According to a report, the fortune of the world's richest families grew over 22 per cent in the past year with the Waltons who head the retail giant Walmart in the US topping the list for the fourth consecutive year.

The Waltons witnessed their fortune zoom $23 billion in the last year. The family's net worth is $232 billion, according to&nbsp;the Bloomberg report.

The <a href="https://www.wionews.com/science/billionaire-space-race-can-add-to-global-warming-399051">wealth</a> acquired by luxury dynasties grew exponentially with the Hermes increasing their wealth to $111.6 billion. However, the Lee family which owns Samsung fell off from the list after paying $11 billion in inheritance tax after the death of patriarch Lee Kun-hee, the report said.

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New York-based Lauders of cosmetics-maker Estee Lauder entered the list as the combined wealth of 25 richest families showed their net worth was worth $1.7 trillion as they gained $312 billion in past one year. The&nbsp;Dassault&nbsp;family which owns the aviation company also entered the elite rich&nbsp;list.

A research earlier had highlighted over one per cent of adults worldwide had become millionaires for the first time last year amid the pandemic. The number of ultra-high net worth individuals had grown by 24 per cent last year which was the fastest since 2003, the Credit Suisse research had said.

The United States is reportedly the No-1 country in terms of billionaire growth with 29 per cent which accounted&nbsp;for 37 per cent of cumulative billionaire wealth last year followed by <a href="https://www.wionews.com/business-economy/china-cracks-down-on-tech-titans-billionaire-loses-27-billion-in-worlds-biggest-wealth-drop-413853">China </a>and Germany. According to Wealth-X's 2021 billionaire census, nearly 60 per cent of billionaires last year were "self-made".

The increase in billionaires was mainly in the technology, shipping and auto industries.

The "super billionaires" list was led by Amazon's Jeff Bezos,<a href="https://www.wionews.com/world/pace-to-reach-space-shoots-up-as-spacex-set-to-launch-billionaire-into-orbit-412597"> SpaceX</a> CEO Elon Musk, LVMH Moët Hennessy chairman and CEO Bernard Arnault and Microsoft co-founder Bill Gates.

(With inputs from Agencies)

According to a report, the fortune of the world's richest families grew over 22 per cent in the past year with the Waltons who head the retail giant Walmart in the US topping the list for the fourth consecutive year.

According to a report, the fortune of the world's richest families grew over 22 per cent in the past year with the Waltons who head the retail giant Walmart in the US topping the list for the fourth consecutive year. The Waltons witnessed their fortune zoom $23 billion in the last year. The family's net worth is $232 billion, according to the Bloomberg report. The wealth acquired by luxury dynasties grew exponentially with the Hermes increasing their wealth to $111.6 billion. However, the Lee family which owns Samsung fell off from the list after paying $11 billion in inheritance tax after the death of patriarch Lee Kun-hee, the report said. Watch: New York-based Lauders of cosmetics-maker Estee Lauder entered the list as the combined wealth of 25 richest families showed their net worth was worth $1.7 trillion as they gained $312 billion in past one year. The Dassault family which owns the aviation company also entered the elite rich list. A research earlier had highlighted over one per cent of adults worldwide had become millionaires for the first time last year amid the pandemic. The number of ultra-high net worth individuals had grown by 24 per cent last year which was the fastest since 2003, the Credit Suisse research had said. The United States is reportedly the No-1 country in terms of billionaire growth with 29 per cent which accounted for 37 per cent of cumulative billionaire wealth last year followed by China and Germany. According to Wealth-X's 2021 billionaire census, nearly 60 per cent of billionaires last year were "self-made". The increase in billionaires was mainly in the technology, shipping and auto industries. The "super billionaires" list was led by Amazon's Jeff Bezos, SpaceX CEO Elon Musk, LVMH Moët Hennessy chairman and CEO Bernard Arnault and Microsoft co-founder Bill Gates. (With inputs from Agencies)

World’s 25 wealthiest families are now worth $1.7 trillion; grew richer in one year

The wealth of the world's&nbsp;billionaires has reached a new high amid the coronavirus crisis according to a latest report by Swiss bank&nbsp;a report by UBS.

