Home/ News / India/  World lost 5 billionaires every week past year, says Hurun report | Highlights

Even as the number of billionaires dropped by eight percent globally, India added 16 billionaires and occupied the third spot on the 2023 M3M Hurun Global Rich List among countries which added new billionaires.

According to data by Hurun Global Rich list, there are 3,112 billionaires in the world, down by 8 per cent, i.e., 269 from last year's 3,381 billionaires.

While, China tops the list, followed by USA, and in between them they have 53 per cent billionaires in the world. India ranks third with 187 billionaires, while Germany overtook UK for the fourth position with 144 billionaires.

The total wealth declined by 10 per cent to $13.7 trillion. The report showed that Asia with 57 per cent of world's population, accounted for 59 per cent of new faces and 49 per cent of billionaires and 39 per cent wealth, while USA and Europe with 15 per cent of world's population, had 37 per cent new and 46 per cent billionaires.

The report stated that consumer goods with 9.2% and financial services with 9.1% top two sources of wealth, while healthcare overtook retail for third place.

The Hurun report showed that 31 individuals added $5bn or more, led by 13 from USA, 4 from France and 3 from Russia. Bernard Arnault and Bertrand Puesch were the fastest risers, adding us$80bn between them.

The report noted that 82 are forty or under, of which 56 are self-made, down 30 from last year. 26 inherited. There are 247 self-made women, down 22 from last year. China dominated with 81%. Oklahoma-based ‘roofing queen’ Diane Hendricks, 76, of ABC supply richest self-made woman in world for first time with $17bn, whilst Francoise Bettencourt Meyers, 69, of L'Oréal is the richest woman in the world with us$80bn.

There were 13.7% are immigrant billionaires, up from 13.0%. UsA led with 114 first-generation immigrant billionaires, followed by 57 in the UK and 54 in Switzerland. Elon musk of Tesla, born in South Africa) and Sergey Brin of Google, born in Russia are the richest immigrants. The number of immigrant billionaires has grown 50%, from 9% five year ago.

The list showed that 70% of the billionaires are self-made, while 30% inherited it.

Over the last five years, India’s contribution to the global billionaire population has been steadily increasing. Currently India contributes 8% of the total global billionaire population compared to 4.9% five years ago.

In terms of number of billionaires who have added US$1bn or more over the last year, India occupies sixth rank in 2023 M3M Hurun Global Rich List.

Reliance Industries (RIL) Chairman and Asia's richest man Mukesh Ambani became the only Indian to feature in the list of top 10 billionaires across the world, according to the Hurun Global Rich List released on Wednesday.

Ambani ranked first, followed by Gautam Adani with a net worth of $53 billion among Indian billionaires. Cyrus Poonawalla stood third with a net worth of $28 billion. Shiv Nadar and their family is fourth with $27 billion and Lakshmi Mittal is fifth with $20 billion.

The report also showed that Adani lost $28 billion in wealth, or 3,000 crore a week in 2022-2023 following the explosive Hindenburg Research report in January 2023.

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Updated: 22 Mar 2023, 05:10 PM IST
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