Latest news with #WisdomHatch
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:
Time of India
3 days ago
- Business
- Time of India
Billionaire boom: This financial adviser says India is minting billionaires much faster than millionaires across the world
India's wealth creation is speeding up—but it's not what most people think. The real shift isn't just more millionaires. It's the speed at which billionaires are being created. Financial expert and Wisdom Hatch founder Akshat Shrivastava put it plainly: 'India has roughly 250 billionaires, just half that of China (which has roughly 520 billionaires),' he posted on X (formerly Twitter). '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.' Then came the clincher: '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.' Play Video Pause Skip Backward Skip Forward Unmute Current Time 0:00 / Duration 0:00 Loaded : 0% 0:00 Stream Type LIVE Seek to live, currently behind live LIVE Remaining Time - 0:00 1x Playback Rate Chapters Chapters Descriptions descriptions off , selected Captions captions settings , opens captions settings dialog captions off , selected Audio Track Picture-in-Picture Fullscreen This is a modal window. Beginning of dialog window. Escape will cancel and close the window. Text Color White Black Red Green Blue Yellow Magenta Cyan Opacity Opaque Semi-Transparent Text Background Color Black White Red Green Blue Yellow Magenta Cyan Opacity Opaque Semi-Transparent Transparent Caption Area Background Color Black White Red Green Blue Yellow Magenta Cyan Opacity Transparent Semi-Transparent Opaque Font Size 50% 75% 100% 125% 150% 175% 200% 300% 400% Text Edge Style None Raised Depressed Uniform Drop shadow Font Family Proportional Sans-Serif Monospace Sans-Serif Proportional Serif Monospace Serif Casual Script Small Caps Reset restore all settings to the default values Done Close Modal Dialog End of dialog window. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Access all TV channels anywhere, anytime Techno Mag Learn More Undo — Akshat_World (@Akshat_World) The message is clear: India is building a new class of wealth not from employment, but from enterprise. Live Events India's wealth class is expanding, and fast The World Wealth Report 2025, released by the Capgemini Research Institute , backs Shrivastava's view with data. India's population of high-net-worth individuals (HNWIs) grew by 5.6% in 2024. Their total investable wealth? It rose 8.8%. By the end of 2024, India had 378,810 millionaires, with a combined asset base of $1.5 trillion. While this number still trails Japan's 3.99 million millionaires ($9.9 trillion) and China's 1.5 million ($7.9 trillion), India posted one of the highest regional growth rates in both wealth and millionaire count. The 'millionaire next door' segment—Indians with assets between $1 million and $5 million—now includes 333,340 people, together holding nearly $629 billion. At the top end, India counted 4,290 ultra-high-net-worth individuals (UHNWIs), each with over $30 million in assets. In contrast, China has 22,780 and Japan has 13,620 UHNWIs. A tectonic generational shift But what's driving this shift? Inheritance plays a big part. According to the report, 50 percent of Indian HNWIs will receive inherited wealth by 2030. By 2040, that figure is expected to reach 93 percent. This transfer of wealth is changing how India's young rich manage money. Offshore investment is now a key focus. Nearly all—98 percent—of next-gen HNWIs plan to grow their offshore assets by more than 10 percent by 2030. Why move wealth abroad? Forty-nine percent cited more favourable tax or political conditions. Others pointed to better investment choices (55 percent), higher quality services (65 percent), and stronger market access (54 percent). For younger HNWIs, the decision to relocate isn't just financial—it's strategic. Fifty-nine percent of Gen Z Indian HNWIs have already changed their tax residency for inheritance planning, well above the global average of 39 percent. Digital demands and the future of wealth management The next generation of Indian wealth is digital-first. Among young HNWIs, 85 percent say they will switch their wealth managers within one to two years—higher than the global average of 81 percent. The top complaints? Lack of digital service channels (51 percent) and substandard digital transaction tools (41 percent). Yet personal connection still matters: 67 percent said they would follow their existing relationship manager to a new firm. Demands vary across age groups. Seventy-six percent of Indian millennial HNWIs expect top-tier digital services. Among Gen Z, the figure is 52 percent. Millennials are also the most likely to want personalised service—70 percent say it's important. That drops slightly for Gen Z (60 percent) and Gen X (49 percent). What the wealthy are buying HNWI portfolios globally are shifting, and India's wealthy are paying close attention. As of January 2025, 25–28 percent of holdings were in cash. Fixed income took up 19 percent. Real estate held 16–19 percent, and equities made up 20–25 percent. Alternative investments—venture capital, private equity, hedge funds—are also gaining ground. They now account for 14–17 percent of portfolios, especially among younger investors. Millennials in particular are showing a stronger appetite for these higher-risk, higher-reward options. India's new wealthy aren't following the old playbook. They're rewriting it. Driven by enterprise, boosted by inheritance, and demanding global options with digital ease, they are changing what it means to be wealthy in modern India. They're not just chasing growth. They're shaping it. And that, perhaps, is the most powerful shift of all.
