Rich Indians Are Increasing Their Wealth At A Stunning Pace, Beat All Nations In Growth!
They are moving away from physical assets like Gold and focussing on financial assets like equity shares, and mutual funds.
A new wealth report has been published by Knight Frank, according to which, Indians are #1 in wealth creation, all over the world.
And the cream of the report is that rich Indians are becoming richer due to their smart investment moves.
The Saga Of Rich Indians
As per Knight Frank’s Wealth Report of 2018, rich Indians have been able exponentially increasing their wealth in the last one year, beating the global average of wealth creation.
As per the report, the major cause of this astronomical surge in new wealth is the smart investment decisions of the rich Indians.
Now, they are moving away from physical assets like Gold and focussing on financial assets like equity shares, and mutual funds.
If we talk about equities, then the rich Indians increased their investment activities by 95%, which was 62% globally.
Similarly, an increasing number of rich Indians are now investing in alternative investments, bonds and even bitcoins.
At the same time, investment in Gold and Real Estate has come down, way below than global average.
Rich Indians Becoming Richer: The Numbers!
Knight Frank’s Wealth Report has categorized the rich Indians into three categories: and all these three categories are beating all records of wealth creation.
The top-most category, called demi-billionaires, are those who have assets of more than $500 million. In India, there are 200 such demi-billionaires, and their tribe grew by 43% in the last 7 years, and they are expected to grow by 70% in the next 5 years.
The second category is ultra-wealthy, which have assets of more than $50 million, and there are right now 2920 such ultra-wealthy individuals in India.
By 2022, as per the report, the number of Indians in this category will increase by 100%.
In Asia, the growth in wealth among this category will be dominated by just three countries: a rise of 104% in China, 84% in the Philippines and 71% in India.
The third category is multi-millionaires, the individuals who have assets of $5 million or more. There are right now 47,720 of them in India, and their tribe grew by 56% in the last 5 years and is expected to cross 73% growth in the next 5 years.
The growth of wealth of all these three categories has been found to be more than the global average.
You can find the report here.