Indian billionaires have added nearly 360 billion dollars to their cumulative wealth in the past five years
While the number of billionaires fell eight per cent globally, India added 16 billionaires and has been ranked third globally with Rekha Rakesh Jhunjhunwala and family topping the list, according to the 2023 M3M Hurun Global Rich List.
After the death of Rakesh Jhujhunwala, termed as ‘India’s Warren Buffett’, Rekha Jhunjhunwala inherited his stock portfolio.
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According to the 2023 M3M Hurun Global Rich List, 176 new faces were added globally to the list from 18 industries and 99 cities across the world.
Indian billionaires have added nearly 360 billion dollars to their cumulative wealth in the past five years. The 360 billion dollar figure is equivalent to Hong Kong’s GDP, according to the list.
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Globally, the total number of billionaires fell from 3,384 last year in 2o22 to 3,112 billionaires in 2023. These billionaires are from 69 countries and own 2,356 companies cumulatively.
According to the M3M Hurun Global Rich List, the proportion of immigrant billionaires has halved in the past five years — from 23 per cent in 2018 to 14 per cent in 2023.
