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FX.co ★ World’s billionaires stockpile money in cash

World’s billionaires stockpile money in cash

World’s billionaires stockpile money in cash

According to experts’ estimates, world’s billionaires shifted into stockpiling their income in cash because of concerns over the presidential election in the US and a possible economic downturn.
The Wealth-X report said that 2,473 billionaires are keeping 22% of their total net worth in cash, the highest figure over the past 6 years. Geopolitical risks (wars, government takeovers), terrorist threat around the world, a possible negative impact of Brexit on the global economy, as well as the upcoming presidential election in the United States throw markets around the world into turmoil, leading to massive cashing in.
There is also a surge in the number of liquidity events through corporate acquisitions and mergers. Meanwhile, billionaires in Russia also get rid of risky assets, international lawyer Alexander Zakharov said.
Another expert, Associate Professor of the Russian Presidential Academy of National Economy and Public Administration Yuri Yudenkov notes that the Russians with small income keep their savings at home. However, he believes that this is not the best option as their funds do not work as investment, while money on a bank account could bring revenue.

*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade
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