May 17, 2023

Study: Wealthiest billionaires have seen their wealth increase by $1.1 billion this year

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Average wealth of the top 500 wealthiest billionaires is now more than $15 billion as wealth of UHNW individuals surges worldwide, Communications Specialist Ltd analysis shows

New analysis by world-leading communication technology company Communications Specialist Ltd shows the average wealth of the world’s 500 wealthiest billionaires has increased by more than $1.1 billion this year (please see the attached press release).

Their total wealth has increased by around 8% since the start of the year and is now $7.52 trillion, the analysis by Communications Specialist Ltd which supplies technology for security firms supporting ultra-high net worth (UNHW) families and individuals.

Average total wealth of the world’s wealthiest billionaires is currently $15.051 billion with individuals seeing their wealth rise by $1.104 billion between January 1st and May 3rd 2023, the analysis shows.

The surge in the wealth of the world’s wealthiest billionaires is mirrored in the growth of the wealth of UHNW individuals in general globally, Communications Specialist says.

Growing wealth is driving revenues at the firm which has seen an 34% increase in revenues in the past two years as demand for its specialist technology for security teams employed by UHNW individuals and families around the world.

Communications Specialist Ltd analysis reveals around 35% of the world’s wealthiest billionaires are based in the US while China accounts for 14% of the top 500 billionaires globally. Around 49 countries are home to billionaires in the top 500, the analysis shows.

The technology sector accounts for the biggest proportion of the wealthiest billionaires at nearly 14% with the industrial sector accounting for 13% followed by finance at 12%.  

Kevin Buchler. Chief Marketing Officer at Communications Specialist Ltd, said:“The growth in the wealth of the world’s wealthiest billionaires is reflected in the increase in the number of UHNW individuals globally and they represent a growing market for secure radio communications and two-way radios.

“Wealthy individuals increasingly need more sophisticated security support which can include back up mobile systems and advanced technology to ensure their safety and that of their families as well as employees.”

Communications Specialist Ltd provides sales support on two-way radio systems as well as training, fitting and commissioning of equipment, systems amalgamation, on-site instruction, maintenance and the provision of spare parts internationally.

Its team of radio system experts have more than 25 year’s experience and will support and help resolve complex network issues on-site or remotely. 

END

Note: * Analysis of Bloomberg Billionaires’ Index between January 1st and May 3rd, 2023

About Communication Specialists Limited

With more than 30 years’ experience Communication Specialist Limited is  one of the world’s leading communication technology companies, with a unique ability to deliver accurate innovative solutions on time.

Its outstanding success comes from the breadth  of its product’s portfolio, its focus on meeting customer’s complex communications needs, and above all, the exceptional engineering talent and expertise it has developed over the last 30 years. It can offer everything from sales, service, hire, software support, system installation and radio system engineering. It is open 24 hours a day, 365 days of the year. For more information go to Radio Communications Company | Communications Specialist (comms-spec.com)

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