India’s billionaires have a combined net worth of US $ 175 billion, shows a Wealth X and UBS Billionaire Census 2014 report.
With 100 billionaires, India has the sixth largest population of billionaires in the world, narrowly behind Russia which has 114 billionaire having a combined net worth of $ US 365 billion. United States has the highest number of billionaire (571) with a net worth of $ US 2,266 billion followed by China, Germany, UK, and Russia, shows a Wealth X & UBS Billionaire Census 2014 Report.
However,
India’s billionaire population has decreased by 3% and the total billionaire
wealth has fallen by US $5 billion. Indian billionaires have a combined total
wealth of US $175 billion as on June 2014 compared to US$180 dollar in the corresponding
period last year.
Interestingly, Mumbai which is the 11th largest populous city in the world, has 28 billionaires. Surprisingly, out the 28 billionaires, 12 are alumni of University of Mumbai.
The report also shows that Asia saw the second largest number of newly minted billionaires (52) since July 2013. Asia has 560 billionaires having a total wealth of US$1410, a growth of 10% in population and 19% in wealth compared to corresponding period last year. The growth was driven by China with 190 billionaires. China has added 33 new billionaires in a year time.
“Asia is the only emerging market to have experienced strong growth both in terms of the number of its billionaires and its billionaire wealth – and this trend looks set to continue. Not only are Asian billionaires the world’s youngest, at 61, they are also particularly entrepreneurial: only 13% have fully inherited their wealth. The increase in the net worth of Asian billionaires has more than doubled that of North American billionaires. Five of the top ten countries with the highest percentage of self-made billionaires are from Asia,” said the report.
There are 2325 billionaires in the world with a combined net worth of $ US 7291 billion, a growth of 7% in population and 12% in wealth compared to 2013.