look news india
Ahmedabad: India is moving at a very fast pace in economic development and global wealth creation. However, the issue of income inequality in India has become a matter of constant discussion. The poor section of the country is becoming more poor and helpless, while on the other hand the wealth of the rich is increasing rapidly. The participation of the rich of the country in the country's economy is increasing.
According to the Fortune India Rich List, the total wealth of India's richest people has exceeded $1 trillion. The total wealth of billionaires has reached $1.19 trillion, or an estimated Rs. 99.86 lakh crore. In this list, 185 people have been given the status of 'dollar billionaires', meaning they have assets worth at least $1 billion.
According to the Fortune India Waterfield Advisors 2024 rankings, the total wealth of India's billionaires has increased by 50 per cent to $832 billion in 2022. The number of dollar billionaires in India in 2022 was 142. 'Despite global economic challenges and a 5 per cent depreciation in the rupee against the dollar, the wealth of Indian billionaires has increased significantly. The total wealth of India's dollar billionaires is now 33.81 per cent of India's nominal gross domestic product (GDP),' the report said.
Reliance Group Chairman Mukesh Ambani tops the list with a net worth of Rs 10.5 lakh crore, Fortune India said. Adani Group Chairman Gautam Adani is at number two. Adani's wealth has almost doubled during this period to Rs 10.4 lakh crore. Apart from Ambani and Adani, the list of top 10 dollar billionaires includes Mistry family, Shiv Nadar, Radhakishan Damani, Sunil Mittal and Azim Premji. The stock market has played an important role in increasing the wealth of dollar billionaires. Benchmark indices have reached record highs from FY 2022-23 to FY 2023-24 and have grown at a compound annual growth rate of 15.94 per cent. The average wealth of billionaires in 2022 was Rs 46,729 crore.
Which has increased to Rs 53,978 crore in the year 2024.