Billionaires' investment plans in 2026

Billionaires are entering 2026 with confidence, according to a UBS survey, which shows that despite ongoing geopolitical tensions, stagnant inflation in some regions and uneven global growth, the world's richest investors are not retreating to the sidelines.

The survey, taken by visualcapitalist.com, highlights how billionaires expect to adjust their portfolios in 2026, namely which asset classes they plan to increase, maintain or reduce their exposure to.

• Private markets remain the basic bet

Private equity stands out as the preferred asset class of billionaires this year, according to the cited source. Nearly half of billionaires (49%) plan to increase their exposure to direct private equity investments, while another 37% expect to increase their allocations through private equity funds. Private debt is also gaining ground, with a third of respondents planning to increase their exposure to it. Higher interest rates have made private credit more attractive, offering yield opportunities alongside tighter lending conditions in the traditional banking system.

• Equities and hedge funds signal continued risk appetite

Listed equities remain essential to billionaire portfolios. Over 40% plan to increase their exposure to both developed and emerging market equities, while the vast majority expect to at least maintain their current allocations. Very few of those surveyed by UBS plan to reduce their exposure to emerging market equities, suggesting optimism about long-term growth in developing economies.

Hedge funds are another key beneficiary of this risk-on mindset, the source notes. With 43% planning to increase their exposure, billionaires appear to value hedge funds for their flexibility, diversification benefits and ability to navigate volatile or sideways markets.

More defensive asset classes are seeing less dramatic changes. Most billionaires plan to keep their allocations to infrastructure, real estate, gold and fixed income largely unchanged. Cash levels are also expected to remain stable, with just 19% planning to increase their exposure.

Commodities, art and antiques attract the least enthusiasm for increased exposure, the cited source concludes.

• Musk, at the top of the ranking of the world's richest

The Forbes ranking of the richest people in the world in 2026 places Elon Musk, CEO of Tesla, in the first position, with a fortune of 714.2 billion dollars. Musk is the first person in history to exceed the threshold of 700 billion dollars. Since 2020, Musk's fortune has grown at an explosive pace, almost 30 times. Among Musk's largest sources of wealth is his 366 billion dollar stake in SpaceX (a company dedicated to the creation of vehicles for transportation into outer space), which is currently valued at 800 billion dollars. In 2026, its valuation could reach 1.5 trillion dollars in a potential mega-initial public offering (IPO). Google co-founder Larry Page is in second place with a net worth of $257.7 billion. In 2025, shares of Alphabet, the company that owns Google, rose by 63%, significantly increasing Page's wealth.

Third place is held by Jeff Bezos, with $251.4 billion, and in fourth place is Larry Ellison, the founder and head of the technology company Oracle, with $242.6 billion. In places 5-7 we see Sergey Brin, co-founder of Google, with $237.8 billion; Mark Zuckerberg, co-founder and chairman of the Facebook network (Meta), with $226.5 billion; and Bernard Arnault, chairman of the board of directors of the French luxury conglomerate LVMH, and family, with $193.9 billion. Nvidia CEO Jensen Huang is worth $162.5 billion, making him the eighth richest person in the world. Over the past seven years, Nvidia shares have surged more than 4,200%, making Huang the fastest-growing billionaire among the top 20 billionaires.

Berkshire Hathaway CEO Warren Buffett is in ninth place with a net worth of $147.5 billion, while Amancio Ortega, the founder and chairman of Inditex (owner of Zara), is in tenth place with $147 billion.

The combined wealth of the world's top 20 billionaires, at around $3.8 trillion, is greater than the GDP of most countries on Earth.