Number of world billionaires increased by 199 people last year

In 2017, the number of world billionaires increased by 199 people, Report informs citing UBS Group AG.

According to the information, their fortunes grew by 19% to $8.9 trillion.

One third of the new billionaires made money at innovations. Most of them became rich through expansion of their businesses in the Asia-Pacific region.

55 out of 199 new billionaires were recorded in China. Their fortune totaled $1.12 trillion. According to the information, Asia accounts for a greater number of billionaires than the United States.

The document says that 50 companies with the capital exceeding $1 billion have been established in China, 62 in US since 2016.