On Monday, Shares of UBS Group AG (USA)(NYSE:UBS), subtract -0.52% and closed at $13.35 in the last trading session. UBS stock opened its last trade at $13.38 and after floating in a range of $13.28 to $13.40. The company’s Market capitalization is $51.65 Billion with the total Outstanding Shares of 3.71 Billion. During the 52-week trading session the minimum price at which share price traded, registered at $11.93 and reached to max level of $20.70. UBS Group AG and PwC recently presented their joint annual billionaires report, “Are billionaires feeling the pressure?” The report examines wealth creation within the billionaire segment in 2015 and singles out the transfer of $2.1 trillion in billionaire wealth that is expected over the next two decades.
2015 saw a pause as total billionaire wealth fell by $300 billion to $5.1 trillion. Headwinds such as the transfer of assets within families, commodity price deflation and an appreciating US dollar, have influenced the growth of billionaire wealth. Average billionaire wealth dropped from $4.0 billion to $3.7 billion and the US added only five net new billionaires in 2015. In contrast, Asia produced one billionaire every three days, with China alone accounting for over half of the 113 additions.
The findings build on UBS/PwC’s previous billionaire reports, released in May and December 2015. According to the new report, we are about to witness the greatest transfer of wealth in history. About 460 billionaires will transfer $2.1 trillion, the equivalent of India’s GDP, to their heirs over a period of just 20 years. For most of Asia’s young economies, where over 85% of billionaires are first-generation, this will be the first-ever handover of billionaire wealth.
Flex Ltd (NASDAQ:FLEX), jumped 0.73% and closed at $13.81 in the last trading session. FLEX stock opened its last trade at $13.76 and after floating in a range of $13.74 to $13.86. The company’s Market capitalization is $7.59 Billion with the total Outstanding Shares of 546.16 million. During the 52-week trading session the minimum price at which share price traded, registered at $8.85 and reached to max level of $14.29. Flex (FLEX) recently declared that it will hold a conference call to discuss its second quarter fiscal 2017 results on Thursday, October 27, 2016, at 2:00 p.m. Pacific Time (5:00 p.m. Eastern Time).