Indian billionaires' wealth nearly tripled to $905 billion in 10 years: Report
net worth of its billionaires nearly tripling to $905.6 billion in 10 years as of 2024. India now ranks third globally in total billionaire wealth, behind the United States and China, a UBS report highlighted.
Rising sharply from $637.1 billion in 2023, this remarkable 42% growth rate in Indian billionaires’ wealth outpaces the global average and reflects India’s rapid economic transformation, propelled by family-led businesses and structural reforms propelled by the country’s government.
Over the last decade, the number of billionaires in India has grown to 185—a 123% increase, throwing light on the flourishing entrepreneurial spirit in sectors like pharmaceuticals, edtech, and fintech, the UBS report noted.
UBS highlights that family-owned enterprises are central to the surging growth rate in Indian billionaires’ wealth. India boasts one of the highest numbers of publicly listed family-owned businesses, with a significant portion contributing to this burgeoning wealth.
“As India breaks into the top league of economies worldwide, it also has among the highest numbers of publicly listed family-owned businesses, many of them spanning several generations,” said UBS.
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