WORLD - Ten Percent Jump in Billionaires Globally

Arno Froese

The number of billionaires worldwide rose above 1,500 last year, a 10 percent jump from 2015, due largely to a surge in Asia, Swiss banking giant UBS and auditors PwC said.

In an annual report, UBS and PwC said that last year marked the first time it recorded more billionaires in Asia (637) than in the United States (563), crediting the rise of China’s entrepreneurs.

The total wealth controlled by the ultra-rich group also shot up to $6 trillion (5.1 trillion euros), marking a 17 percent rise on the previous year when billionaire wealth actually shrank, the report said.

The group of 1,542 billionaires either owns or partly controls companies that employ 27.7 million people, it added.

Three quarters of those who newly became billionaires in 2016 were from China and India, the findings showed.

-www.yahoo.com/news, 26 October 2017

Arno's commentary

Not surprisingly, Asia is leading the world, particularly communist China. Looking at the not-too-distant future, China in particular will be the rich communist helping the poor capitalists. This actually is not a joke, but has already been in the works for the last two decades here in the United States, where communist China buys hundreds of billions in US bonds to cover the debt-ridden nation.

These statistical facts speak a strong language. So, what’s the message to the rich? James 5:1-3: “Go to now, ye rich men, weep and howl for your miseries that shall come upon you. Your riches are corrupted, and your garments are motheaten. Your gold and silver is cankered; and the rust of them shall be a witness against you, and shall eat your flesh as it were fire. Ye have heaped treasure together for the last days.”

Arno Froese is the executive director of Midnight Call Ministries and editor-in-chief of the acclaimed prophetic magazines Midnight Call and News From Israel. He has authored a number of well-received books, and has sponsored many prophecy conferences in the U.S., Canada, and Israel. His extensive travels have contributed to his keen insight into Bible prophecy, as he sees it from an international perspective.

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