New Delhi: India ranked third globally in billionaire count in 2024, with 185 billionaires, trailing only the US (835) and China (427), according to UBS’ latest Billionaire Ambitions Report.
The country saw the addition of 32 billionaires in the past year, reflecting a 21 per cent increase, and a remarkable 123 per cent growth since 2015. The combined wealth of Indian billionaires surged by 42.1 per cent over the year to $905.6 billion.
While the US gained 84 billionaires, China witnessed a decline of 93. American billionaires’ collective wealth grew from $4.6 trillion to $5.8 trillion, whereas China’s total wealth dropped from $1.8 trillion to $1.4 trillion.
Globally, the billionaire population expanded from 1,757 in 2015 to 2,682 in 2024, with their cumulative wealth rising from $6.3 trillion to $14 trillion — an increase of 121 per cent.
The report said, “From 2015 to 2020, billionaire wealth grew globally at an annual rate of 10 per cent. Since 2020, the global average has stalled at 1 per cent. But that number masks continued expansion in the US, EMEA and parts of Asia, most notably India.”
Of the 2,682 billionaires in 2024, 1,877 were self-made, while 805 came from multigenerational wealth.
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