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Billionaires’ $6tn in global wealth used to build legacies via cultural capital

Jean-Michel Basquiat's Untitled sold for $110.5 million. Image credit: Sotheby's


After a $300 billion decline to $5.1 trillion in 2015, UBS and PwC report that the total wealth of the world’s billionaires rose 17 percent in 2016 to $6 trillion.