India’s billionaire landscape has seen significant growth, with the country now boasting the world’s third-highest number of billionaires. The surge in billionaire count, from 169 to 200 in just a year, reflects the buoyancy of India’s stock market and the robust wealth creation within the country. Notably, the combined wealth of India’s richest individuals has soared to nearly $1 trillion, a remarkable increase of 41% from the previous year.
Leading this cohort is Mukesh Ambani, whose net worth skyrocketed to $116 billion, making him the first Asian to enter the exclusive $100 billion club on Forbes’ list. Gautam Adani follows closely, adding $36.8 billion to his fortune, consolidating his position as India’s second-wealthiest person. Despite facing challenges such as allegations of fraud, Adani Group’s rebound has been notable, propelling him back into the ranks of the world’s richest.
However, the United States maintains its dominance in billionaire numbers, with a record 813 billionaires collectively worth $5.7 trillion. China ranks second, with 473 billionaires holding assets valued at $1.7 trillion, though facing setbacks due to weak consumer spending and a real estate downturn.
Globally, the billionaire population has reached an all-time high of 2,781 individuals, with their combined wealth hitting a staggering $14.2 trillion. The top 20 wealthiest individuals alone have contributed significantly to this increase, adding a collective $700 billion to their fortunes since the previous year.
Among the world’s wealthiest individuals, Bernard Arnault leads the pack, followed by Elon Musk and Jeff Bezos. Notably, women represent a growing segment of the billionaire elite, with 369 included on Forbes’ list. Francoise Bettencourt Meyers maintains her position as the world’s richest woman, with a fortune just shy of $100 billion. MacKenzie Scott, who gained her wealth through divorce from Jeff Bezos, is among the top 10 richest women, reflecting the diverse paths to billionaire status.