India emerges as the 4th largest global wealth hub in the world

According to the 19th Wealth Report 2025, India has emerged as the fourth largest global wealth hub in the world after the United States of America, China, and Japan.

The number of  High Net-Worth Individuals (HNWIs) in the country has risen from 80,686 in the last year to 85,698 in 2024,a growth of 6 percent. The report expects the HNWI population in India to increase to 93,753 by 2028.

India’s strong economic growth rate 

The report attributes India’s progress to its strong economic growth rate, a growing startup ecosystem fueled by widespread smartphone access, and a growing culture of entrepreneurship.

Who releases the Wealth Report?

• The Wealth Report is released by the London, United Kingdom-based real estate consultancy firm Knight Frank. 
• The annual report offers an analysis of private wealth in the world and global investment trends.

85,698 High Net-Worth Individuals (HNWIs) in India

• The report identifies a High Net-Worth Individual (HNWIs) as an individual with assets of more than USD10 million.
• In 2024, India, with  85,698 HNWIs, was fourth in the world behind the United States of America (905,413), China (471,634), and Japan (122,119).
• 40 percent of the global HNWIs reside in America,20 percent in China, and around 5  percent in Japan. 
• India has around 3.7  percent of the world’s HNWIs.
• The number of HNWIs in the world rose from 2,243,300 in 2023 to 2,341,378 in 2024, a growth rate of 4.4  percent.
• The United States of America leads the world with a 5.2% increase in its population of HNWIs, followed by Asia with a growth rate of 5% and Africa 4.7%.
• The  Australasia region's HNWI population grew by 3.9%.

Billionaire Population in India rises to 191 

• In 2024, the number of billionaires in the country was 191 an increase of 26 as compared to 2023.
• In 2019, there were only 7 billionaires in the country.
• On the criteria of the combined wealth of billionaires, India ranks third after the United States of America and Mainland China.
• The combined wealth of 191 billionaires in India was estimated at $950 billion.
• The combined wealth of the United States of America billionaires was estimated at $ 5.7 trillion, and Mainland China $1.34 trillion.