Time of India
28-04-2025
- Business
- Time of India
How to retire without ever retiring? Akshat Shrivastava's explains his life upgrade formula
In a world where retirement is often seen as the ultimate goal, Akshat Shrivastava, founder of Wisdom Hatch, presents a refreshing alternative. His approach challenges the conventional idea of retirement, emphasizing the importance of life upgrades that allow individuals to live freely without feeling the need to retire. Shrivastava's life upgrade pyramid offers a step-by-step guide to achieving financial and personal freedom while avoiding the traditional notion of retirement. #Pahalgam Terrorist Attack India stares at a 'water bomb' threat as it freezes Indus Treaty India readies short, mid & long-term Indus River plans Shehbaz Sharif calls India's stand "worn-out narrative" Rethinking Retirement: The Life Upgrade Concept For many, retirement is synonymous with relaxation and leisure, often achieved after decades of hard work. However, Shrivastava argues that true freedom and contentment come not from waiting for retirement but from upgrading life itself. He explains, 'If we upgrade our life thoughtfully, maybe we won't feel the need to retire.' Contrary to popular belief, upgrading one's life isn't about flashy material possessions or extravagant lifestyles. Instead, it's about creating a life where one has the flexibility to work and travel, without worrying about money. This mindset shift allows individuals to experience a richer life without waiting for the traditional retirement phase. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Vatican reveals the reason for Pope Francis' death The Economic Times Undo Shrivastava's Upgrade Pyramid: A Roadmap to Freedom Shrivastava's upgrade pyramid outlines his vision of an ideal life, breaking down the process into stages that prioritize financial stability, time control, and personal fulfillment. According to Shrivastava, the first step is to save three times one's yearly expenses while eliminating debt. This foundational financial stability ensures that the pressure of money does not dictate one's life choices. The second stage involves diversifying income streams, ensuring that individuals have multiple sources of income. From there, Shrivastava suggests accumulating enough wealth—around seven to eight times yearly expenses—so that financial stress becomes a thing of the past. With this security, one can focus on gaining better control over time, allowing for a balance between health, family, and personal pursuits. From Luxuries to Freedom As individuals progress through the pyramid, Shrivastava recommends integrating more luxuries into their lives. This includes acquiring a comfortable home, enjoying extensive travel, and experiencing business-class flights. These luxuries are not meant to be the end goal but rather a stepping stone toward greater joy and freedom. The ultimate goal, according to Shrivastava, is to achieve a life where work becomes less stressful, time becomes more abundant, and personal happiness is prioritized. At the top of the pyramid is a state where investments and dividends sustain one's lifestyle, allowing for a life of compound growth. This final stage represents true financial independence and the ability to enjoy the highest levels of luxury, such as private planes or yachts. Social Media Reactions The post on LinkedIn has garnered a lot of positive feedback. Many people have expressed agreement with the idea that the greatest upgrade in life is freedom. Others have highlighted the importance of prioritizing financial freedom before focusing on time freedom. The upgrade pyramid presented has been widely appreciated as a practical and insightful approach to designing a fulfilling life. A recurring theme in the responses is the emphasis on upgrading life before pursuing luxuries. One commenter pointed out that the upgrade pyramid offers an excellent roadmap for those looking to improve their lives. Another response stressed that creating a life you don't want to escape from is far more valuable than merely aiming for retirement. Akshat Shrivastava's perspective on life upgrades presents a new approach to the age-old idea of retirement. By focusing on financial freedom, time mastery, and personal fulfillment, individuals can design a life that offers more than just the promise of relaxation after years of work.
