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40 Indians Became Billionaires During Pandemic, India Is Now The Third Country With Most Billionaires

On 2nd March, Hurun Report released the Hurun Global Rich List 2021, which revealed astonishing data.

When we were in a lockdown, we saw the economy crumbling, people losing jobs, and even loss of livelihoods, therefore naturally to people might have assumed that this misfortune caused by the global pandemic was mutual to all human lives.

On the contrary, more than a handful of people managed to sore their wealth so much that the number of billionaires globally rose from 414 to a mind-boggling amount of 3,228 billionaires.

Three thousand, two hundred and twenty-eight billionaires!!!

From last year, the total wealth of billionaires increased from $3.5 trillion or 32% to $14.7 trillion. India was no stranger to this phenomenon, in fact, India added billionaires at almost an equal rate as the US. 

India And Asia

Last year, in 2020, the world was adding eight billionaires every week and India was contributing one each week.

India now has 209 billionaires, out of which 177 live in India. Since the year before India saw an increase of 50 people with billion dollars.

During the pandemic, 40 Indians managed to become billionaires. The rise seen in India is one of the top findings in the Hurun report.

The report also saw a global shift in wealth from North America to Asia.“Asia accounts for 51% of the world’s billionaires, and 45% of their wealth, compared with North America with 24% of the billionaires and 33% of the wealth.” stated the report. 

Hurun Report chairman and chief researcher Rupert Hoogewerf said, “Asia has, for the first time in perhaps hundreds of years, more billionaires than the rest of the world combined. Wealth creation is moving to Asia.”

Mukesh Ambani, now the richest man in Asia with a net worth of $82 billion, saw a 24% growth in his income during the pandemic last year.

India, with a rise of 177 billionaires, ranked third in the list of countries with most billionaires, grabbing the place after Greater China and the USA. Countries like Germany, UK, Switzerland, Russia were ranked after India.

China beat the USA by a large margin. 259 Chinese people became billionaires last year, bringing the total to 1058.

“China has added more new faces than the rest of the world combined and pulled away big time from the USA in the past year.

Despite the Trade War with the USA, China added 259 new billionaires, to become the first country in the world to top 1000 ‘known’ dollar billionaires with 1058, more than the combined total of the next three countries of the USA, India, and Germany.

In the last five years, China has added 490 billionaires, compared with 160 in the US,” stated the report.

“34.6%, up from 30.2% last year, of the world’s billionaires are of Chinese origin, significantly higher than the 20% of the world’s population that China has today. Outside of Greater China, the Chinese diaspora is based predominantly in South East Asia, led by Singapore.

China’s billionaires were split into mainland China with 910 (+241), Hong Kong 82 (+12), and Taiwan 57 (+6) billionaires. Mainland China has now added 370 in two years. 9 billionaires living in China are not of Chinese origin.”


Also Read: Ambani V/S Musk: Mukesh Ambani Enters Into Direct Competition With Elon Musk


List Of Top Billionaires In India

The Chairman of Reliance Industries Limited, Mukesh Ambani is the richest person in India and Asia. His world ranking is eighth in Hurun Global Rich List 2021.

Following him is the Gautam Adani & family, their wealth almost double to $32 billion.

Shiv Nada & family come next with a wealth of 27 billion dollars, which was increased by 10 billion from last year and a 66% increase in shares.

NR Narayana Murthy followed by Pankaj Munjal & Family are next on the list.

Cyrus Poonawalla, chairman of the Poonawalla group including the Serum Institute Of India saw a great increase in his wealth and made it to the top 10 list.

Radhakishan Damani, the Hinduja brothers, the Godrej family, and Lakshmi Mittal are also some of the richest people in India.

India for now only has three female billionaires, Savitri Jindal, Kiran Mazumdar, and Leena Tiwari.

The youngest billionaires in India are Apoorva Mehta of Instacart and Nikhil Kamath of Zerodha, both aged 34, with a net worth of $1.7 billion.

Hurun Report chairman and chief researcher Rupert Hoogewerf commented on the report and said: “Despite the disruption caused by Covid-19, this year has seen the biggest wealth increase of the last decade. A stock markets boom, driven partly by quantitative easing, and flurry of new listings have minted eight new dollar billionaires a week for the past year. The world has never seen this much wealth created in just one year, much more than perhaps could have been expected for a year so badly disrupted by Covid-19.”


Image Credits: Google Images

Sources: Hurun.net, Forbes, Times Of India

Find The Blogger: @MNtweeting

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