India ranks 3rd globally in billionaires with 185 in 2024. 1st and 2nd are…: Report

India added 32 billionaires during the past 12 months, a jump of around 21%, and more than double (123%) since 2015, the report found. Over the past year, the net worth of billionaires in India rose 42.1% to $905.6 billion.

Also Read: Mukesh Ambani at top spot on Forbes India’s rich list again with $108 billion net worth

The US added 84 billionaires, and in China, the number dropped by 93. The combined wealth of billionaires in America climbed to $5.8 trillion from $4.6 trillion, while for China, it fell to $1.4 trillion from $1.8 trillion.

Overall, between 2015 and 2024, the total billionaire fortune increased by 121% globally, from $6.3 trillion to $14 trillion, while the number of billionaires reached 2,682 from 1,757 during the same period.

India to witness “significant” rise in billionaires: Report

The study, currently in its 10th year, estimated that over the next decade, India is poised to witness a “significant” rise in its count of billionaire entrepreneurs, much like neighbour China did four years ago.

Additionally, the report identified 108 publicly-listed family businesses in India, placing the country at third in this category as well.

Also Read: Meet the better halves of 5 Indian billionaires

It said, “Family businesses have played a pivotal role in India’s economic transformation. India boasts one of the highest numbers of publicly listed family-owned businesses globally, many of which have thrived across generations.”

“From traditional family-backed conglomerates to innovative businesses in pharmaceuticals, edtech, fintech, and food delivery, these entrepreneurs have capitalized on emerging opportunities in the new economy,” the survey noted.

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