a total of 1,035, an increase of 5.6% from 2020. Europe witnessed the largest jump in the number of billionaires to 954, an increase of 6.8% from the previous year, while the number of billionaires in Asia rose 1.8% to 899 billionaires.
The report monitored the development of the wealth of the “super billionaires” in the world, and they are 20 super billionaires, each of whom has a fortune exceeding $50 billion, revealing that among the top 5 industries in the world, the technology sector owned the youngest and most self-made billionaires, while industrial conglomerates owned the oldest and least self-made billionaires.