Original title: Future market trends are in the hands of this small group of people
In the past, billionaires were often able to take advantage of their huge investments to make their way in the market. But now that the trend of the times is quietly changing, not all billionaires can shake the market.
The tech industry is a watershed moment in market trends.Since 2018,The total wealth of tech industry billionaires increased by 43.5%.Similarly, with the help of drug discovery, diagnosis, and medical technology innovation,The wealth of healthcare billionaires increased 50.3%.
A report prepared jointly by UBS and PricewaterhouseCoopers stated:
Businesses active in industries that have successfully used technology to transform business models, products, and services are growing dramatically, while the wealth of billionaires chosen on the wrong side of economic, technological, social, and environmental trends is shrinking.
It's a fundamental change in the economic model.Over the past ten years, all billionaires, regardless of industry, have been able to accumulate wealth.Until technology changed the rules of the game.
These billionaires with disruptive ideas are navigating the transformation of the next decade,They are investing in areas related to digital transformation, demographics, and climate change.
Another interesting feature is that the billionaire community is growing. Thanks to disruptive technology, low-cost leverage, and continued policy support from central banks, the number of billionaires increased fivefold in 20 years.
As of July 31, the total wealth of billionaires, including all industries, was 102 trillion US dollars, equivalent to the third largest economy in the world.
As a result, private banks, family banks (which provide a full range of wealth management and family services for ultra-wealthy families), and even ordinary asset management companies want to be favored by this group of people.
But it's not that easy for rich people to pay; they are becoming more and more sensible and strict.This kind of fast-growing rich man doesn't invest blindlyInstead, it is more focused on starting companies, developing research and development, cultivating thought leadership, and philanthropy.
The big five emerging tech giants (Facebook, Amazon, Apple, Microsoft, and Google, FAAMG for short) are now the main political lobbying forces in the US and the EU.
In 2018-2019, FAAMG spent a total of 21 million euros on lobbying in the EU. In the US, they spent $50 million in 2017. This meansThey have the ability to influence legislationThis, in turn, is critical to their future wealth accumulation.
According to Goldman Sachs, tech billionaires account for more than half of the total value of shares held by American households, and their number is only 1% of the total US population.
In turn, most mutual funds concentrated on buying shares in the NASDAQ index, driving the market capitalization of Tesla, Nvidia, Paypal, Amazon, and Netflix to record highs, making tech billionaires even richer.
In summary, we are about to see a concentrated, technology-driven industrial transformation. Business innovators and disruptors will incorporate technology in every industry to gain a competitive advantage.
Venture capital is growing at the fastest rate since 2018 in the technology industry, as well as in the medical and industrial sectors influenced by technology.
Emerging technology will spawn new billionaires. As predicted in the UBS report:
“From artificial intelligence to 3D printing, nanotechnology to biotechnology, scientists and entrepreneurs are just beginning to apply a host of emerging technologies to develop entirely new products and services and surpass existing businesses.”