The number of global millionaires will increase by about 18 million reaching 46 million by 2017, The US will remain on top of the wealth league with $89 trillion by 2017, with 16.9 million millionaires, and Europe with 15.4 million, according to Credit Suisse Global Wealth Report released on Wednesday. China may see its number doubling by 2017, raising the total to almost 2 million. India's millionaires to increase by 53% to 84,000 by 2017. 95% of individuals in India have less than $10,000, whereas this percentage is only 60% in China. Just 0.3% of Indians has a net worth over $100,000. However, due to India's large population, this translates into 2.3 million people. At present, India has 237,000 members of the top 1% of global wealth holders, which equates to a 0.5% share worldwide. There are 1,500 UHNW (ultra high net worth) individuals with wealth over $50 million, and 700 with more than $100 million worth of assets.
Reliance Industries chairman Mukesh Ambani, with a personal fortune of $19.3 billion, is the richest Indian, China-based research firm Hurun said followed by Arcelor-Mittal chief LN Mittal, whose wealth is pegged at $16.9 billion. In terms of personal fortune, Ambani and Mittal are followed by Azim Premji of Wipro ($12.3 billion), Dilip Shanghvi of Sun Pharmaceuticals ($8.5 billion), Pallonji Mistry of Shapoorji Pallonji & Co, the largest shareholder in Tata Group ($7.9 billion), Shashi and Ravi Ruia of Essar Energy ($7.2 billion) and Adi Godrej of Godrej Group ($6.9 billion). Four others who make it to the list of top 10 billionaires are Kushal Pal Singh of DLF ($6.3 billion), Kumara Mangalam Birla of Grasim Industries ($5.8 billion), Shiv Nadar of HCL Technology ($5.7 billion) and Sunil Mittal of Bharti Airtel ($5.7 billion). Savitri Jindal, non-executive chairperson of O.P. Jindal Group, is the richest Indian woman with personal fortune of $5.6 billion, For determining India's 100 wealthiest persons, the report says the minimum cut-off mark for finding a place in the list was $330 million. While the manufacturing sector produced 17 wealthiest Indians, pharmaceutical sector came second with 12, followed by real estate segment that contributed 10 .
In terms of single countries, the US leads by a huge margin with 37,950 UHNW individuals, equivalent to 45% of the group. The recent fortunes created in China have propelled it into second place with 4,700 representatives (5.6% of the global total), followed by Germany (4,000), Japan (3,400), United Kingdom (3,200) and Switzerland (3,050). Numbers in other BRIC countries are also rising fast, with 1,950 members in Russia and 1,500 in Brazil, and strong showings are evident in Taiwan (1,200), Hong Kong (1,100) and Turkey (1,000).
Reliance Industries chairman Mukesh Ambani, with a personal fortune of $19.3 billion, is the richest Indian, China-based research firm Hurun said followed by Arcelor-Mittal chief LN Mittal, whose wealth is pegged at $16.9 billion. In terms of personal fortune, Ambani and Mittal are followed by Azim Premji of Wipro ($12.3 billion), Dilip Shanghvi of Sun Pharmaceuticals ($8.5 billion), Pallonji Mistry of Shapoorji Pallonji & Co, the largest shareholder in Tata Group ($7.9 billion), Shashi and Ravi Ruia of Essar Energy ($7.2 billion) and Adi Godrej of Godrej Group ($6.9 billion). Four others who make it to the list of top 10 billionaires are Kushal Pal Singh of DLF ($6.3 billion), Kumara Mangalam Birla of Grasim Industries ($5.8 billion), Shiv Nadar of HCL Technology ($5.7 billion) and Sunil Mittal of Bharti Airtel ($5.7 billion). Savitri Jindal, non-executive chairperson of O.P. Jindal Group, is the richest Indian woman with personal fortune of $5.6 billion, For determining India's 100 wealthiest persons, the report says the minimum cut-off mark for finding a place in the list was $330 million. While the manufacturing sector produced 17 wealthiest Indians, pharmaceutical sector came second with 12, followed by real estate segment that contributed 10 .
In terms of single countries, the US leads by a huge margin with 37,950 UHNW individuals, equivalent to 45% of the group. The recent fortunes created in China have propelled it into second place with 4,700 representatives (5.6% of the global total), followed by Germany (4,000), Japan (3,400), United Kingdom (3,200) and Switzerland (3,050). Numbers in other BRIC countries are also rising fast, with 1,950 members in Russia and 1,500 in Brazil, and strong showings are evident in Taiwan (1,200), Hong Kong (1,100) and Turkey (1,000).
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