Happiness Index of India's Rich Falls by 13%, More than 6 Lakh New Middle Class Households Emerge: Report
3 years, 9 months ago

Happiness Index of India's Rich Falls by 13%, More than 6 Lakh New Middle Class Households Emerge: Report

News 18  

The overall happiness index among India’s high net-worth individuals fell to 7.23 points on 10 as compared to 8.5 points in 2019, a Hurun India Wealth Report 2020 released on Tuesday revealed. The report also revealed that 6,33,000 new middle-class households with an average savings of Rs 20-lakh per annum have emerged in the country. There are 16,933 millionaire households in Mumbai, which contributes about 6.16 per cent to the country’s GDP, with New Delhi in close pursuit with 16,000, followed by 10,000 in Kolkata, according to the report. Globally, the list was led by Elon Musk of Tesla with a fortune of USD 197 billion followed by Amazon’s Jeff Bezos at USD 189 billion and Frenchman Bernard Arnault of fashion house LVMH at USD 114 billion.

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History of this topic

Top 10 Richest Indian States: A Geographical Dive into Economic Power
1 month, 3 weeks ago

Top 10 Richest Indian States: A Geographical Dive into Economic Power

Live Mint  

The Hurun India Rich List 2024 highlights the state-wise distribution of the country’s richest people with the highest net worth. States with notable entries include Haryana, Uttar Pradesh, Rajasthan, Madhya Pradesh, Odisha, Chandigarh, Jharkhand, Uttarakhand, Karnataka, West Bengal, Tamil Nadu, Telangana, Gujarat, Delhi, Maharashtra, and Delhi. Karnataka ranks sixth, with 108 entries, up from 72 in 2020, driven primarily by …

Meet This 21-Yr-Old Billionaire Who Is Youngest On Hurun India Rich List 2024
3 months, 3 weeks ago

Meet This 21-Yr-Old Billionaire Who Is Youngest On Hurun India Rich List 2024

ABP News  

Kaivalya Vohra, a 21-year-old entrepreneur and co-founder of the fast-growing company Zepto, has once again achieved a notable milestone. For the third consecutive year, he has been recognised as the youngest individual to appear on the Hurun India Rich List for 2024. The Hurun India Rich List, now celebrating its 13th year, highlights 1,539 individuals with a net worth exceeding …

Hurun India Rich List 2024: Jayshree Ullal Is Wealthiest Indian Professional Manager
3 months, 3 weeks ago

Hurun India Rich List 2024: Jayshree Ullal Is Wealthiest Indian Professional Manager

ABP News  

Hurun Rich List Indian Billionaires: India has cemented its reputation as the birthplace of some of the world's most successful professional managers, according to the 2024 Hurun India Rich List. India continues to be a fertile ground for professional managers and entrepreneurs, with the 2024 Hurun India Rich List reflecting the country's growing influence on the global stage. Notable Entrants …

Gautam Adani's family wealth shoots up 95% in one year, reaches ₹11.6 lakh crore: Hurun Rich List
3 months, 3 weeks ago

Gautam Adani's family wealth shoots up 95% in one year, reaches ₹11.6 lakh crore: Hurun Rich List

Hindustan Times  

Billionaire Gautam Adani has added ₹5,65,503 crore to his net worth, which means it has shot up 95% to ₹11.6 lakh crore over the last year, according to the 2024 Hurun India Rich List report released on Thursday, August 29, 2024. The Adani family is now, at the top of the rich list with a ₹11,61,800 crore net worth, compared …

'India Minted A New Billionaire Every 5 Days Last Year': 2024 Hurun India Rich List
3 months, 3 weeks ago

'India Minted A New Billionaire Every 5 Days Last Year': 2024 Hurun India Rich List

News 18  

India experienced a 29 per cent jump in the number of billionaires, crossing the 300 mark for the first time to touch a record 334 billionaires, according to the latest 2024 Hurun India Rich List. The number of billionaires in 2024 Hurun India Rich List hits triple century, with all the top 20 sectors adding new faces to the list. …

Number of millionaires leaving India will reduce in 2024: Report
6 months ago

Number of millionaires leaving India will reduce in 2024: Report

Hindustan Times  

India will lose fewer millionaires to migration in 2024, compared with the previous two years, according to The Henley Private Wealth Migration Report 2024. Representational Around 4,300 millionaires are likely to exit the country in 2024 compared with 5,100 in the previous year, according to the report. The UAE is likely to be the largest beneficiary, gaining 6,800 millionaires in …

Indian city named as 'fastest-growing cities in the world for millionaires'. Here's the top 10 list
7 months, 2 weeks ago

