Asia now has 332 billionaires, an increase from the previous year’s total of 234, and Europe has around 300.
Not just content with creating homegrown billionaires, Asia is also being credited with establishing some of Europe's billionaires too, due to existing trading links with Russia.
A decade back more than half of the world’s billionaires were American, but this figure has now dropped to a third.
A the moment China has seen the biggest increase in billionaires, 115 compared to the previous 46, a total second only to the United States which has 413. Hong Kong has 36 billionaires, up from 25 last year and India has increased from 49 to 55.
British investors have invested more than £15bn into Chinese companies, with the most popular sectors including financials, technology and consumer staples. Indian investment has reached £11bn thanks to pharmaceutical companies and infrastructure.
Forbes senior editor Luisa Kroll said: "It is much easier to get rich today if you go live in Shanghai. If I were 22 years old and an entrepreneur and maybe could speak Mandarin I'd hightail it there."