Newsletter
India’s wealthy are multiplying fast, and it’s no longer just old money calling the shots.
India now has 85,698 High Net-Worth Individuals (HNWIs), making it the 4th largest wealth hub globally, right behind the US, China, and Japan.
HNWIs are those who have at least $1 million to invest, excluding their homes and daily expenses.
Meanwhile, India’s billionaire count jumped 12% last year, reaching 191.
Worth noting: 26 new billionaires out of this were minted in 2024 alone, up from just 7 in 2019.
What’s fueling this: a booming startup ecosystem, growing entrepreneurship, and a strong economy are creating a new generation of wealth. Risk appetite is also rising, particularly in emerging markets, which accelerates the momentum even further.
Big picture: globally, the number of HNWIs grew by 4% in 2024, now crossing 2.3 million people. The UHNWI club, which includes those with over $100 million in assets, also crossed 100,000 for the first time—a sign of rising wealth across the board.
India is firmly securing its place among emerging wealth powerhouses like France, Brazil, and Russia.
