India Has 85,698 Super-Rich, Ranks 4th Globally Behind the US, China, and Japan

India has emerged as the 4th-largest hub for High Net-Worth Individuals (HNWIs) globally, with 85,698 individuals holding investable assets exceeding ₹8.69 crore (US$ 1 million), according to a Global Wealth Report. The country follows the United States, China, and Japan in terms of wealth concentration.

At the ultra-high-net-worth level, individuals with over ₹869 crore (US$ 100 million) in assets have now surpassed 1,00,000 globally for the 1st time, highlighting the expanding influence of the world’s wealthiest segment.

A Surge in Billionaire Growth

India’s billionaire population witnessed a 12% increase in the past year, reaching 191 billionaires. The country added 26 new billionaires in 2024 alone, a significant rise compared to just 7 new entrants in 2019. This surge underscores the country’s economic dynamism and wealth creation potential, particularly in sectors such as technology, startups, and financial services.

The United States continues to lead in HNWIs, holding nearly 40% of the global share, followed by China (20%) and Japan (5%). India’s steady rise places it among key emerging wealth hubs, alongside countries like France, Brazil, and Russia.

Factors Driving India’s Wealth Boom

India’s expanding HNWI population is being fuelled by multiple factors, including:

• Economic Growth: A robust economy fostering wealth creation.
• Entrepreneurial Ecosystem: The rise of startups and digital businesses contributing to financial success.
• Rising Risk Appetite: Increasing investment in equity markets and high-growth sectors.
• Global Market Trends: The influence of low interest rates and strong equity market performance, which have boosted returns on risk assets.

The convergence of these factors has helped India establish itself as a major wealth-generating economy, attracting global interest in its high-net-worth segment.

Conclusion

As India continues on its trajectory of economic and financial expansion, the country’s high-net-worth and ultra-high-net-worth populations are expected to grow further. With a strong foundation in technology-driven businesses and increasing investor participation, India is well-positioned to strengthen its global wealth ranking in the coming years.

While challenges such as inflation, policy changes, and global economic shifts remain, India’s wealth landscape reflects a broader transformation that could see it become an even more significant player in global wealth distribution.

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