Indian billionaires: The rise of the few sparks concern about equality

The super-rich increasingly hold more of the national income; their wealth has grown by 263% to $905.6 bn in a decade

India has 185 billionaires, the third largest such cohort in the world after the United States (US) and China, according to a report released this week.

 

Between 2015 and 2024, the wealth of the world’s billionaires increased by 121 per cent – from $6.3 trillion to roughly $14 trillion, according to the ‘Billionaire Ambitions Report 2024’ released by Union Bank of Switzerland.

 

The number of billionaires worldwide also increased by 52.64 per cent, from 1,757 to 2,682, in this period. Billionaires in the technology and industrial sectors increased their wealth three-fold and 2.5 times, while those in the real estate