The report found that&nbsp;billionaires did ''extremely well'' as a rally in stock prices and gains in technology and healthcare helped the wealth of the world's richest break the $10 trillion mark.

It covered over 2,000&nbsp;billionaires representing some 98 per cent&nbsp;of the cohort's total wealth. The report states&nbsp;billionaire&nbsp;wealth grew by more than a quarter during the early months of the pandemic to reach $10.2 trillion in July, breaking the previous record of $8.9 trillion at the end of 2019.

Also read:&nbsp;<a href="https://www.wionews.com/world/amid-coronavirus-pandemic-billionaires-get-richer-as-americans-lose-jobs-303714">Amid coronavirus pandemic, billionaires get richer as Americans lose jobs</a>

According to the&nbsp;UBS and PwC database,&nbsp;25 years ago&nbsp;billionaire&nbsp;wealth stood at just over $1 trillion, but there has been&nbsp;five- to ten-fold rise over the period of time.

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Between April 7 and July 31 this year,&nbsp;billionaires across every industry covered by the study saw their wealth rise by double digits, with&nbsp;billionaires in the technology, healthcare and industrial sectors leading the pack with 36 per cent to 44&nbsp;per cent&nbsp;gains.

The pandemic accelerated a trend of technology and healthcare entrepreneurs, and other business innovators, pulling ahead of their ultra-rich peers.

From 2018 through July 2020, tech&nbsp;billionaires saw their wealth rise 42.5&nbsp;per cent&nbsp;to $1.8 trillion, the report found, while&nbsp;billionaires deriving their fortune from healthcare similarly saw their wealth rise 50.3&nbsp;per cent&nbsp;during the period to $658.6 billion.

Just over 200 of those&nbsp;billionaires publicly committed some $7.2 billion to help tackle the COVID-19 pandemic, the study found, noting that&nbsp;billionaire&nbsp;donations to combat the medical crisis as well as the societal and economic turmoil it caused were likely actually higher.

The wealth of the world's billionaires has reached a new high amid the coronavirus crisis according to a latest report by Swiss bank a report by UBS. The report found that billionaires did ''extremely well'' as a rally in stock prices and gains in technology and healthcare helped the wealth of the world's richest break the $10 trillion mark.

The wealth of the world's billionaires has reached a new high amid the coronavirus crisis according to a latest report by Swiss bank a report by UBS. The report found that billionaires did ''extremely well'' as a rally in stock prices and gains in technology and healthcare helped the wealth of the world's richest break the $10 trillion mark. It covered over 2,000 billionaires representing some 98 per cent of the cohort's total wealth. The report states billionaire wealth grew by more than a quarter during the early months of the pandemic to reach $10.2 trillion in July, breaking the previous record of $8.9 trillion at the end of 2019. Also read: Amid coronavirus pandemic, billionaires get richer as Americans lose jobs According to the UBS and PwC database, 25 years ago billionaire wealth stood at just over $1 trillion, but there has been five- to ten-fold rise over the period of time. Between April 7 and July 31 this year, billionaires across every industry covered by the study saw their wealth rise by double digits, with billionaires in the technology, healthcare and industrial sectors leading the pack with 36 per cent to 44 per cent gains. The pandemic accelerated a trend of technology and healthcare entrepreneurs, and other business innovators, pulling ahead of their ultra-rich peers. From 2018 through July 2020, tech billionaires saw their wealth rise 42.5 per cent to $1.8 trillion, the report found, while billionaires deriving their fortune from healthcare similarly saw their wealth rise 50.3 per cent during the period to $658.6 billion. Just over 200 of those billionaires publicly committed some $7.2 billion to help tackle the COVID-19 pandemic, the study found, noting that billionaire donations to combat the medical crisis as well as the societal and economic turmoil it caused were likely actually higher.

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