Indian city named as 'fastest-growing cities in the world for millionaires'. Here's the top 10 list

Hindustan Times  

Within the ever-changing global economic environment, some cities continue to be powerhouses of success, attracting wealthy investors who want to live within its boundaries due to the ample amount of opportunities provided. Henley and Partners, a residence and citizenship planning leader, recently released a list announcing the World's Wealthiest Top 10 cities and Rising Wealth Hubs. However, Henley and Partners …

Towards a less poor and more equal country
8 months ago

Towards a less poor and more equal country

The Hindu  

In March, World Inequality Lab, a global research centre focused on inequality and public policies, published a working paper titled, ‘Income and Wealth Inequality in India, 1922-2023: The Rise of the Billionaire Raj’. It states that “the ‘Billionaire Raj’ headed by India’s modern bourgeoisie is now more unequal than the British Raj headed by the colonialist forces.” Inequality undermines both …

India’s rich list: Gargantuan numbers reveal the real story
8 months, 2 weeks ago

India’s rich list: Gargantuan numbers reveal the real story

Hindustan Times  

The latest Forbes list has indicated that the number of Indian billionaires is rising and the numbers have been astonishing. Yet another set of numbers have gone and underlined the fast rising rich list in India. The rising class of rich Indians According to the report, the number of high net worth individuals in the country, whose assets have been …

Patralekha Chatterjee | Why isn’t rising inequality turning into a poll issue?
8 months, 3 weeks ago

Patralekha Chatterjee | Why isn’t rising inequality turning into a poll issue?

Deccan Chronicle  

The view from the penthouse and the pavement is staggeringly different. By 2022-23, the top one per cent income and wealth shares are at their highest historical levels; India’s top one per cent income share is among the very highest in the world, higher than even South Africa, Brazil, and the United States, notes the paper, titled “Income and Wealth …

What should India do to become a wealthy nation by 2047?
10 months, 3 weeks ago

What should India do to become a wealthy nation by 2047?

The Hindu  

In the first session of The Hindu Lit Fest 2024, N. Ravi, Chairman of Kasturi and Sons Limited; Jayati Ghosh, Professor of Economics at the University of Massachusetts Amherst; Montek Singh Ahluwalia, former Deputy Chairman of the Planning Commission; Sanjay Kaul, development policy analyst and former IAS officer; and T.N. Along with inclusive growth, you also need the development of …

India to have 100 million affluent citizens by 2027, claims report
11 months, 1 week ago

India to have 100 million affluent citizens by 2027, claims report

Hindustan Times  

India's affluent class is expected to be 100 million by 2027, a report by Goldman Sachs stated on Friday, adding that the indigenous companies selling premium goods will outperform the broad-based rivals. According to the Goldman report, the purchasing power of top earning Indians has increased in the past decade, due to a strong economic growth, stable monetary policy and …

Hurun Rich List 2023: Rekha Rakesh Jhunjhunwala Tops List Among 16 New Indian Billionaires
1 year, 9 months ago

Hurun Rich List 2023: Rekha Rakesh Jhunjhunwala Tops List Among 16 New Indian Billionaires

News 18  

While the number of billionaires fell eight per cent globally, India added 16 billionaires and has been ranked third globally with Rekha Rakesh Jhunjhunwala and family topping the list, according to the 2023 M3M Hurun Global Rich List. According to the 2023 M3M Hurun Global Rich List, 176 new faces were added globally to the list from 18 industries and …

Adani & family top IIFL Wealth Hurun India Rich List
2 years, 3 months ago

Adani & family top IIFL Wealth Hurun India Rich List

The Hindu  

Gautam Adani and family, with an estimated wealth of ₹10,94,400 crore, has topped the IIFL Wealth Hurun India Rich List 2022, which was released on Wednesday. Mukesh Ambani and family has been named as the second richest in India with an estimated wealth of ₹7,94,700 crore, a growth of 11% compared with the 2021 list. While Gautam Adani and family …

Number Theory: How rich are India’s richest – and how poor are the rest?
2 years, 9 months ago

Number Theory: How rich are India’s richest – and how poor are the rest?

