Billionaires sitting on growing piles of cash

Over 2,300 billionaires worldwide, worth $7.3 trillion total, are sequestering record amounts of cash – each holding $600 million on average, or 19 percent of their net worth, says a new report by the Wealth X and UBS. The amount represents an increase of $60 million in cash per billionaire from a year ago, and wealth followers say it’s a sign that the ultra-wealthy are nervous about putting more money in today’s markets.

“This increased liquidity signals that many billionaires are keeping their money on the sidelines and waiting for the optimal moment to make further investments,” the study said.

Wealth managers are often asked by these families what they should do with the cash .... http://rt.com/business