Billionaires cash in their equities

Billionaires cash in their equities

The billionaires around the world began to transfer their savings in cash because of fears about the market reaction to the upcoming U.S. elections and the general decline of the economy. According to analysts, fifth of their wealth has been hidden "under the pillow", media reports. Research firm Wealth-X experts studied the wealth of 2473 billionaires with a total estate of $7.7 trillion, 22 percent of which has already been exchanged into cash (2.2 out of every ten dollars). This is the highest figure since 2010. As the newspaper notes, there are several reasons why the moneybags take off all the cash. Among them are the risks associated with geo-political instability (wars, revolutions, coups), aggravated terrorist activity in the world, Brexit impact on the global economy, as well as the upcoming presidential election in the United States that exacerbate the instability of world markets in terms of the general economic downturn of the world economy. Billionaires began to sell their assets even in 2014-2015, according to the article. However, the current global capital withdrawal process through mergers and acquisitions has almost reached its historical maximum. And yet wealthy people are not going to return these funds back to the markets.

 

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