Adani ranks second after Tesla CEO, Elon Musk who has net worth of Rs 12.37 lakh crore…reports Asian Lite News
When it comes to the number of billionaires by region, Asia now has 951 outnumbering all other regions. North America has 777 billionaires and Europe, 536.
A region-by-region analysis of assets owned by more than 2,400 people on the Forbes ‘Real-Time Billionaires List’, by Nikkie Asia, showed $4.7 trillion in North America, followed by $3.5 trillion in Asia, and $2.4 trillion in Europe.
“By country, the US ranked first with 719 billionaires followed by China with 440. India has 161,” the report said on Tuesday.
The 10 member states of the Association of Southeast Asian Nations have a total of 114 billionaires, while Taiwan has 45, South Korea 28, and Japan 27.
Emerging countries are now producing more billionaires than Europe and the US managed in the 19th and 20th centuries because of advances in communication technologies and globalisation.
Meanwhile, Asian billionaires are facing some adverse effects such as stock price falls and the dollar’s appreciation.
While the number of people in the Forbes’ Real-Time Billionaires List dropped by 245 in about six months, Asians accounted for 126 of them, compared with 27 North Americans, said the report.
In India, world’s second richest person, 60-year-old Gautam Adani, leads the country’s rich list with wealth of Rs 10,94,400 crore, as per the IIFL Wealth Hurun India Rich List 2022.
Adani ranks second after Tesla CEO, Elon Musk who has net worth of Rs 12.37 lakh crore.
Adani topped the list by adding Rs 1,600 crore per day over the last year.
Adani’s wealth has more than doubled (116 per cent) in the last one year and in absolute terms, he added Rs 5,88,500 crore. In the last five years, the first-generation entrepreneur’s wealth has increased by 1440 per cent.
India’s Rs 1,000 Cr rich club grows
Regardless of Covid pandemic, inflation or the Ukraine War, India’s richest grew by 96 persons to 1,103 spread over 122 cities and have Rs 1,000 crore or more as per the IIFL Wealth Hurun India Rich List 2022.
The youngest on the list is Kaivalya Vohra aged 19, who founded Zepto which shows the impact of the startup revolution.
The latest rich list includes several promoters of startups, including those floated by women.
“Cumulative wealth has increased by 9.4 per cent, while average wealth has decreased by 1 per cent. 602 individuals saw their wealth increase or stay the same, of which 149 are new faces, whilst 415 saw their wealth drop and there were 50 dropouts,” as per a statement issued by IIFL Wealth and Hurun India.
According to the report, India has 221 billionaires, down 16 compared to last year.
While Chemicals and Financial Services added the greatest number of new entrants to the list, Pharma is still at number one and has contributed 126 entrants to the list.
“Despite the slump in economy owing to geo-political challenges, volatility in global financial markets, and sharp spike in oil prices, India has successfully made an impression on the world’s economy/wealth map,” said Yatin Shah, Co-Founder & Joint CEO, IIFL Wealth.
He said pharmaceuticals, chemical & petrochemicals, IT, and financial services amongst others are some of the key sectors substantially contributing to wealth creation.
“There are 65 founders of 37 unicorns along with 14 professional managers who have emerged as the cornerstone of wealth creation this time in the list,” Shah said.
“Gurugram debuted in the top 10 cities producing most number of entrants and we have a record addition of 149 new faces to the list from 32 industries and 36 cities,” said Anirudha Taparia, Joint CEO, IIFL Wealth.
“The trends in IIFL Wealth Hurun India Rich List 2022 prove that India has taken booster shots against the global crisis. Be it Ukraine War or inflationary pressures, the Indian growth story continues against all odds as 149 individuals entered the IIFL Wealth Hurun India Rich list of 1,103 who cumulatively have a wealth of INR 100 lakh crore. India also gave a new number two, Gautam Adani, to the Hurun Global Rich List,” commented Anas Rahman Junaid, MD and Chief Researcher, Hurun India.
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