The ultra-rich invest differently -- embracing growth, compounding, and long-term clarity to build wealth with purpose and discipline, explains Ramalingam Kalirajan.
India witnessed a 12 per cent year-on-year (YoY) jump in total household wealth last year, at $14,225 billion, according to the Global Wealth Report 2022 by Credit Suisse. The report also forecasts the number of millionaires in the country to more than double from 796,000 in 2021 to 1.6 million in 2026. According to the report, which is based on data for the wealth holdings of 5.3 billion adults across nearly 200 countries, global household wealth rose 9.8 per cent in 2021 to $463.6 trillion, driven by widespread gains in share prices and a favourable environment created by central bank policies in 2020 to lower interest rates but at the cost of inflationary pressure.
The number of ultra-high net worth individuals (UHNWIs) in India is expected to rise 58.4 per cent in the next five years from 12,069 in 2022 to 19,119 in 2027, a report by property consultancy Knight Frank said on Wednesday. In its "The Wealth Report 2023", Knight Frank said that the number of Indian UHNWIs, with a net worth of $30 million or above, fell 7.5 per cent in 2022 due to economic slowdown, rate hikes, appreciation of the US dollar and geopolitical uncertainties. Globally, the number of UHNWIs fell 3.8 per cent in 2022 compared to 2021.
With 17 universities in the top 20, the United States of America dominates the global alumni rankings.
India is home to as many as 8,200 ultra high net worth (UHNW) individuals whose combined wealth amounts to a whopping $945 billion, says a study.
Despite the slowdown, India's population of rich is growing. The country saw 120 more individuals join the exclusive club.
There are over 5,000 UHNW-founded private foundations.
The Badshah of Bollywood beats some of Hollywood's biggest stars.
The US remains the country with the largest number of ultra-high-net-worth (UHNW) households.
New York City has the world's largest number of billionaires but Asian cities, which include Mumbai, dominate the list of top 20 billionaire places in the world, indicating that the region is at the beginning of a new cycle in wealth creation, says a report.
India jumps to fourth from thirteen in the list of countries having households with more than $100 mn private wealth.
Alibaba founder and executive chairman Jack Ma is this year's biggest financial gainer as the billionaire entrepreneur's fortune has swelled by a whopping $18.5 billion this year to $29.2 billion.
According to the Credit Suisse Global Wealth report, India has 1,800 ultra high net worth individuals -- 11th largest group globally, while the United States tops the chart with 62,800 UHNW adults (equivalent to 49 per cent of the global total).
According to global wealth intelligence and prospecting company Wealth-X, Buffett topped the list of the 10 biggest single charitable donors of 2014.
There is one billionaire for every three million people on the planet.
The wealth of India's middle class has grown by 150 per cent since 2000 to $780 billion.
Wealth-X found that the unborn child of the Duke and Duchess of Cambridge is already a billionaire, given the fortunes of the immediate members of the British royal family, including great grandmother Queen Elizabeth II, great grandfather Princes Philip, grandfather Charles and father William.
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