Latest news with #CapgeminiResearchInstitute
News18
2 days ago
- Business
- News18
Financial Expert Cites Data On India Creating ‘More Billionaires'. Here's Why Netizens Are Worried
Last Updated: Reacting to the post, a user noted that India appears to be skipping the middle-class wealth-building phase, unlike most developed economies. India is rapidly evolving, especially in the world of business. With a surge in entrepreneurship, more people are starting their own ventures and building wealth. Recently, Akshat Shrivastava, YouTuber and founder of Wisdom Hatch, shared some compelling insights on India's growing economic landscape. According to him, while India still has fewer billionaires and millionaires compared to global giants like the US and China, the pace at which new billionaires are emerging paints a promising picture. It reflects the expanding business opportunities and the dynamic nature of India's startup and investment ecosystem. 'India has roughly 250 billionaires, just half that of China (which has roughly 520 billionaires). But, the data is very interesting for millionaires (in USD): The US has 22 million millionaires (25X that of India), China has 6 million millionaires (7X that of India), India has 850K millionaires," Akshat wrote on X (formerly Twitter). He pointed out that billionaires are being created faster than millionaires in India. 'One could become a millionaire from a job. But, it is unlikely that one would become a billionaire from a job. India is a land of business opportunities, not necessarily job opportunities," he wrote. Take a look at his post here: Akshat's post quickly gained traction online, sparking a flurry of reactions from social media users. A user commented, 'India is a land of big opportunities. People are mostly focused on jobs that too low-paying. Start-ups and many a businesses get started to take Govt subsidies and cheap loans that seldom get repaid. For others, long-term vision, no handwork, no research and ultimately they fail." Another said, 'Fair, but India is still early in its wealth cycle. A decade ago, we had around 200K millionaires, today it's 850K. Much of the new wealth is tied up in unlisted startups, family businesses, and real estate, which global data often misses. Also, it doesn't make sense to compare India with the US or China, very different timelines, markets, and maturity levels." 'It probably has a lot to do with the growing startup culture, with companies becoming unicorns quickly — and also failing just as fast," a person shared. An individual said, 'India doesn't lack ambition. It lacks systems that scale ambition. Until startups > Sarkari (government) jobs in mindset and money, this gap will stay." Another comment read, 'That's a telling stat, India's billionaire boom is outpacing its millionaire growth, and that says a lot about the nature of wealth creation here. Jobs might get you comfort, but businesses are what bend the curve." The World Wealth Report 2025 by Capgemini Research Institute noted that India added over 33,000 new millionaires in just one year. The number of High-Net-Worth Individuals (HNWIs) in India grew by 5.6 per cent, reaching 378,810, which is up from around 345,000 in 2023. First Published: June 06, 2025, 15:12 IST
News18
2 days ago
- Business
- News18
Financial Expert Calls India A Land Of Business Opportunities
Last Updated: Akshat Shrivastava shared some interesting facts about how wealth is growing in India compared to other countries. India is rapidly evolving, especially in the world of business. With a surge in entrepreneurship, more people are starting their own ventures and building wealth. Recently, Akshat Shrivastava, YouTuber and founder of Wisdom Hatch, shared some compelling insights on India's growing economic landscape. According to him, while India still has fewer billionaires and millionaires compared to global giants like the US and China, the pace at which new billionaires are emerging paints a promising picture. It reflects the expanding business opportunities and the dynamic nature of India's startup and investment ecosystem. 'India has roughly 250 billionaires, just half that of China (which has roughly 520 billionaires). But, the data is very interesting for millionaires (in USD): The US has 22 million millionaires (25X that of India), China has 6 million millionaires (7X that of India), India has 850K millionaires," Akshat wrote on X (formerly Twitter). He pointed out that billionaires are being created faster than millionaires in India. 'One could become a millionaire from a job. But, it is unlikely that one would become a billionaire from a job. India is a land of business opportunities, not necessarily job opportunities," he wrote. Take a look at his post here: A user commented, 'India is a land of big opportunities. People are mostly focused on jobs that too low-paying. Start-ups and many a businesses get started to take Govt subsidies and cheap loans that seldom get repaid. For others, long-term vision, no handwork, no research and ultimately they fail." Another said, 'Fair, but India is still early in its wealth cycle. A decade ago, we had around 200K millionaires, today it's 850K. Much of the new wealth is tied up in unlisted startups, family businesses, and real estate, which global data often misses. Also, it doesn't make sense to compare India with the US or China, very different timelines, markets, and maturity levels." 'It probably has a lot to do with the growing startup culture, with companies becoming unicorns quickly — and also failing just as fast," a person shared. An individual said, 'India doesn't lack ambition. It lacks systems that scale ambition. Until startups > Sarkari (government) jobs in mindset and money, this gap will stay." Another comment read, 'That's a telling stat, India's billionaire boom is outpacing its millionaire growth, and that says a lot about the nature of wealth creation here. Jobs might get you comfort, but businesses are what bend the curve." The World Wealth Report 2025 by Capgemini Research Institute noted that India added over 33,000 new millionaires in just one year. The number of High-Net-Worth Individuals (HNWIs) in India grew by 5.6 per cent, reaching 378,810, which is up from around 345,000 in 2023. First Published:
