The richest people in the world are frightened…””Billionaires are taking money of the table where available”

Monday, August 8, 2016
By Paul Martin

Rachel Butt
Aug. 8, 2016

The richest people in the world are spooked.

They’re keeping more cash in their pockets, a sign of fearfulness. Liquidity, or the proportion of their net worth in cash or cash equivalents, is now at 22.2%, according to a report by the research firm Wealth-X.

That means $2.22 out of every $10 in wealth is held in cash — the highest level since 2010.

The report looked at 2,473 billionaires with a combined wealth of $7.7 trillion.

It’s not hard to see why the superrich would want the flexibility that comes with holding large sums in cash. Geopolitical turmoil, terrorism, Brexit, and the US election are adding volatility to global markets amid a grim economic picture.

Here’s Wealth-X:

“Billionaires are taking money of the table where available, while uncertainties in the economy and the historical highs found in deals have resulted in cash-flush portfolios.”

The Rest…HERE

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