European Billionaires Relegated to Sidelines Amid Wealth Shuffle

(Bloomberg) -- There’s no longer room for a European billionaire among the world’s five richest people.

The Old World’s relegation came Friday after French luxury magnate Bernard Arnault dropped two places to 7th on the Bloomberg Billionaires Index. The only other Europeans listed among the top 25 are Spain’s Amancio Ortega and France’s Francoise Bettencourt Meyers.

It’s the latest indication of how the world’s biggest fortunes are increasingly the preserve of the U.S. and Asia. Americans makes up 40 percent of the list by wealth. Asia has a quarter share followed by Europe with 21 percent. Seven of the 10 richest people on the planet are Americans.

©2018 Bloomberg L.P.