Yahoo
3 days ago
- Business
- Yahoo
The U.S. minted more than 560,000 new millionaires in 2024, far outpacing other countries
Last year was a banner year for the rich—at least for those based in the U.S. Thanks to a favorable interest rate environment and booming domestic stock market, the population of high-net-worth, or HNW, individuals grew significantly in North America in 2024, while the same population fell across Europe, Latin America, and the Middle East. That's according to the Capgemini Research Institute's World Wealth Report 2025, published Wednesday. The global population of HNW individuals—those with at least $1 million in investable assets outside of their primary residences—rose by 2.6% last year, while the number of ultra-high-net-worth, UHNW, individuals—those with at least $30 million liquid—grew by 6.2%. In the U.S., the HNW population rose almost triple that amount, by 7.6%, and 562,000 new millionaires were minted in 2024. The surge is thanks largely to 2024's strong stock market returns, which was powered in particular by optimism over artificial intelligence stocks, according to the report. Asian countries including India and Japan also had standout years, with their HNW populations each growing by 5.6%. Europe, meanwhile saw its HNW population decline by just over 2% due to economic stagnation. But even that doesn't tell the whole story. While countries like the United Kingdom, France, and Germany lost tens of thousands of millionaires each, they also saw their UHNW population surge 3.5%. That reflects the increasing concentration of wealth countries around the world around experiencing. Alternative investments including private equity and cryptocurrencies are an 'established presence' in HNWI portfolios, according to the report, comprising 15% of holdings. Things could look a little different this year, thanks to a volatile stock market stemming from President Donald Trump's shifting trade policies. While wealthy investors often have the cash on hand to ride out any prolonged periods of volatility, the same can't be said for the average investor. Capgemini's report also details the coming $83.5 trillion great wealth transfer, which it says will happen in three main stages: 30% of HNW individuals will receive an inheritance in the next five years, 63% will by the end of the next decade, and 84% will by 2040. That will create the next generation of HNW investors, who may have different priorities and investment interests than the current wealth holders. 'The next-generation of high-net-worth individuals arrive with vastly different expectations to their parents,' said Kartik Ramakrishnan, CEO of Capgemini's Financial Services Strategic Business Unit, in a press release. 'This necessitates an urgent shift away from traditional strategies to effectively cater to their evolving needs on this wealth journey.' The report points to that 15% allocation to alternative investments as one example. And that may actually be on the low end of the UHNW investor spectrum: A recent report from UBS found that family offices, managing an average net worth of $2.7 billion, have allocated 21% of their portfolios to private markets, on average. This story was originally featured on Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
&w=3840&q=100)
Business Standard
3 days ago
- Business
- Business Standard
India adds over 33,000 millionaires in a year: How the rich allocate money
India witnessed a significant wealth boom in 2024, adding more than 33,000 new millionaires in a single year, according to the World Wealth Report 2025 by Capgemini Research Institute. The number of High-Net-Worth Individuals (HNWIs) in India rose by 5.6%, bringing the total to 378,810, up from around 345,000 in 2023. This surge comes alongside an 8.8% rise in total HNWI wealth, now pegged at $1.5 trillion, marking India as one of the fastest-growing wealth hubs globally—outpacing major economies including China. Who Are These Millionaires? Most of India's new millionaires fall under the category of 'Millionaires Next Door'—individuals with investable assets between $1 million and $5 million. India had 333,340 such individuals by the end of 2024, controlling $628.93 billion in wealth. On the ultra-wealthy end, India is now home to 4,290 Ultra HNWIs, defined as those with over $30 million in investable assets. Their collective wealth reached $534.77 billion in 2024. What's Driving This Growth? Equity Market Surge: India's Sensex rose 8.2% in 2024, pushing portfolio values higher for wealthy investors. Domestic Consumption & Entrepreneurship: Rapid digitisation, booming startup culture, and sectoral diversification—especially in tech, fintech, and infrastructure—fueled individual wealth creation. Inheritance Wave: As much as 50% of Indian HNWIs are expected to inherit wealth by 2030, with that number growing to 93% by 2040, per the report. The Capgemini Research Institute's World Wealth Report 2025, also revealed that the global high-net-worth individuals (HNWIs) population rose by 2.6% in 2024. This increase was driven by the growth in the population of ultra-high-net-worth individuals (UHNWIs), which grew by 6.2%, as strong stock markets and AI optimism boosted portfolio returns. The data indicates that alternative investments , such as private equity and cryptocurrencies, are now an established presence in HNWI holdings, representing 15% of their portfolios. Bullish stock market performance in the US fuels wealth increase A favorable interest