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Business News/ News / India/  China, US have 53% billionaires, India ranks the third
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China, US have 53% billionaires, India ranks the third

The global ranks of Indians in Hurun Global Rich List is swelling at the fastest pace in India’s modern history, the report cited

The list of Indian billionaires includes Mukesh Ambani, Gautam Adani and family, Cyrus Poonawalla, Shiv Nadar and family, Lakshmi N Mittal, and others. (PTI)Premium
The list of Indian billionaires includes Mukesh Ambani, Gautam Adani and family, Cyrus Poonawalla, Shiv Nadar and family, Lakshmi N Mittal, and others. (PTI)

The Hurun Global Rich List 2023 reveals that China and the United States have the highest number of billionaires, accounting for 53% of the global billionaire population. India ranks third with 187 billionaires, a decrease of 28 from the previous year. Germany has overtaken the United Kingdom to claim the fourth position with 144 billionaires. The report also highlights that Indians are climbing the ranks of the Hurun Global Rich List at the fastest pace in India's modern history, with Gautam Adani and his family gaining more than 437 ranks over the last decade.

The list of Indian billionaires includes Mukesh Ambani, Gautam Adani and family, Cyrus Poonawalla, Shiv Nadar and family, Lakshmi N Mittal, and others. 

Indian Billionaires who added over $1 billion or more

India ranks sixth in the world in terms of the number of billionaires who added $1 billion or more to their wealth over the past year. However, India also tops the list in terms of wealth depletion, with 41 billionaires losing more than a billion dollars year-on-year. In contrast, China and the United States had 178 and 123 billionaires, respectively, who experienced similar losses. These findings present a mixed picture of wealth creation and erosion in India's billionaire community compared to other countries.

New entrants in the Indian billionaire list

The 2023 Hurun Global Rich List added 176 new faces from 18 industries and 99 cities, including 16 new Indian billionaires. India is ranked third on the list, ahead of Italy, which added nine billionaires this year. The richest new entrant from India is Rekha Rakesh Jhunjhunwala and family, who tops the list of top 16 new Indian entrants on the 2023 Hurun Global Rich List. Overall, the report suggests that the number of billionaires is growing, with the United States and China leading the way, while India's billionaire community is experiencing both wealth creation and depletion.

The Hurun Global Rich List 2023 ranked 3,112 billionaires, down from 3,384 last year, from 2,356 companies and 69 countries. The number of billionaires dropped by 8% and their total wealth dropped by 10% compared with last year. 1,078 saw their wealth increase, of which 176 were new faces. 2,479 saw their wealth decrease or stay the same, of which 445 dropped-off. The average age was 66. 

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Published: 22 Mar 2023, 03:15 PM IST
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