Companies run by billionaires performed twice as well as the market average in the last 15 years and it's part of the 'billionaire effect,' new study says
, companies run by billionaires enjoyed returns of 17.8% between 2003 and the end of 2018. That's compared to the MSCI AC World Index's 9.1% return during the same time period. Billionaires' companies were also consistently more profitable and performed better in the six years following an IPO than non-billionaire controlled companies, according to the study.
Self-made billionaires' companies perform even better than those run by the average billionaire, UBS and PwC found. While companies run by billionaires outperformed the market on every continent, the "billionaire effect," as it is called by UBS and PwC, is strongest among US companies. Many billionaires know how to take smart risks, are obsessively focused on their businesses, which allows them to see opportunities others missed, and think longer-term than less wealthy CEOs, the report said.
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