The good news is India is home to 109 billionaires with an average net worth of $1.7 billion each. The bad news, however, is that compared to last year, India has seen the largest fall in super rich population in the world.
Compared to last year, India has 485 fewer super wealthy individuals, followed by China which lost 265 and Japan which lost 210.
The country’s super-rich club — those worth at least $30 million — has 7,730 members with a combined worth of $925 billion. Among them, the largest chunk is of the ultra high-net worth individuals (UHNWIs) who are worth $30 million to $49 million.
They make up 45.7% of the total UHNW population in India with a combined fortune of $125 billion or 13.5% of the total wealth of the India’s ultra affluent.
This is significantly higher than most of its immediate neighbours — Pakistan (310 super-rich), Bangladesh (85) and Sri Lanka (60), or most other Asian countries like Singapore (1,305), Indonesia (785), Thailand (625) and Malaysia (780). Only Japan (12,830) and China (11,245) have more super-rich people than India.
Wealth-X’s “World Ultra Wealth Report” shows the world’s UHNW population grew by 0.6%.
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