Indian billionaires retained 99% of their wealth in 2022 when billionaires around the world have seen a decline of up to 83% in their wealth.- Gautam Adani added the most to his wealth in the world, while Mukesh Ambani was a close third.
- Overall, billionaires around the world lost over a trillion dollars in wealth in 2022 so far.
- Switzerland was the only country in the list with a net gain of $12 billion.
According to numbers crunched by Business Insider and data from Bloomberg Billionaires Index, Indian billionaires held on to 99% of their wealth in 2022 so far — and lost a mere $5 billion. In fact, they come next only to Switzerland in terms of retaining their wealth.
India is home to 166 billionaires while only 18 of them are in the top 500 billionaires list. $4 and $4 – rank the highest and are in the august company of the world’s richest men.
The US and China contributed to 60% of wealth erosion in these months, losing $426 billion and $185 billion respectively.
Russian billionaires, hit by sanctions due to the Russia-Ukraine war, also lost a significant amount of wealth, totaling to nearly $50 billion.
Out of countries with at least 10 billionaires, India was second only to Switzerland, whose billionaires actually added to their wealth. According to data, while Indian billionaires retained $410 billion out of $415 billion at the start of 2022, Swiss billionaires added $12 billion to their kitty.
India would have been the top performer if not for Gautam Adani, whose wealth reduced from nearly $129 billion to a little over $100 billion.
Out of the top 500 billionaires of the world, Gautam Adani added the most amount of wealth, followed by Switzerland’s Guillaume Pousaz. Mukesh Ambani was a close third.
Canadian billionaire Changpeng Zhao lost a whopping $80 billion in 2022, which is more than the total billionaire wealth of most other countries. Zhao is the co-founder of Binance, the world’s largest cryptocurrency exchange.
The meltdown in US stocks caused Mark Zuckerberg, Elon Musk and Jeff Bezos to lose $138 billion between the three of them.
In terms of total wealth of billionaires, India rose the ranks to come in at the third place, leaving France behind by a comfortable margin. The only two countries ahead of India are the US and China, who have maintained their first and second positions despite a massive decline in wealth.
The US’ lead is so massive that its billionaires account for $43 billion out of every $100 billion wealth. In contrast, Chinese and Indian billionaires account for only $12 billion and $6 billion, respectively.
Despite having the third highest billionaire wealth in the world, India has only the fifth most number of billionaires in the world.
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