This infographic, via Visual Capitalist's Bruno Venditti, highlights the factors most likely to negatively impact the global market environment over the next 12 months, based on responses from billionaires across regions. Close behind, 63% of billionaires point to major geopolitical conflict as a key risk, underscoring fears around wars, regional instability, and great-power rivalry. Meanwhile, 44% of billionaires remain worried about higher inflation, indicating that price stability is still not taken for granted after years of elevated inflation across major economies. In Asia-Pacific, 75% of billionaires cite tariffs as their biggest concern, reflecting the region’s deep integration into global supply chains and export-driven growth models. Meanwhile in the Americas, 70% of respondents are most worried about higher inflation or major geopolitical conflict.