India ranks third globally in billionaires with 185 in 2024. 1st and 2nd are…: Report
India had as many as 185 billionaires in 2024, making its billionaire rely highest on the earth after america (835) and China (427), in response to UBS’ newest Billionaire Ambitions Report.
India added 32 billionaires in the course of the previous 12 months, a leap of round 21%, and greater than double (123%) since 2015, the report discovered. Over the previous yr, the web price of billionaires in India rose 42.1% to $905.6 billion.
The US added 84 billionaires, and in China, the quantity dropped by 93. The mixed wealth of billionaires in America climbed to $5.8 trillion from $4.6 trillion, whereas for China, it fell to $1.4 trillion from $1.8 trillion.
General, between 2015 and 2024, the entire billionaire fortune elevated by 121% globally, from $6.3 trillion to $14 trillion, whereas the variety of billionaires reached 2,682 from 1,757 throughout the identical interval.
India to witness “vital” rise in billionaires: Report
The examine, presently in its tenth yr, estimated that over the subsequent decade, India is poised to witness a “vital” rise in its rely of billionaire entrepreneurs, very like neighbour China did 4 years in the past.
Moreover, the report recognized 108 publicly-listed household companies in India, putting the nation at third on this class as nicely.
It stated, “Household companies have performed a pivotal function in India’s financial transformation. India boasts one of many highest numbers of publicly listed family-owned companies globally, lots of which have thrived throughout generations.”
“From conventional family-backed conglomerates to revolutionary companies in prescription drugs, edtech, fintech, and meals supply, these entrepreneurs have capitalized on rising alternatives within the new economic system,” the survey famous.
