Milind G
With the rise of India in the economic front has had a positive impact on the India’s rich. India is 6th on list of most billionaires in the world. India has more number of billionaires than France, Saudi Arabia, Switzerland and Hong Kong, and is home to the sixth largest group of super rich population in the world. Moreover, the country’s financial capital Mumbai with 30 billionaires, is among the top five ‘billionaire cities’ globally.
Indian billionaires though 6th largest group in the rich world, have thrown up an interesting trend found nowhere else in the world – sticking to ones roots. Despite popular notions of billionaires being jet-setting, cosmopolitan individuals, most of the 103 Indian billionaires are still based in the same locations they were raise and moved up in life.
The world Billionaire Census released recently shows that 95% of the Indian billionaires who currently have their primary business in India also grew up there. The global trend is different. Around 23% or just 1 in 4 billionaires globally have same home city of their primary business. Only 39% of all billionaires globally have the same home state of their primary business.
Mumbai is the top 5 of billionaire cities in the world and only entry in the top 10, while New York is the city of choice for the billionaires. The Wealth-X and UBS Billionaire Census 2013 showed that Asia is where the largest number of newly-minted billionaires are based, and since July 2012, there have been 18 new billionaires in Asia with a total wealth of $136 billion. Asia is already the place to be in for business and commerce with rising economy of many developing countries.
However India’s billionaire population has decreased by 5.5% and total billionaire wealth has fallen by$10 billion. Only 3 of Indian billionaires are female.
Also read – Mumbai Buzz on V4News.com
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