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HindustanTimes Fri,19 Dec 2014

World

Average age of India's super rich 63 yrs; China youngest at 53, says report
PTI
New Delhi, November 19, 2013
First Published: 14:52 IST(19/11/2013)
Last Updated: 15:11 IST(19/11/2013)

At 53 years, China's billionaires are the youngest in the world, while the average age of India's super rich people is 63 years, a year older than the global average of 62, says a report.

According to the Wealth-X and UBS Billionaire Census 2013, the average age of China's 157 billionaires is nine years younger than the global average.

In terms of age, billionaires from the United States are the oldest as the average age of the ultra-rich people there is 67 years, followed by Canada and Germany (66 years).

Among others, the average age of billionaires in Hong Kong, Saudi Arabia and Brazil is 64 years, while for India, Switzerland and South Africa it stands at 63 years.

At 57 years, billionaires of United Arab Emirates are the second youngest in the world.

The report, a global study on this ultra wealth tier, noted that nearly 90% of Chinese billionaires made their own fortunes, the highest percentage of self-made billionaires in any country.

Only 5% inherited their wealth, and the remaining 6% inherited and grew their wealth.

In case of India, 47% of billionaires are self made, while 19% inherited their wealth and the rest 34% of people inherited and grew their fortune.

With 157 billionaires, China has the second largest billionaire population after the United States, which is home to 515 billionaires with a combined net worth of more than $2 trillion.

As per the report, India has more number of billionaires than France, Saudi Arabia, Switzerland and Hong Kong and is home to the sixth largest group of super rich population in the world.

China's billionaire population is predominantly male, and the average Chinese billionaire has an average net worth of $2.4 billion, with a liquidity of 10%.

In terms of gender, 97% of billionaires in India are male, while just 3% are female and the average Indian billionaire has an average net worth of $1.7 billion, with a liquidity of 11%.

China's billionaire population grew by 6.8% between July 2012 and June 2013, the period under study for the report, and the combined net worth of China's billionaires rose to $384 billion.

Meanwhile, the number of billionaires in India decreased by 5.5% and the total billionaire wealth has fallen by $10 billion between July 2012 and June 2013.


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