India sees largest rise in super-rich club among BRICS

Notwithstanding the current economic gloom, India has recorded the largest increase in its ultra-high networth individual (HNIW) club among the BRICS nations in last one year, a report by global wealth intelligence company Wealth-X has found. Where the rich reside

Notwithstanding the current economic gloom, India has recorded the largest increase in its ultra-high networth individual (HNIW) club among the BRICS nations in last one year, with a total number of 7,850 super rich people in the country, a report by global wealth intelligence company Wealth-X has found.

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The super-rich’s collective networth adds up to $935 billion.

However, the number of billionaires declined in 2013 (103) against last year (109).

The study focusses on persons with a net worth of $30 million and above.

India also has the highest number of female millionaires in the world — over 1,250 women UHNWs with a combined fortune of $95 billion.

“Despite India’s 1.6% population growth, the country added more UHNW individuals (120) than any other BRICS nations in the past 12 months,” the report said.

BRICS comprises Brazil, Russia, India, China and South Africa.

Globally, the UHNW population reached an all-time high of 1,99,235 individuals with a combined wealth of $27.8 trillion during the past 12 months.