Home >Companies >People >India ranks fifth in number of billionaires

Mumbai: India ranked fifth in the number of billionaires by country with 122 last year, according to the Wealth Report for 2013 released on Friday by property consultant Knight Frank India. The number is expected to rise to 225 billionaires by 2022, it said.

The top four countries are the US, China, Germany and the UK in that order. Brazil is number six.

“The largest concentration of wealth is currently based in the established centres of North America and Europe, but there is set to be rapid growth in Asia, Latin America and the Middle East," Liam Bailey, global head of residential research at Knight Frank, said in a release. “In the next decade we will see the biggest increase in ultra-wealthy individuals in cities such as Sao Paulo, Beijing, and Mumbai."

Mumbai and New Delhi are ranked at seven and 11, respectively, on the the number of high net worth individuals (HNWI) by city. These are people with a net wealth of $30 million and more, said the report. Mumbai has 2,105 HNWIs and Delhi has 1,945. New York and London are first and second.

Subscribe to Mint Newsletters
* Enter a valid email
* Thank you for subscribing to our newsletter.

Click here to read the Mint ePaperMint is now on Telegram. Join Mint channel in your Telegram and stay updated with the latest business news.

Edit Profile
My ReadsRedeem a Gift CardLogout