The number of India's rich and super-rich individuals is about to double this year, to over 400,000 with a collective wealth of $2,645 billion. And the number of super-rich households, with a minimum net worth of Rs 250 million each, would more than triple to 500,000 in the next five years with a five-fold increase in their net worth to Rs 260 trillion.
These projections have been made by industry association Assocham and Yes Bank's study of luxury market in India. The top five Indian billionaires led by Reliance Industries chairman Mukesh Ambani collectively control $90.5 billion in personal wealth, accounting for nearly half of the country's total billionaire wealth, an earlier study said.
According to Forbes magazine, Mukesh Ambani is the richest man in the country with an estimated net worth of $24.4 billion.
Mukesh Ambani is followed by drugmaker Sun Pharma's Dilip Shanghvi $ 18 bn, IT giant Wipro's Azim Premji $ 16.4 bn, Tata Sons' shareholder Pallonji Shapoorji Mistry $ 15.9 bn, and steel tycoon Lakshmi Mittal $ 15.8 bn.
The five billionaires collectively control $90.5 billion in personal wealth, accounting for nearly 48 per cent of India's total billionaire wealth, according to reports.
In comparison, India's wealthiest actor, Bollywood star Shah Rukh Khan is worth $600 million, while Indian cricket legend Sachin Tendulkar has a fortune of $160 million.
