India emerges as third nation in billionaires with 185 persons, 1st rank is secured by...

India’s billionaire landscape has experienced a remarkable transformation over the past year, with their collective wealth soaring by 42.1% to a staggering $905.6 billion, as per UBS' latest Billionaire Ambitions Report. The country is now home to 185 billionaires, ranking third globally after the United States, which boasts 835 billionaires, and China, with 427.

The report highlights that India added 32 billionaires in the last year alone, marking a 21% growth—a dramatic leap of 123% compared to 2015. Among the nation's wealthiest are Reliance Industries’ Mukesh Ambani and Gautam Adani.

Meanwhile, the United States gained 84 billionaires during the same period, and China's count fell by 93. Wealth distribution trends reveal the combined net worth of U.S. billionaires surged from $4.6 trillion to $5.8 trillion, whereas China saw a dip from $1.8 trillion to $1.4 trillion. On a global scale, billionaire fortunes have more than doubled since 2015, increasing 121% to reach $14 trillion in 2024, while the global billionaire count rose from 1,757 to 2,682.

The report anticipates a significant uptick in India’s billionaire entrepreneurs over the next ten years, mirroring China’s rapid growth from a few years ago. Additionally, India stands out for its family-owned businesses, with 108 publicly listed ones—placing it third globally in this category.

The study underscores the influence of family enterprises on India's economic progress, stating:"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-driven conglomerates to innovative ventures in sectors like edtech, fintech, and food delivery, these businesses are seizing opportunities in the evolving economy.