Hindustan Times  

The scourge of wealth inequality is a global phenomenon. In a recently released working paper “The sky and the stratosphere: concentrated wealth in India during the lost decade”, we studied the changes in the household wealth distribution between 2012 and 2018. Official data suggests that the Gini coefficient of per adult household wealth in India fell from 0.718 in 2012 …

Number of Indian billionaires rose to 142 in 2021
2 years, 11 months ago

Number of Indian billionaires rose to 142 in 2021

New Indian Express  

NEW DELHI: The number of Indian billionaires grew from 102 to 142, while 84 per cent of households in the country suffered a decline in their income in 2021, which was also a year marked by tremendous loss of life and livelihoods, according to non profit Oxfam India's latest report published on Monday. It indicates that the collective wealth of …

Hurun India Rich List 2021: 3 from Hyderabad feature in 100 richest Indians
3 years, 2 months ago

Hurun India Rich List 2021: 3 from Hyderabad feature in 100 richest Indians

India TV News  

Telangana has the sixth largest number of billionaires in India while Hyderabad ranks fourth, according to Hurun India Rich List 2021. Three from Hyderabad have made it to the list of 100 richest Indians. Murali Divi, a US-trained scientist and founder of Hyderabad-based Divi Laboratories, a drug research firm is the richest Hyderabadi and 14th richest person in the country …

India's Top Richest List 2021: Know How Much Mukesh Ambani, Adani, Shiv Nadar Earn Per Day
3 years, 2 months ago

India's Top Richest List 2021: Know How Much Mukesh Ambani, Adani, Shiv Nadar Earn Per Day

News 18  

Business tycoon Mukesh Ambani is featured at the number one spot in IIFL Wealth Hurun India Rich List 2021 for the 10th time in a row. Mukesh Ambani and the family at spot 1 in the list and the total wealth of the group stands at 7,18,000, the Ambani has earned 164 crores every day. Sixth position was occupied by …

Asset ownership data a stark reminder of inequality
3 years, 3 months ago

Asset ownership data a stark reminder of inequality

New Indian Express  

A National Sample Survey report on ownership of assets has revealed that about 10% of Indians own over 50% of the total assets, with the skew greater in urban areas. This government survey falls more or less in line with reports prepared by NGOs and other agencies, which have stressed that while poverty is declining and growth opportunities have increased, …

Maharashtra Has 56,000 Millionaire Households; Highest in India: Report
3 years, 9 months ago

Maharashtra Has 56,000 Millionaire Households; Highest in India: Report

News 18  

With 56,000 dollar-millionaire households, Maharashtra leads the country in wealth creation followed by Uttar Pradesh, Tamil Nadu, Karnataka and Gujarat, says a report. According to a wealth report by Hurun India, known for its annual rich list, there were 4.12 lakh dollar-millionaire households last year in the country, which has been one of the fastest wealth-creating economies producing the third-most …

Wealth Earned by 100 Richest Indians During Pandemic Can Give 13.8 crore Poorest Rs 94,000 Each: Report
3 years, 10 months ago

Wealth Earned by 100 Richest Indians During Pandemic Can Give 13.8 crore Poorest Rs 94,000 Each: Report

News 18  

India’s 100 top billionaires have seen their fortunes increase by Rs 12,97,822 crore since March last year when the COVID-19 pandemic hit the country and this amount is enough to give 13.8 crore poorest Indians a cheque for Rs 94,045 each. ”India’s 100 billionaires have seen their fortunes increase by Rs 12,97,822 crores since March last year which is enough …

Mukesh Ambani earned ₹90 cr every hour since lockdown, tops Hurun India Rich list 2020 for 9th year
4 years, 2 months ago

Mukesh Ambani earned ₹90 cr every hour since lockdown, tops Hurun India Rich list 2020 for 9th year

Live Mint  

India's richest man Mukesh Ambani, who surged past Silicon Valley tech titan Elon Musk and Alphabet co-founders Sergey Brin and Larry Page to become the world's fourth-richest person, has earned ₹90 crore every hour since the March lockdown this year, according to IIFL Wealth Hurun India Rich List 2020. Mukesh Ambani’s personal wealth rose by ₹2,77,700 crore to ₹6,58,400 crore …

Explained: How a raging pandemic is widening India's wealth gap
4 years, 3 months ago

Explained: How a raging pandemic is widening India's wealth gap

India Today  

Ever since India gained Independence, the country has traversed a wave of ups and downs to finally become a global powerhouse over the last five years. In India, the wealth gap has been rising sharply during the ongoing pandemic as previous levels of income inequality were already high in the country. A January 2020 study by rights group Oxfam India …

India's Richest 1% Seeks to Maintain Wealth Share, While Millions Struggle to Climb Out of Poverty
6 years, 11 months ago

India's Richest 1% Seeks to Maintain Wealth Share, While Millions Struggle to Climb Out of Poverty

The Quint  

The Oxfam survey has released its annual report on wealth distribution, highlighting the stark wealth gap between the 1% and the rest of the population. India's richest 1 percent holds 58% of the country's wealth, with their wealth increasing by over Rs 20.9 lakh crore in 2017. This indicates that the wealth of the richest 1 percent is disproportionately high …

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