The fortunes of Indian billionaires have nearly tripled in 10 years, but the economic challenges China has faced in recent years have taken their toll on the wealthy there. According to a UBS report, the wealth of China's billionaires grew by more than 20% annually between 2015 and 2020, but their wealth has declined by about 5% per year since then.
On the other hand, between 2020-24, the wealth of billionaires in North America increased by 58.5% and the wealth of billionaires in Western Europe by 29%. Most billionaires in the world are emerging from the tech sector. In the last 10 years, his wealth has increased 3 times from 67 thousand crore rupees to 203 lakh crore rupees. Industrial billionaires finished second. The wealth has increased from 45 thousand crore rupees to 110 lakh crore rupees.
However, the report did not mention which of the world's biggest businessmen saw an increase in their wealth.
America: Wealth of billionaires increased by 58%, reached 516 lakh crore rupees In America, the wealth of billionaires has increased by 58.5% to 516 lakh crore rupees in 5 years. While between 2015 and 2020 it increased by 52.7% to around Rs. 322 lakh crore, but between 2020-2024 the number of billionaires was highest in the technology sector.
Europe: Wealth growth slows The situation in Europe was different from that of India, China and America. Between 2015 and 2020, the wealth of Western European billionaires grew by 44% to Rs 178 lakh crore, but between 2020-2024 it grew by only 29% to Rs 228.6 lakh crore. Tech billionaires and businessmen associated with messaging stood at the fore.
China: Wealth of billionaires decreased by 16% to Rs 152 lakh crore in 5 years Between 2015 and 2020, the wealth of China's billionaires has increased by 137% to 178 lakh crore rupees. Since then his wealth has declined by 16% to Rs 152 lakh crore. Meanwhile, the number of billionaires in China remained stable. There were 496 billionaires in 2020. Even in 2024 there are only 501.
Interestingly, in recent years almost as many people have joined China's billionaires list as have remained. In contrast to other countries, nearly one-third of billionaires in China have a net worth of just $1 billion. This means that even a slight decline in China's stock market could force them.
India: Wealth of billionaires tripled to Rs 77 lakh crore in 10 years In 10 years, the number of Indian billionaires has increased by 123% to 185 from 83, but their wealth has increased by 263% to Rs 77 lakh crore. India ranks third in the world in terms of wealth of billionaires. Only America and China are ahead of India.
Effect of 249% jump in Nifty 500 index Family businesses played a major role in the wealth of the rich in India. A Credit Suisse report in 2017 stated that there are 108 family-owned businesses listed on stock exchanges in the country. The Nifty 500 index has risen by 249% since December 1, 2015 and the number of billionaire households has also increased by the same proportion.
Image Credit: (Divya-Bhaskar): Images/graphics belong to (Divya-Bhaskar).
