Indian Billionaires kept 99% of their wealth in 2022, when billionaires around the world saw their wealth drop to 83%.- Gautam Adani added the most to his wealth in the world while Mukesh Ambani was a close third.
- In total, billionaires around the world have lost more than a trillion dollars in wealth so far in 2022.
- Switzerland was the only country in the list with a net profit of $12 billion.
The Indian economy has been going through the same pains as the rest of the world: high inflation, rising interest rates and a questionable recovery. Yet the country’s billionaires don’t seem to be affected by it. In 2022, they even got away with minimal capital loss, while the rest of the world lost more than a trillion dollars.
According to figures from http://gotechbusiness.com/ and data from Bloomberg Billionaires Index, Indian billionaires have kept 99% of their wealth in 2022 so far – losing just $5 billion. In fact, they only come after Switzerland when it comes to preserving their wealth.
India is home to 166 billionaires while only 18 of them are in the top 500 billionaires. Mukesh Ambani and Gautam Adani – rank the highest and are in the exalted company of the world’s richest men.
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US and Chinese billionaires lost $6 billion of every $10 billion
The US and China contributed to 60% of the wealth erosion in these months, losing $426 billion and $185 billion, respectively.
Russian billionaires, hit by sanctions as a result of the war between Russia and Ukraine, also lost a significant amount of wealth, totaling nearly $50 billion.
Of the countries with at least 10 billionaires, India was second only to Switzerland, whose billionaires have actually added to their wealth. According to data, while Indian billionaires kept $410 billion out of $415 billion in early 2022, Swiss billionaires added $12 billion to their pussy.
India would have been the top performer were it not for Gautam Adani, whose wealth fell from nearly $129 billion to just over $100 billion.
Gautam Adani has added the most wealth in the world
Of the top 500 billionaires in the world, Gautam Adani added the most wealth, followed by Guillaume Pousaz of Switzerland. Mukesh Ambani was a close third.
Canadian billionaire Changpeng Zhao lost a staggering $80 billion in 2022, which is more than the total wealth of the billionaires of most other countries. Zhao is the co-founder of Binance, the world’s largest cryptocurrency exchange.
The collapse of US stocks caused Mark Zuckerberg, Elon Musk and Jeff Bezos to lose a combined $138 billion.
India behind only the US and China in terms of billionaire wealth
In terms of total wealth of billionaires, India rose to third place, leaving France by a comfortable margin. The only two countries ahead of India are the US and China, which have maintained their first and second position despite a huge decline in wealth.
The US’s lead is so vast that its billionaires account for $43 billion of every $100 billion of wealth. In contrast, Chinese and Indian billionaires account for just $12 billion and $6 billion, respectively.
India has the fifth largest number of billionaires in the world
Despite having the third highest billionaires in the world, India only has the fifth highest number of billionaires in the world.
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