‘Great Polarization’ May Be Next for World’s Rich, UBS Says
- Pandemic could be inflection point for old and new industries
- Philanthropy is growing along with total billionaire wealth
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The huge boost to the fortunes of technology and health-care billionaires during the coronavirus pandemic may be the beginning of a more permanent trend.
The Covid-19 shock could act as a catalyst to spur increased opportunities for those who offer digital or other tech solutions, while the wealth of those in older industries may in turn suffer, UBS Group AG and PricewaterhouseCoopers said Wednesday in a report.