Time of India
28-04-2025
- Business
- Time of India
Want to breaking free from 9-to-5 job trap? Don't quit until you read Akshat Shrivastava's Day 1 plan strategy
Many professionals dream of leaving their 9-to-5 jobs to pursue their passions, but making such a life-changing decision without careful planning can lead to serious consequences. Akshat Shrivastava, the founder of Wisdom Hatch, offers a practical and strategic approach to quitting your job in a way that sets you up for success, not failure. His "Day 1 Plan" is a blueprint that ensures individuals are not only ready for their entrepreneurial journey but also equipped to navigate the challenges that come with it. #Pahalgam Terrorist Attack India stares at a 'water bomb' threat as it freezes Indus Treaty India readies short, mid & long-term Indus River plans Shehbaz Sharif calls India's stand "worn-out narrative" Step 1: Build a Safety Net According to Akshat Shrivastava, the most important thing before quitting your job is to have a solid financial foundation. He advises that you need to have at least three times your yearly expenses saved up, a safety net he refers to as "iteration capital." This amount will give you the necessary cushion to experiment, learn, and fail without putting your financial well-being at risk. "Your biggest safety net is time," Shrivastava explains, emphasizing that a stable financial base will give you the freedom to take risks and adjust your strategy as needed. Step 2: Have a Day 1 Plan When it comes to quitting your job, Shrivastava stresses the importance of preparation. The moment you leave your job shouldn't be the moment you start planning your next move. He advises that you should already have a clear plan in place and be ready to start executing it immediately after your departure. "The day you quit is not the day you start thinking of your idea," he points out. This ensures that you're not left scrambling for direction once you take the leap. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Villas For Sale in Dubai Might Surprise You Dubai villas | search ads Get Deals Undo Step 3: Prepare Plans B and C Entrepreneurship isn't a straight path, and failure is always a possibility. Shrivastava highlights the importance of not having an all-or-nothing mindset. "You are not a Spartan, and you don't need to burn your boat when you reach an island," he says. Instead, having backup plans (B and C) is crucial. In case Plan A doesn't work out, these backup plans can keep you afloat and provide alternative routes to success. Step 4: Develop Good Judgement Knowing when to quit is just as important as knowing when to start. Akshat Shrivastava advises entrepreneurs to develop strong judgment skills. "If something is not working, you need to quit," he notes. There is no glory in endlessly struggling, and the sooner you identify what isn't working, the sooner you can pivot to a better strategy. "Run timed experiments, and be wise to quit," he adds. Time is precious, and wasting it on non-viable projects can be a costly mistake. Step 5: Don't Burn Bridges One of the most overlooked aspects of transitioning from a job to entrepreneurship is the value of maintaining professional relationships. Shrivastava reminds individuals to preserve their connections with former colleagues and bosses. "Your ex-boss, ex-colleagues are all valuable assets who can help you out in numerous ways," he shares. Even if things don't go as planned and you need to return to the corporate world, these relationships could be vital in helping you find stability. Akshat Shrivastava's strategy for quitting your job is grounded in practicality and foresight. Instead of rushing into entrepreneurship blindly, his plan encourages thoughtful preparation, building safety nets, and having a clear path forward. The advice has resonated with many professionals, as seen in the comments of his LinkedIn post, where individuals from various fields have praised his approach for being both realistic and empowering. Several individuals commended the advice, describing it as highly insightful and empowering. Others shared personal experiences of their own transitions from corporate roles to successful ventures, emphasizing the importance of planning and the freedom that comes with it. Ultimately, it's not about quitting impulsively; it's about quitting smartly, with a clear plan in place.
