Thursday, 11 Sep, 2025
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The top 100 wealthiest billionaires in India saw a dramatic surge in their combined wealth in 2024, increasing by over $300 billion to reach a total of $1.1 trillion. This growth was largely fuelled by a stock market rally that significantly boosted the fortunes of the country’s elite.
India's billionaires collectively hold a wealth of $905.6 billion in 2024, according to the Billionaire Ambitions Report 2024 by UBS. This marks a 123 per cent rise in their numbers and an extraordinary 263 per cent growth in their total wealth over the past decade.
Between 2015 and 2024, global billionaire wealth surged by 121 per cent, rising from $6.3 trillion to $14 trillion, while the number of billionaires grew by 52.6 per cent, from 1,757 to 2,682. Sectorally, technology and industrial billionaires drove this growth, with their wealth tripling and increasing 2.5 times, respectively. In contrast, real estate billionaires saw slowed growth, impacted by the post-pandemic economic landscape.
India’s billionaire surge is driven by the dominance of family-led conglomerates in sectors such as energy, manufacturing, and retail. Notably, 55.7 per cent of Indian billionaires are self-made, a testament to the country’s entrepreneurial vigour. This rise emphasises the country’s evolving business ecosystem, buoyed by reforms and a focus on industrial growth.
While the ascent of billionaires showcases New Delhi’s economic potential, it raises pressing questions about income disparity. Despite the prosperity of the ultra-wealthy, challenges like job scarcity, inflation, and unequal wealth distribution persist, painting a mixed picture of economic progress.
Experts say the billionaire narrative reflects India’s vibrant economic growth but also highlights the critical need for inclusive policies. Policymakers must focus on creating a framework for broad-based wealth creation, ensuring that economic progress uplifts all segments of society rather than being concentrated among a select few.
The billionaire boom shows no signs of slowing, driven by rapid urbanisation, accelerating digitalisation, a robust manufacturing push, and the momentum of the ongoing energy transition. Analysts predict that India could experience a surge in billionaire entrepreneurs over the next decade, echoing China’s trajectory until 2020, when it emerged as a global hub for wealth creation.
While Chinese billionaire wealth has declined by 16 per cent from its 2020 peak, other regions, including the US, Europe, the Middle East, Africa, and key parts of Asia, notably India, have sustained robust growth. India stands out as a key driver in Asia’s billionaire boom, reflecting its dynamic economic trajectory.
With its entrepreneurs driving significant economic growth, India is making an increasingly strong impact on the global stage, positioning itself to become the third-largest economy by 2030. This expansion has elevated New Delhi’s international profile, evident in the growing number of billionaires. The country reached a historic milestone, boasting 271 billionaires, including 84 newcomers, securing its place as the third-largest concentration of billionaires worldwide.
According to Henley & Partners’ 2024 report, Mumbai and Delhi now rank among the top 50 wealthiest cities globally, placing 24th and 37th, respectively. This further highlights the rising presence of affluent individuals in India, signalling its emergence as a major economic powerhouse.
Last year, the combined wealth of India’s 100 billionaires surged by over $300 billion, reaching a total of $1.1 trillion. This remarkable increase was driven by last year’s stock market rally, which significantly boosted the fortunes of the country’s wealthiest individuals.
