Inc comes of age
way of looking at the phenomenal increase in wealth over
the past year is to attribute it to the new highs being
reached by the stock markets.
certainly true, but its an explanantion that merely
surface of the deep-rooted changes taking place in wealth
generation in this country.
a little deeper, and the increase in wealth becomes the
result of the coming of age of India Inc, which has led
to the rest of the world sitting up and taking notice of
the globally competitive nature of many Indian companies.
Seen from this point of view, the exponential rise in the
number of billionaires becomes not so much the result of
impersonal market forces but the well-earned rewards of
massive efforts put in by corporate managers and owners
to dramatically alter the profile of Corporate India during
the last few years. This is especially true when we consider
that we now have billionaires in practically every sector.
even deeper, and youll find that the success of Corporate
India has been built on a sea change in attitudes to wealth
among the masses. Unlike in the days of the licence permit
raj, opportunities to become wealthy have mushroomed, and
inherited wealth is no longer the only way to become a billionaire.
In fact, the majority of BS Billioanires are self-made.Moreover,
while owning the business is still the best way to make
it to the billionaire list, salaries for managers and executives,
garnished with stock options, have also shot through the
roof. This issue of BS Billionaire tells you the story of
these people, many of whom earn over a crore a year. To
get an idea of how salaries have zoomed, we also look at
how many earned a crore a few years ago.
the Indian economy becoming part and parcel of the global
economy, its possible not just to aspire but also
translate those desires into wealth.Together with that opportunity
has come a transformation in attitudes to wealth and to
spending. Increasingly, wealth is seen as something hard-working
people deserve. Whats more, it is this change in attitudes
that has feuelled a massive consumtion binge, raking in
profits for businesses. Recognising their contribution,
we bring you a wealth of data on Indias mass
feature on wealthy Indians, in these times of globalisation,
would be complete without taking a look at the Indian diaspora.
With people like Lakshmi Mittal featuring on the global
rich list, Indian billionaires are no minnows.
this review of Indias wealthiest shows that we can
now boast of several dollar billionaires.
billion dollar question, of course, is what on earth do
our billionaires do with their money. We tried answering
that question in our last issue and found, to our horror,
that far from lolling in the lap of luxury, most billionaires
are workaholics. In this issue, we have accordingly got
stylists and fashion designers to do their wardrobes, and
we let you be the judge of the makeover.
the final analysis, as the roll call of BS Billionaires
proves, if you have the aspiration today, you could have
the billions tomorrow.