601 NEW RUPEE BILLIONAIRES
India added a whopping 601 new billionaires since 2014, with Reliance Industries Ltd Chairman Mukesh Ambani topping the ‘Barclays Hurun India Rich List-2018’ for the seventh consecutive year with an estimated wealth of Rs 371,000 crore...
As per the report, in 2014, there were 230 billionaires or multi-billionaires, which shot up to 831 in the 2018 in the BHI Rich List. Earlier, in 2012, the figure was a modest 59 billionaires, which climbed to 141 in 2013. But after notching 230 billionaires in 2014, the list has grown phenomenally with 296 (2015), 339 (2016), 617 (2017) and now 831 billionaires in 2018. Similarly, the number of USD billionaires in India in the past seven years at the prevailing exchange rates has shot up from 59 (2012) to 141 (2018) as the USD’s value grew from INR 55.60 to INR 68.40 during the period.
Among women, there was only one self-made billionaire in 2013, which increased to 11 in 2018. Women multi-billionaires shot up from just five in 2013 to 136 this year. The cumulative wealth of these 831 individuals featured in the latest list stands at USD 719 billion, or one-quarter of the Indian GDP of USD 2,848 billion as per the IMF’s April 2018 estimates. After Ambani, next comes S.P. Hinduja and family of Hinduja Group with estimated wealth of Rs 159,000 crore, Arcelor-Mittal’s L.N. Mittal and family at Rs 114,500 crore in the top bracket.