Photographs: Reuters
India is home to the eighth largest group of super rich people in the world, as there are as many as 14,800 multi-millionaires in the country.
Moreover, the country's financial capital Mumbai with 2,700 multi-millionaires, is among the top 25 cities globally for multi-millionaires. Hong Kong is the top city and is home to 15,400 ultra rich people.
Though India enjoys a decent 8th position globally, but Mumbai is the only Indian city in the top 30 cities in the world for multi-millionaires.
According to a report by New World Wealth, there are currently just over 13 million-millionaires in the world (as of June 2014) and around 4,95,000 of these individuals can be classified as multi-millionaires.
For the purposes of this study a millionaire is an individual with net assets of $1 million or more, whilst a multi-millionaire is an individual with net assets of at least $10 million.
Please click NEXT to see the countries with the most multi-millionaires…
Top 10 countries with most multi-millionaires, India ranks 8
Photographs: Reuters
United States
Rank: 1
Multi-millionaires: 183,500
The United States has the largest number of multi-millionaires in the world.
In terms of US dollar millionaires, which was topped by the USA with 41,05,000 millionaires.
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Top 10 countries with most multi-millionaires, India ranks 8
Photographs: Shinewood /Wikimedia Commons
China
Rank: 2
Multi-millionaires: 26,600
In terms of US dollar millionaires, China ranks significantly lower on this list at fifth position with 6,08,500 millionaires.
Over the past decade, millionaire and multi-millionaire numbers globally have seen significant growth.
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Top 10 countries with most multi-millionaires, India ranks 8
Photographs: Reuters
Germany
Rank: 3
Multi-millionaires: 25,400
"Millionaire numbers worldwide have gone up by 58 per cent during this period, whilst multi-millionaire numbers have gone up by 71 per cent," the report said.
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Top 10 countries with most multi-millionaires, India ranks 8
Photographs: J P Lon/Wikimedia Commons
United Kingdom
Rank: 4
Multi-millionaires: 21,700
The higher growth of multi millionaires can be put down to a number of factors including: a widening wealth gap at the top-end, a rising rate of conversion of millionaires into multi-millionaires and strong growth in countries that have a high multi-millionaire to millionaire ratio (like Russia and India), the report said.
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Top 10 countries with most multi-millionaires, India ranks 8
Photographs: Markus Leupold-Lowenthal /Wikimedia Commons
Japan
Rank: 5
Multi-millionaires: 21,000
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Top 10 countries with most multi-millionaires, India ranks 8
Photographs: Ikiwaner /Wimikedia Commons
Switzerland
Rank: 6
Multi-millionaires: 18,300
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Top 10 countries with most multi-millionaires, India ranks 8
Photographs: Reuters
Hong Kong
Rank: 7
Multi-millionaires: 15,400
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Top 10 countries with most multi-millionaires, India ranks 8
Photographs: Reuters
Russia
Rank: 9
Multi-millionaires: 11,700
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Top 10 countries with most multi-millionaires, India ranks 8
Photographs: Reuters
Brazil
Rank:10
Multi-millionaires: 10,300
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