Billionaires Wealth

India 3rd in highest number of billionaires in '24, wealth up 42%: Report

India ranks third globally with 185 billionaires in 2024, reflecting a 21% increase. The nation's combined wealth surged 42% to $905.6 billion, according to a UBS report

Number of billionaires in China falls to 427 following economic slowdown

The number of billionaires in China fell to 427 in 2024 from last year's 520 following the slowdown in the economy, Switzerland-based multi-investment bank UBS said on Thursday. The total wealth of these billionaires decreased by 20 per cent to about USD 1.4 trillion highlighting the impact of economic slowdown on the world's second largest economy on the once flourishing private sector. Plagued by the crisis in the property sector and turmoil in financial markets, the list of China's rich with assets of USD one billion shrank by 132 while 42 new billionaires were minted and three moved away, the UBS report said. Many of the billionaires we have in China are relatively new in the context of total wealth, said Benjamin Cavalli, head of strategic clients at UBS Global Wealth Management. Compared to other markets, such as the US or Europe, where the total wealth is on an average higher per billionaire, those in China are often hovering near USD one billion, Cavalli said. So, whenever

Wealth of global billionaires surges by 17% due to US gain: Swiss Bank UBS

The UBS Billionaire Ambitions Report for 2024 said the total number of billionaires had risen to 2,682 from 2,544 a year earlier, and their worth to $14 trillion from $12 trillion

Mark Zuckerberg replaces Jeff Bezos as second richest person in the world

Mark Zuckerberg co-founded Facebook (now rebranded as Meta) in 2004. Meta also owns Instagram and WhatsApp, two highly successful communication platforms

Elon Musk to turn trillionaire by 2027, Gautam Adani next in queue: Report

Elon Musk, with a current wealth of $237 billion and a growth rate of 110% annually, could become the world's first trillionaire by 2027, a new report has revealed

Wealth of richest 185 Indians surges past $1 trillion, one woman in top 10

A report by Fortune India-Waterfield Advisors said that the wealth of dollar billionaires in India jumped 50 per cent in just under three years

PM Modi's 'billionaire raj' more unequal than British Raj, says Congress

The Congress on Thursday latched on to a new rich list to attack the Centre, alleging that Prime Minister Narendra Modi's "billionaire raj" is more unequal than even the British Raj and it is also the cornerstone of the government's economic policy-making. Congress general secretary in-charge communications Jairam Ramesh shared on X a media report which cited the Hurun India Rich List to state that India created a new billionaire every five days throughout 2023. "India has had one billionaire for every five days in 2023, and the non-biological Prime Minister's closest friend is the foremost among them all," Ramesh said on X. "Modi's Billionaire Raj is more unequal than even the British Raj. But it is also the cornerstone of the government's economic policy-making," he alleged. This is why, at a time when countries across the world are coalescing around the idea of a global billionaire tax, the Indian government has been conspicuously silent and continues to remain blind to rapidly

India minted a new billionaire every 5 days in 2023: Hurun rich list 2024

For the first time, the Hurun India Rich List has exceeded 1,500 entries, recording individuals with wealth more than Rs 1,000 crore

World's richest lose $134 billion in stock slump, led by Amazon's Bezos

His wealth also derives from space-exploration company Blue Origin and the Washington Post

G20 finance ministers agree to work toward effectively taxing super-rich

Finance ministers from leading rich and developing nations agreed Friday to strive toward effectively taxing the super-rich, a joint ministerial declaration said. With full respect to tax sovereignty, we will seek to engage cooperatively to ensure that ultra-high-net-worth individuals are effectively taxed, the declaration said after the two-day meeting in Rio de Janeiro. Brazil has made a proposal to impose a 2% minimum tax on billionaires a top priority of its presidency of the Group of 20, ahead of the Nov. 18-19 summit in Rio. While the final declaration stops short of agreeing on a specific global tax, Brazilian Finance Minister Fernando Haddad nevertheless called it a significant step forward. We were always optimistic about this result, but it really exceeded our initial expectations, Haddad told reporters. Brazil's proposal to tax billionaires has divided G20 nations. France, Spain and South Africa have expressed support, while the U.S. is against. Tax policy is very diff

G20 agree on Brazil's billionaire tax idea to effectively tax ultra rich

The declaration, which will be published on Friday, was a priority for Brazil, chairing talks of the G20 this year

G20 to back progressive taxation, without endorsing 'billionaire tax'

A broader G20 joint communique is expected on Friday, when finance ministers and central bankers conclude this week's meetings in Rio de Janeiro

Inequality in India: Upper castes hold nearly 90% of billionaire wealth

The recent report from the World Inequality Lab noted that the top 1% of the country's population now commands more than 40 per cent of India's total wealth

Ready to put billions into nuclear power project in Wyoming: Bill Gates

TerraPower LLC, a startup founded by Gates, broke ground for construction of its first commercial reactor last week in Wyoming, where a coal plant is shutting down, he said

Caste and billionaires: What data shows about the country's elite club

World Inequality Lab numbers show the caste composition of India's richest

As Nvidia hits $3 trn, Jensen Huang's wealth surpasses Michael Dell's

Dell, 59, with a net worth of $105.9 billion, has been a computer hardware-industry outlier among the tech super-rich, who often owe their wealth to software companies

Number of ultra rich grows, more worth over $100 bn than ever before

Leading the pack is LVMH founder and Chief Executive Officer Bernard Arnault, 75, with a net worth of $222 billion

Modi made 22 billionaires, INDIA bloc will make crores of 'lakhpati': Rahul

Congress leader Rahul Gandhi on Tuesday criticised Prime Minister Narendra Modi, alleging that he wanted to hand over 'Jal, Jungle, Jameen' belonging to tribals to industrialists. Addressing an electione rally in Jharkhand's Chaibas, Gandhi promised to make crores of people 'lakhpati' if voted to power. Asserting that this Lok Sabha election is for saving the Constitution and the rights of tribals, poor and backward, he said INDIA bloc leaders were ready to sacrifice their lives to save the Constitution. The former Congress president said, "PM wants to handover tribals' 'Jal, Jungle, Jameen' to 14-15 industrialists...he made 22 people billionaires in his 10-year tenure... We will make crores of lakhpatis if voted to power and provide Rs 1 lakh annually to poor women." He also promised to provide one-year apprenticeship to unemployed diploma holders and graduates.

Nepalese billionaire who sold 'Wai Wai' aims to list India unit by 2026

Chaudhary Group launched the Wai Wai noodle four decades ago in Nepal's capital Kathmandu, and has since grown to become India's third largest brand

Zuckerberg's wealth exceeds Elon Musk's for the first time since 2020

Musk's wealth has shrunk by $48.4 billion this year, while Zuckerberg has added $58.9 billion to his fortune as Meta Platforms Inc. climbs to fresh highs, including a new record on Friday