rate environment and strong U.S. equity market returns helped boost wealth creation in 2024. North America saw the biggest gains, with the HNWI population rising by 7.3%. In contrast, Europe, Latin America and the Middle East saw declines in their HNWI populations, as macroeconomic challenges weighed. At the end of 2024, according to Capgemini's research: Europe's HNWI population declined 2.1% due to economic stagnation in major countries, with United Kingdom, France and Germany losing 14,000, 21,000 and 41,000 millionaires, respectively. In contrast, Europe's UHNWI population rose 3.5%, reflecting increased wealth concentration. Asia-Pacific's HNWI population increased 2.7%, with notable variability across the region. Latin America's HNWI population declined 8.5%, due to currency depreciation and fiscal instability. Brazil (-13.3%) and Mexico (-13.5%) witnessed the biggest population declines. The Middle East's HNWI population declined 2.1%, driven by lower oil prices. Within the largest individual markets, the U.S. was the clear leader, adding 562,000 millionaires as the country's HNWI population grew by 7.6% to 7.9 million. India and Japan were standouts in the Asia-Pacific region, with both countries registering 5.6% growth, adding 20,000 and 210,000 millionaires, respectively. In contrast, growth in China was negative, with HNWI population declining by 1.0%. APAC high-net-worth individual (HNWI) wealth and population show sustained growth India saw an 8.8% rise in HNWI wealth and a 5.6% growth in population, outpacing global peers including China. Market indicators including India's Sensex (up 8.2%) registered equity market gains. Total HNWI Wealth and Population India had 378,810 millionaires at the end of 2024 with a total wealth of $1.5 trillion. Japan had 3989820 millionaires at the end of 2024 with a total wealth of $9.9 trillion. China had 1502460 millionaires at the end of 2024 with a total wealth of $7.9 trillion. India had 4290 ultra HNWIs at the end of 2024 with a wealth of $534.77 billion. China had 22780 ultra HNWIs at the end of 2024 with a wealth of $3.6 trillion. Japan had 13620 ultra HNWIs at the end of 2024 with a wealth of $1.01 trillion. % of the surveyed Indian HNWIs inheriting wealth cumulatively as per HNWI survey, n=6,472 50% by 2030 77% by 2035 93% by 2040 If you're planning your family's financial future, consider this: 50% of Indian HNWIs will inherit their wealth by 2030, with that number climbing to 93% by 2040. This makes inheritance and estate planning critical. Financial advisors are seeing more interest in offshore investments, trust structures, and tax planning, especially among Gen X and Gen Z heirs. India's Next-Gen Rich want more than just money India's next-gen millionaires are digitally native and globally focused—and they're reshaping wealth management (WM): 85% of Indian next-gen HNWIs plan to switch their parents' WM firms within the next 1–2 years. 51% cite missing services on their preferred platforms, and 41% complain about poor digital tools. In short: Gen Z and millennial millionaires want customized, tech-first wealth solutions—and they're willing to move firms or follow trusted relationship managers (67% would switch firms with them). Offshore investments are no longer just about tax 98% of India's next-gen HNWIs plan to boost offshore assets by 2030. Why? Better investment choices (55%), stronger advisory services (65%), and more stable markets and regulations abroad (49%). Even younger families are exploring global real estate, tech startups, and ESG-aligned funds as diversification tools—not just tax havens. "As of January 2025, HNWI investors parked 15% of their portfolios in alternative investments, including private equity and cryptocurrencies. They are willing to take more risks to expand their wealth – allocating capital to higher growth asset classes and niche product offerings, notably by 61% of millennial and Gen Z HNWIs," said the report.
Hans India
4 days ago
- Business
- Hans India
Super wealthy numbers expand by 8.8 pc
New Delhi: India saw an 8.8 per cent rise in high-net-worth individual (HNWI) wealth in 2024, witnessing 3,78,810 millionaires with a total wealth of $1.5 trillion by the end of last year, according to a report released on Wednesday. India also had 333,340 millionaires 'next door' at the end of 2024, with a wealth of $628.93 billion, according to the Capgemini Research Institute's 'World Wealth Report 2025'. Moreover, India had 4,290 ultra HNWIs at the end of 2024, with a combined wealth of $534.77 billion. While 85 per cent of the Indian next-gen HNWIs plan to switch from parents' WM (Wealth Management) firm within 1-2 years, as compared to 81 per cent of the surveyed global next-gen HNWIs, 51 per cent of them cite services unavailable on their preferred channels as a reason to switch WM firms. About 41 per cent of the surveyed Indian next-gen HNWIs cite ineffective digital tools to conduct transactions as a reason to switch WM firms, said the Capgemini report. By 2030, 98 per cent of next-gen HNWIs in India are planning to increase their offshore assets by more than 10 per cent. This greater focus on offshore investments comes from better investment options (55 per cent), better wealth management services (65 per cent), better market connectivity (54 per cent), better tax regulations and economic and political stability (49 per cent). The report revealed that the global high-net-worth individuals (HNWIs) population rose by 2.6 per cent in 2024. This increase was driven by the growth in the population of ultra-high-net-worth individuals (UHNWIs), which grew by 6.2 per cent, as strong stock markets and AI optimism boosted portfolio returns. The data indicates that alternative investments, such as private equity and cryptocurrencies, are now an established presence in HNWI holdings, representing 15 per cent of their portfolios.
