FROM CNBC:

Billionaire wealth jumped by more than a quarter during the height of the coronavirus crisis, according to new research, with a rally in stock markets helping the wealth of the world’s richest surpass the $10 trillion mark for the first time.

The “Riding the storm” study, published on Wednesday by Swiss bank UBS and accounting firm PwC, found that global billionaire wealth climbed to $10.2 trillion between April and July this year, up from $8 trillion at the start of April.

That reflected an increase in wealth of 27.5% and exceeded the previous peak of $8.9 trillion recorded at the end of 2017. The number of billionaires worldwide also reached a new high of 2,189, compared to the previous record of 2,158 in 2017.

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