Episode 327 – Billionaires are considered role models by many and disliked by many others. Although relatively tiny in terms of numbers, they have an enormous influence on our economy. Where are they headed these days?

Hello this is Bill Rainaldi, with another edition of Security Mutual’s SML Planning Minute. In today’s episode, what have billionaires been up to lately?

Billionaires are considered role models by many and disliked by many others. Proponents cite their hard work and their embrace of innovation. Detractors cite their tremendous compensation and role in income inequality.

According to a recent report by Altrata’s Billionaire Census, there are now more than 1,100 billionaires in the United States.[1] This is about a third of the worldwide total.

Although they represent a tiny portion of the population, one way or another, billionaires have an enormous influence on our economy. So, what have they been up to lately? A recent study by UBS provides some insights.[2] Here are a few of them:

So, what can we learn from these mega-wealthy individuals? For one thing, many of these people—particularly in the tech sector—are visionaries who are not afraid of taking risks.[12] Additionally, they seem to have embraced complexity when it comes to wealth and estate planning. We may not be billionaires ourselves, but we may be able to understand at least a little bit about how they think.

[1] Imberg, Maya. “Altrata’s Billionaire Census 2024.” Altrata.com. https://altrata.com/reports/altratas-billionaire-census-2024?utm_medium=referral&utm_source=press&utm_campaign=11-20-24_at_billionaire+census+2024&utm_content=PR (accessed March 13, 2025).

[2] UBS Global Wealth Management. “Billionaire Ambitions Report 2024: Wealth in Motion.”  UBS.com. https://www.ubs.com/global/en/wealthmanagement/family-office-uhnw/reports/billionaire-ambitions-report.html (accessed March 13, 2025).

[3] Imberg, Maya. “Altrata’s Billionaire Census 2024.” Altrata.com. https://altrata.com/reports/altratas-billionaire-census-2024?utm_medium=referral&utm_source=press&utm_campaign=11-20-24_at_billionaire+census+2024&utm_content=PR (accessed March 13, 2025).

[4] Id.

[5] Id.

[6] Id. 

[7] Id.

[8] Id.

[9] Id.

[10]  Galan, S. “Age distribution of billionaires globally 2022.”  Statista.com. https://www.statista.com/statistics/621046/age-distribution-of-billionaires-globally/ (accessed March 13, 2025).

[11] Imberg, Maya. “Altrata’s Billionaire Census 2024.” Altrata.com. https://altrata.com/reports/altratas-billionaire-census-2024?utm_medium=referral&utm_source=press&utm_campaign=11-20-24_at_billionaire+census+2024&utm_content=PR (accessed March 13, 2025).

[12] UBS Global Wealth Management. “Billionaire Ambitions Report 2024: Wealth in Motion.”  UBS.com. https://www.ubs.com/global/en/wealthmanagement/family-office-uhnw/reports/billionaire-ambitions-report.html (accessed March 13, 2025).

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