In a recent report it was revealed that, India is home to more number of billionaires than in France, Saudi Arabia, Switzerland and Hong Kong. It has become the sixth largest group of super-rich population in the world.
Mumbai, the financial capital of India, housing 30 billionaires is considered as one among the top 5 ‘billionaire cities’ globally. New York tops the list with 96 billionaires.
Hong Kong, Moscow and London make the other top five with 75, 74 and 67 billionaires respectively.
Though, the number of billionaires in India saw a slight decrease between July 2012 and June 2013, the country still enjoys the wonderful 6th position in the top 10 league with 103 billionaires.
Germany, United Kingdom and Russia make it to the other top five countries with 148, 135 and 108 billionaires respectively.
The wealth-X and UBS billionaire census report 2013 states,” India’s billionaire population has decreased by 5.5 per cent to 103 and the total billionaire wealth has fallen by $10 billion to $180 billion.”
If we consider the global scenario, there are 2,170 billionaires active around the world with a combined net worth of $6.5 trillion. Out of curiosity, this figure is more than the GDP of every country except for United States and China.
The report further noted that industrial conglomerates and pharmaceuticals are the first and second most significant industries for Indian billionaires.
The report also mentioned, “Majority of Indian billionaires are college-educated, with 72 per cent possessing at least a bachelor’s degree.” Switzerland and U.S. are the only other two countries that have a higher proportion of university-educated billionaires.
The average billionaire net worth in India was $1.7 billion and proudly almost 47 per cent of them are self-made. The average age of a billionaire in India is 63 years and most of them are male.
“Only 3 per cent of Indian billionaires are female, the joint lowest representation of any focus country featured in this report,” it said.
Forbes, the U.S. business magazine reported that India has a total of 65 billionaires, led by Mukesh Ambani. He has been able to retain his title as India’s wealthiest for sixth year in a row with a net worth of $21 billion in his account.
Akshay Agarwal
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