When it comes to the number of billionaires by region, Asia now has 951 - outnumbering all other regions. North America has 777 billionaires and Europe, 536.
A region-by-region analysis of assets owned by more than 2 400 people on the Forbes 'Real-Time Billionaires List', by Nikkei Asia, showed $4.7 trillion (R82.80 trillion) in North America, followed by $3.5 trillion in Asia, and $2.4 trillion in Europe.
"By country, the US ranked first with 719 billionaires followed by China with 440. India has 161," the recent report said.
The 10 member states of the Association of Southeast Asian Nations have a total of 114 billionaires, while Taiwan has 45, South Korea 28, and Japan 27.
Emerging countries are now producing more billionaires than Europe and the US managed in the 19th and 20th centuries because of advances in communication technologies and globalisation.
Meanwhile, Asian billionaires are facing some adverse effects such as stock price falls and the dollar's appreciation.
While the number of people in the Forbes' Real-Time Billionaires List dropped by 245 in about six months, Asians accounted for 126 of them, compared with 27 North Americans, said the report.
According to the Forbes Real-Time Billionaires List, Elon Musk is currently the richest man in the world with a net worth of $237.8 billion.
Asia’s richest man Indian businessman Gautam Adani is currently worth $131.2 billion. Adani who was briefly the second richest man in the world now ranks 4th on the billionaires list.
Bernaud Arnault is second on the list with a net worth of $153.8 billion followed by Jeff Bezos who has a net worth of $144.5 billion.
Bill Gates rounds up the top five with a net worth of $105 billion.
IANS