Roshni Nadar, chief executive officer for HCL Corp., an IT outsourcer, will inherit a lot of money from her billionaire father Shiv Nadar. That is, if she doesn't become a billionaire on her own before that. (Photo by Dhiraj Singh/Bloomberg)
India's Economy: Creating 'One Billionaire Per Month' Since 2010
Kenneth Rapoza , CONTRIBUTOR
Source: Forbes
Anyone who has been to India has seen the poverty. Mumbai is home to one of the largest slums in the world. India's per capita income is the lowest of the big four emerging markets, thanks in part to its 1.2 billion inhabitants. China has about 150,000 more people, and it's median income is around five times that of India's.
It's often hard to believe how far India has gone. For a democratic society that has elections and political ideologues to deal with (unlike China), it's done well for itself. India has been churning out billionaires by the month. The last year saw India's old and new one-percents grow in ranks thanks to their stock equity gains and entrepreneurship in new tech-driven businesses that are catering to a growing working and middle class India. The number of Indians on the Forbes billionaire list rose to 101 from 84 last year, and while some family wealth is seen shrinking as it gets passed on two an average of two siblings per family, new money is coming up the ranks quickly.
"It's record number historically (and) it means every 33 days brought a new Indian billionaire to the list last year," says Fakhri Ahmadov, managing director at Ahmadoff & Company, a U.K. based wealth advisory firm. "We have always imagined Indian private capital to be in the hands of ‘old wealth’ rather than self-made entrepreneurs, however our research explains that self-made entrepreneurs, but self made account for around 65% of the wealth of billionaires and it has been stabilized at this ratio since 2010," he says.
Reducing poverty also introduces new opportunities for entrepreneurs who both understand basic needs of society and can execute on the business side of things, often in any given economic situation. Healthcare and pharmaceuticals have added 10 business founders to the FORBES billionaires list in the last seven years, more than any industry in India. Retail added another seven billionaires during that period, Ahmadov said in a report dated April 8.
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Top 10 Countries With The Highest Number Of Billionaires
https://www.youtube.com/watch?v=cV2z4guze2Y
Alux.com
Published on Jul 26, 2016
Alux.com ranked the 10 countries with the most billionaires on Earth! Here's the video we put together using that data!
If you want to go over through the entire article here's the link: http://www.alux.com/countries-highest...
In this video we dive deep and highlight the top 10 countries with the highest number of billionaires around the world.
In addition to just the raw numbers and luxury insights, we break down how well each country is doing on the global economic scale + we look at how the richest person in each country made his fortune.
