Sunday, April 18, 2021

Mumbai the Hub of Billionaires in India, New York the Global Hub

Which country has the maximum number of Billionaires in the World? What is the quantity of Billionaires in India, in comparison to USA and China? The world’s billionaire population and their combined wealth touched record heights in 2017, encouraged by powerful performances across major economies, according to a report by Wealth-X.

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The number of billionaires in the world reached to 2,754 an increase of 15% from the last year. Their total wealth, which incorporates public and private holdings, all liquid assets, real estate and any other luxury assets increased by 24.4% year-over-year to a whopping USD 9.2 Trillion.

The United States (680) continued to dominate the list of billionaires, following by China (338, excluding Hong Kong), Germany (152), India (104) and Switzerland (99). In terms of cities, New York (103) has the maximum number of billionaires in the world, followed by Hong Kong and San Francisco. Indian financial capital city of Mumbai and China’s Shenzen has 39 billionaires each.

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The surge in the number of billionaires and their wealth could also be ascribed to the comparatively stable exchange rates against the U.S. dollar, the report says. A major change in 2017 was that Asia overhauled North America for the first time in eight years in terms of the total number of billionaires. The number of billionaires in Asia increased by 29.2% from 2016 to reach 784, which was 57 more than that in North America. Europe, however, still had the most number of billionaires in the world at 821.
The number of female billionaires grew by 18% to 321, outpacing the growth rate of 14.5% for male billionaires. There was a steadfast rise in the number of female billionaires whose net worth can be likened to family inheritance especially in China and Hong Kong.
World’s Billionaire Population Reached Record High in 2017
ILLUSTRATION: WEALTH-X

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