The recent rally after the lockdown on the bourses has surprised many and also benefited India’s billionaire promoters. The super-rich club grew to an all-time high of 90 billionaires (in dollar terms) against 80 at the end of December 2019.
Together, these billionaires now have combined wealth of $483 billion (around Rs 35.5 trillion), up 33 per cent in the past 12 months from $364 billion on December 31 last year. The combined wealth of these billionaire promoters is equivalent to nearly a fifth of the India’s estimated annual gross domestic product (GDP) at ...
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