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With a total wealth of $935 bn India’s ultra high net worth (UNHW) population grew to 7,850 in 2013 from 7,730 a year ago while their total wealth increased by a mere $10 billion from $925 bn in 2012 to $935 bn in 2013.
Despite the modest 1.6 percent population growth, the country added more UHNW individuals (120) than any other BRICS nations in the past 12 months, but billionaires were the weakest performing wealth tier in the last year losing 5.3% of their wealth.
The UBS Wealth-X report has considered those with a networth of above $30 mn as ultra high networth individuals.
The UBS Wealth-X report has considered those with a networth of above $30 mn as ultra high networth individuals.
The surprise element in the report- Indian women top the UNHW charts. At 16 % or 1250, India has the highest UHNW female proportion of total UHNW population of any of the countries featured in the report with a combined fortune of $95 billion.
What’s more, often at the receiving end of flak for being stingy, the report says Indian UHNW individuals, in the past 3 years have been the most generous donors among all focus countries, donating 10.6% of their net worth on average.
Mumbai and Delhi continue to top the charts in claiming the majority of UNHW residents, with more than 50% of the country’s super rich residing in either of the cities and more than 90% of them concentrated in India’s top 10 cities including Bangalore, Kolkata, Hyderabad, Chennai, Ahmedabad, Pune, Gurgaon and Jaipur.
