India's super-rich club sees 10 new entrants in 2020; wealth up 33%

Ramdev, partner see biggest jump in wealth in percentage terms

The recent rally after the lockdown on the bourses has surprised many and also benefited India’s billionaire promoters.

The super-rich club grew to an all-time high of 90 billionaires (in dollar terms) against 80 at the end of December 2019.

Together, these billionaires now have combined wealth of $483 billion (around Rs 35.5 trillion), up 33 per cent in the past 12 months from $364 billion on December 31 last year.

The combined wealth of these billionaire promoters is equivalent to nearly a fifth of the India’s estimated annual gross domestic product (GDP) at current prices when converted into dollars.