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.
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